Smart(er) EV Charging Could Slash Utility Costs By $30 Billion

A recent study by EV charging management firm ev.energy, in partnership with The Brattle Group, reveals that advanced smart EV charging programs in the US could reduce utility costs by $30 billion by 2035. This translates to roughly a 10% reduction in electricity rates for all ratepayers, regardless of EV ownership. The report highlights that EVs, with their large batteries, can function as distributed energy storage assets, allowing utilities to strategically manage charging and discharging to avoid costly grid upgrades. Actively managed EV charging can save utilities between $145 and $575 annually per enrolled vehicle, while bidirectional vehicle-to-grid (V2G) charging can more than double those savings to over $1,300 per vehicle each year. The study underscores the broader economic benefits of EV adoption beyond just environmental impacts. It challenges the notion that EVs are luxury items by noting that transportation costs consume a significant portion of income for lower-income households, and that EVs offer long-term total cost of ownership