Electric vehicle sales have surged, with over 3 million on U.S. roads in the past three years. However, assessing if the public EV charging infrastructure is adequate is complex. Simply looking at the number of chargers per EV can lead to misleading conclusions, as noted by Loren McDonald of Paren. Instead, evaluating charger utilization rates reveals the true availability of charging stations, which varies by region. While some cities face high demand and longer wait times, others have sufficient infrastructure, indicating a generally positive outlook for the U.S. charging landscape.
If it were that simple, then a place like Oklahoma, which has tons of chargers but few EVs, would be considered an EV owner's paradise.
For a report on the state of the EV charging industry... tracked utilization of EV fast chargers during the peak hours of 12 p.m. to 6 p.m. in major markets.
Average utilization has surpassed 25% in several markets, which McDonald says is an encouraging sign for a business that's historically struggled to make ends meet.
In most of the country, we have plenty of charging infrastructure, at least in the core markets.
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