April 26, 2023 | Blog
Electric Vehicle (EV) adoption provides many opportunities for electric utilities. However, to successfully reap the rewards, utilities need to be prepared.
In a recent webinar, Apogee and GreatBlue Research revealed customers’ perceptions of EV adoption. They also discussed how forward-thinking utilities are provide continued engagement throughout the customer’s EV journey to address the challenges and drive utility goals.
Research reveals nearly 50% of consumers* perceive the low availability of charging stations as a downfall or negative aspect of owning an EV. So utilities can drive EV adoption by installing or incentivizing installations of public charging stations. Other research revealed during the webinar includes the timeline for an EV purchase, the likelihood of charging an EV during off-peak if there’s an incentive (EV rate or bill credit), factors that motivate consumers to purchase an EV, the impact of rebates on purchase decisions, and more.
According to the webinar attendee survey, the time is indeed fast approaching when widespread adoption of EVs is the norm with, 17% indicating their utility is feeling it now and 54% in the next two years. Not surprising given how much governments and automotive manufacturers are doing to push EVs into the marketplace.
In addition, the survey revealed, most utilities with an EV strategy offer incentives/rebates and specific EV rates. Those utilities with an EV strategy in place are likely to offer both incentives/rebates and specific EV rates according to the attendee survey. How effectively these utilities can engage customers across their EV journey will determine whether the utility meets its goals. Webinar attendees saw an example of a personalized EV video utilities send out proactively to their customers. Demonstrating effective way to engage, educate and drive customers to take advantage of electric utility EV programs.
It appears most utilities don’t offer EV-specific rates until they have a strategy in place — only 7% indicated they offered an EV-specific rate without having a plan in place. Overall, 54% of attendee respondents indicated they offer EV incentives or rebates, even 29% of those without an EV strategy. We have to wonder how utilities without an EV strategy in place, but who offer EV-specific rates and/or incentives or rebates are meeting their goals. Watch the webinar recording to hear about consumer perceptions about EV adoption and understand how a digital EV strategy combining awareness, education, onboarding, and engagement is critical for utility success.
Read the white paper, EV Challenges and Opportunities for Utilities to gain a better understanding of the EV growth trends, the challenges and opportunities facing utilities, and solutions available, particularly related to customer engagement strategies.
Note: *According Public Power Data Source, March 2022 survey of 3,000 consumers.
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