Will Affordable EVs Boost US Adoption by 2028?

June 26, 2024

Electric vehicle (EV) adoption in the United States may be hitting a speed bump, according to recent analyses by Bank of America and Bloomberg. Despite previous optimism about the rapid uptake of EVs, current trends suggest that the penetration rates are slowing down. This slowdown puts into question the previously projected goal of achieving a 30% EV market share by 2030. What could be causing this deceleration? Factors might include supply chain issues, economic fluctuations, or possibly inadequate charging infrastructure. The slowdown in EV adoption underscores the importance of addressing these challenges. Enhancing the charging infrastructure, providing incentives, and stabilizing the supply chain could reaccelerate adoption rates and help the U.S. meet its clean energy targets. Such efforts not only support environmental initiatives but also promote technological innovation and sustainable economic growth. Learn more at: https://www.utilitydive.com/news/US-electric-vehicle-EV-adoption-slowdown-BOA-Bloomberg/719826/?utm_source=currents

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