The surge in electric vehicle sales marks an unprecedented chance for utilities and EVs to shape a sustainable future together. By enhancing all parts of the EV experience, utilities can drive grid resilience, deepen customer loyalty, and tap into new economic opportunities.
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If you doubt the potential of the combination of utilities and EVs, you may want to look at sales figures and projections.
Much has been written about the slowdown in sales of electric vehicles (EVs). However, 2023 saw a 35% increase in EV sales, with 2024 well on the way to bring total EV numbers close to 40 million.
Projections show that by 2030, there will be 33 million EVs on US roads alone. For Europe, the number will be 50 million. Even with such rapid growth, the continents will lag behind Asia, which will account for more than 60% of new EVs sold between now and the end of 2030.
On one hand, the growth in EVs presents challenges for utilities. On the other, it opens up a string of new opportunities. By enhancing the EV experience for users, utilities can improve customer engagement, support grid flexibility, and drive economic and environmental gains. This is essential to turning EVs into central energy assets that support energy flexibility and grid resilience.
To grasp the new opportunities, utilities may need a structured strategy that covers more of the EV owner journey than initially considered, including the buying process. Utilities are often considered brand-neutral regarding EVs, a rare and valuable qualification.
The EV customer journey—from deciding what EV to buy to learning to optimise driving and charging—presents multiple touchpoints where utilities can enhance the experience. Being an active part of that journey can benefit utilities in numerous ways, including:
Undertaking such initiatives can happen in stages and following well-defined strategies covering areas like those presented in the following segments.
The first touchpoint for utilities and EVs can happen long before a utility customer decides which vehicle to buy.
Early stages can include making customers aware of EVs’ economic and environmental benefits. For example, utilities can help demystify EV charging, address common misconceptions, and share real-life stories from EV users in their area.
Many first-time EV buyers need clarification on the mass of information, misinformation and sales pitches they encounter. In this context, utilities can function as a more neutral third party, providing information and tools addressing EV total cost of ownership (TCO), likely range under different driving conditions, or comparisons between EVs and traditional vehicles using local utility rates and emissions data. Another example is preparation for changes that occur after buying an EV. For example, in regards to charging, including how drivers can best finance and maintain at-home charging stations.
These types of processes and initiatives also create opportunities for utilities to engage customers in connection with other subjects. For example, a conversation about EVs can lead to information about kilowatts (how EV charging speed is measured), kilowatt-hours (how EV battery size is measured), or energy tariffs. Building on those conversations, utilities have the opportunity to engage prospective EV owners in participation in services like managed charging programs.
Activating EVs as core energy and grid assets is top-of-mind for many utilities. However, knowledge of – and participation in – initiatives like managed charging and other demand response solutions remains limited.
Building continuous conversations aimed at lowering the cost of EV ownership and charging are areas that can be of help in this context. For example, guides to rebates, tax credits, and income qualification can help new EV buyers during the purchase phase of their EV journey.
Other areas to consider are how EV charging can change their utility bill and the benefits of participating in managed charging solutions. Customers are often eager for one place where they can find the information they need, making it an incentive for utilities to deliver standalone EV communications that are separate from billing statements or other information, ensuring they won’t get lost in their inboxes.
Another area to consider is the differences between home and public charging options, and how to lower overall charging costs effectively. This is an opportunity to build knowledge of and buy-in for demand response programs and advanced smart charging solutions.
This type of information can be continuous. For example, run campaigns and introductory offers for new EV owners that reduce rates extra for charging during off-peak times. These offers can be accompanied by information about how charging at off-peak times can benefit the customer’s wallet, the energy grid, and the environment. In addition to saving money, 68% of consumers cite environmental benefits as a reason they conserve energy at home.
Driving an EV feels empowering. The speed and responsiveness of an EV tend to be far beyond that of comparably-priced combustion engine vehicles. However, the charging experience can feel complex and, in some cases, confusing.
Here, utilities can play a central role by providing clear, accessible information on home charging, rates, and the benefits of managed charging programmes.
This is one type of information that utilities can share that can also include areas like driving habits, how to maintain an EV, rate options, and energy efficiency tips. Keeping information segmented prevents information overload and keeps new EV owners engaged and informed over time.
Another way of supporting charging is by offering resources on charging logistics and energy costs. Utilities can also encourage customers to use apps that provide intelligent smart charging, simplifying and automating the charging process while improving overall results.
Utilities can also capitalise on their local connections in the areas where they provide energy by partnering with local organisations and groups to demonstrate EVs’ positive potential for neighbourhoods and communities.
