The Wall Street Journal
In The Wall Street Journal, BCG’s Thomas Baker discusses how US utility companies will need to invest in power grid improvements in order to account for the rise in electric vehicle (EV) usage. According to a BCG study, charging an EV requires a 70% to 130% increase in the electricity-transmitting capacity of the wires and transformers serving an EV-owning household. Upgrading the grid system could cost $10 billion nationwide through 2030, Baker says, and while utilities will get new revenue from EV users, it will not be enough to cover the necessary upgrades to local power grids.