If you watched Top Gear at the weekend you may have seen the review of the Tesla Model X. This electric car has a range of 250 miles and this was tested to the max by the Rory Reid who covered 200 miles in it and beat a ford mustang in a drag race. After all that he still had 21 miles range left. In the show Rory said "The future is now!" and it really seems to be the case with EV coming of age in 2016.
Recent news also confirmed that by 2025 Norway has pledged to ban the sale of all petrol based vehicles. This is a clear indicator of the future for electric vehicles and the possibilities for installers of EV charging points.
Not only is there more noise about electric cars in the media but what is more apparent is just how common place they are becoming on UK roads. Simply take a drive and you are almost guaranteed to see an electric car on your journey. This is in part due to the increases in range for many vehicles making them a much wiser choice when customers are looking to upgrade their current vehicles.
For instance the new Nissan Leaf has a 155 mile range and if you buy one Nissan will lend you a car 14 days a year for those longer journeys. When you add to that the savings you could make by going electric it almost becomes a no brainer to buy one for those with long drives to work. If you currently spend around £200 a month on fuel a switch to electric would save you around £175 in fuel costs and that’s before we even start looking at road tax and other costs.
This is why all of a sudden we are seeing an increase in demand for electric cars, not just because of the environmental benefits but also because it is now financially viable.
So What’s Happening with Electric Car Sales?
This can be seen in electric car sales which have increased by around 60% per year for the last few years. This is the same rate at which sale of the original Ford Model T grew back in the early 1900’s before cars replaced horses as the travel.
It is expected that around 2020 – 2024 electric cars will make such a big impact upon the world economy that we will have a surplus of oil as demand for petrol and diesel cars drops.
What’s happening with charging point installation?
There was a big push to get the network up and running back in 2011 and then steady growth since then. However the latest in technology rapid charging points are likely to drive the market forwards over the coming years. Many of these rapid charging points will require an upgraded supply meaning the installation is likely to be a larger job. The growth in installations is mapped below and broken out by charger type.
Zap Map esitimate that currently as of the 21st June 2016 the UK currently has 6266 public devices in 4066 locations. The market is currently growing by 270 installations every month.
The value of the infrastructure market is predicated to more than double in the next 5 years.
Domestic vs Commercial Points?
Worldwide it is predicted that growth in the domestic market will outstrip that of the commecial.
“Deployments of EV charging stations are critical to enable a widespread adoption of electric plug-in vehicles,” said Ben Scott, senior analyst at IHS Automotive. “Most charging stations are expected to be installed in domestic applications, such as a dedicated wall box or simply a charging cord plugged into a household power source,” said Scott.
According to IHS Automotive, the global production market for pure electric and plug-in hybrid electric (PHEV) vehicles is expected to grow significantly between 2014 and 2020. The global EV Charger (EVC) market is forecast to grow from more than 1 million units in 2014 to more than 12.7 million units in 2020.
A recent report published by AMA research states:
"Fast chargers represent the largest market sector by volume, with standard speed chargers also a significant part. Rapid chargers, which are relatively new, more expensive and can require upgrades to the electrical supply, remain smaller in terms of volume, but this sector is growing rapidly and answers the need for fast recharging."
There is so much data out there that we could go on and on. However if you want to look into this market further we have found some great websites from which many of the graphs and stats above are taken including AMA Research Zap Map and Next Green Car.
What is clear is that there will be a huge international demand for installation of EV in the coming years so if you want to get into this market make sure you check out our current EV charging point installers course here.