Bloomberg reported America’s “charging deserts” continued to vanish quickly in Q2 . In the second quarter of 2024, America’s electric vehicle (EV) charging network expanded rapidly, as a diverse range of networks activated 704 new public fast-charging stations, bringing the nationwide total to nearly 9,000. This represents a significant 9% increase over a three-month period, according to a Bloomberg Green analysis of U.S. Department of Energy (DOE) data.

As of July 18, 2024, the DOE’s Alternative Fuels Data Center reported 10,493 DC Fast stations, 55,847 Level 2 stations, and 184 Level 1 stations, for a total of 65,067.

At the current pace, public fast-charging sites in the United States are set to outnumber gas stations in approximately eight years. However, the momentum behind the deployment of these chargers is expected to accelerate even further. North American operators are projected to spend a collective $6.1 billion on charging infrastructure this year, which is nearly double their investment from 2023, according to BloombergNEF estimates. This annual expenditure is anticipated to double once more by 2030.

Sara Rafalson, executive vice president at EVgo, Sam Houston, senior vehicles analyst at the Union of Concerned Scientists, and EVgo Chief Executive Officer Badar Khan spoke about the tremendous growth of EV charging.

Charging stations are now getting busy enough to start generating profits. At the end of Q1 2024, the average US fast-charging station was in use 18% of the time, equating to nearly 5 hours a day, according to Stable Auto. This utilization rate surpasses the estimated 15% usage threshold required for a charging station to be profitable.

See Stable Auto's article: https://lnkd.in/ggRvFWgH

The second-quarter surge in new EV chargers was significantly driven by the National Electric Vehicle Infrastructure (NEVI) Formula program. The NEVI program has faced criticism from EV critics saying the rollouts are happening too slowly. EV expert Loren McDonald, CEO of EVAdoption, explained the reasons for the delays.

The lack of EV charging has been one of the biggest barriers to EV adoption, and is going away quickly. All of the other barriers are also getting fixed, with work from a wide variety of stakeholders.

International Energy Agency (IEA) estimated that US sales of fully electric vehicles will soar to 2.5 million in 2025.