Similarly to the US case presented in this study about Electric Vehicles (EV's), the UK is already on course to meet the target from the Committee on Climate Change for three-fifths of new cars to be electric by 2030.
Chargemaster (BP), the UK’s largest provider of electric vehicle charging infrastructure, has already predicted that there will be one million electric cars in the UK by the end of 2022, accounting for around 10% of all new registrations. Nearly one in four new cars will be electric by 2025, with plug-in cars making up around 50% of new registrations by 2027 and 60% by 2030.
With this unstoppable growth, electric utilities companies must take part in this huge "new market". Investment in infrastructure and technologies will provide attractive services to this new segment and will help them to increase their revenues significantly. Flat EV charging fees, installing chargers at home, software solutions for energy and fleet management are just some of the opportunities ahead.
Increasing demand for electric vehicles in the United States over the next decade will create revenue opportunities for electric utilities that invest in greater grid capacity and offer EV charging and related services