How are NY & VT adapting to the introduction of EVs?
Electric Vehicles (EVs) are getting a lot of attention right now.
Many people are starting to notice a consumer preference shift from traditional gasoline cars to EVs. Will there be an immediate shift? We do not believe so, but Stewart’s Shops is still thinking ahead and taking the necessary steps to prepare for this shift to EV.
As of 2022, there is not enough infrastructure in NY and VT to accommodate the change that’s coming. We believe Stewart’s Shops is a community leader in Upstate New York and Southern Vermont, and as such it’s our responsibility to prepare our areas for this EV shift by partnering with NYPA and Tesla.
The Reality of EV
For gradual change to happen there are a few necessary steps that need to be taken.
There needs to be more education around EVs and their impact.
This shift to EV needs to be affordable for everyone, including the supporting businesses.
- Providing charging for EVs today is not economical without huge subsidies.
- A typical installation of 4-8 Fast Charging posts is over $500,000!
- Demand charge for electricity drives up locations operating costs.
- There needs to be enough electrical grid infrastructure to support charging and to eliminate demand charges.
Understanding Demand Charge:
- Commercial electric bills have a demand charge, meaning all kWhs used for a month are priced at the highest level of usage (or demand) during a month. This cost is charged to the business who’s providing the electricity (Stewart’s Shops). The EV market is highly subsidized, therefore the consumer pays a consistent price and does not see this demand charge.
- When EVs plug in, the demand for electricity spikes, and the cost of all electricity a business uses spikes. This can dramatically increase a location’s power bill for the month while only charging a few EVs! The current costing structure penalizes charging providers for EV customers to charge during business hours when they need it the most.
- That’s why charging slowly overnight at home is the most convenient and economical method for EV owners.