- In the coming five years, around 70 percent home charging rate will drop to 50 to 60 percent, but the price of public and workplace charging might increase
To curb carbon emissions and reduce the dependence on natural resources such as crude oil, the government of India and other authorities around the world are undertaking various initiatives to boost the growth of electric vehicles. But, the much-anticipated sector is surrounded by several hindrances. The major concern among experts and drivers is the lack of charging infrastructures and sufficient charging stations. According to a report by research and markets, the escalating demand for electric cars has crafted a major requirement for more charging stations.
As of now China, which has the largest market for electric vehicles accounts for 37 percent, 50 percent, and 81 percent of global private, public slow, and public fast chargers respectively. Apart from that, the report also claims that 7.3 million chargers are active across the world (as of 2019), of which, nearly 6.5 million are private chargers, 0.6 million are public slow chargers, and 0.26 million are public fast chargers.
Another major challenge for the drivers is the charging time because there are not many varieties among electric cars and it requires sufficient charging from time to time. This concern has uplifted the installation and development of 50kW DC (direct current) fast chargers. Apart from offering fast charging, the DC chargers also offer the requirement for enhanced safety and additional components, such as substations, battery energy storage systems, as well as state-of-the-art liquid-cooled tables.
The research report says, “Across many global EV markets, home and workplace charging are preferred over public charging stations. Currently, more than 70% of the charging is done at home. Convenience, cost-effectiveness, and a variety of support policies (e.g., tax rebates, equipment purchase incentives, and cash rebates) are the main factors underpinning the dominance of home charging.”