In The Wall Street Journal , BCG’s Thomas Baker discusses how US utility companies will need to invest in power grid improvements in order to account for the rise in electric vehicle (EV) usage. According to a BCG study , charging an EV requires a 70% to 130% increase in the electricity-transmitting capacity of the wires and transformers serving an EV-owning household. Upgrading the grid system could cost $10 billion nationwide through 2030, Baker says, and while utilities will get new revenue from EV users, it will not be enough to cover the necessary upgrades to local power grids.
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The Wall Street Journal