DATA-DRIVEN INSIGHTS CRITICAL TO EV CHARGING DECISIONS

Charging Analytics Program to accelerate ROI for installing and operating EV charging stations in the US and Canada

ALEXANDRIA, Va., May 14, 2024 /PRNewswire/ -- Electric vehicle (EV) charging station utilization tends to be highest in densely populated, higher-income areas near parks and shopping amenities, according to data from more than 1,000 DC fast chargers analyzed by the Transportation Energy Institute's (TEI) new Charging Analytics Program (CAP).

Determining where to place future chargers needed to accelerate EV adoption while ensuring strong return on investment requires data. That is why TEI partnered with the Center For Sustainable Energy (CSE), to launch CAP, which provides businesses with actionable EV market and charging deployment data across the U.S. and Canada.

CAP subscribers will get insights on when, where and how EV chargers are being used based on the latest aggregated data. Reports and interactive maps will help site hosts fine-tune their strategy for successfully entering the EV charging market.

CAP informs policy and site host decisions by:

• Logging more than 2 million charging events each month.
• Identifying when and where to invest in EV charging.
• Analyzing the economic value of the EV charging customer.

"We saw a need to help site hosts reach informed decisions, optimize products and services as well as profits and collaborated with CSE to develop CAP to address those needs," states Karl Doenges, Executive Director, Charging Analytics Program. "We offer a tiered construct, starting with a high-level summary of market dynamics and progressively adding more granular regional analysis. "

Among the high-level insights from CAP's initial analyses:

• The top three predictors of EV charging station utilization were the median income of a market's population, number of roads and population density.
• The presence of parks, open spaces and stores correlated positively with charger utilization.
• Utilization varies widely among chargers within a mile of each other, indicating that hyperlocal characteristics such as traffic flow, traffic lights and other factors are important.

"EV chargers can pull in customers who will spend time and money at a retailer. But businesses need data to determine which sites will bring the best returns," said CSE Transparency and Insights Director Scott Shepard. "CAP layers EV market and charger deployment data with insights from EV infrastructure and retail business experts to provide actionable intelligence for charger deployment."

The Transportation Energy Institute (TEI) is a non-advocacy research organization dedicated to studying transportation-energy. Founded by NACS in 2013 as the Fuels Institute as a 501(c)(4) nonprofit social welfare organization, the TEI publishes fact-based research projects designed to answer relevant market questions. Our reports are geared toward all industry stakeholders – from those trying to make strategic business decisions to policymakers.

Center for Sustainable Energy (CSE) is a national nonprofit that accelerates adoption of clean transportation and distributed energy through effective and equitable program design and administration. CAP is powered by Caret®, CSE's proprietary forecasting, planning and program management software suite for EVs and EV charging.

Contact:
Marjorie Frankel
[email protected]

SOURCE Transportation Energy Institute