Do Electric Vehicles Actually Cut Utility Costs?

driving prices down

It’s a common misperception that widespread EV charging will strain the electrical system and require expensive upgrades that raise electricity prices. The opposite, however, has been observed in the real world, according to a Synapse Energy Economics analysis of the three utility service territories that have the most EVs of any grids in the United States: Pacific Gas & Electric , Southern California Edison , and San Diego Gas & Electric .

From 2012 through 2021, Synapse examined the revenues and expenses related to EVs in the service areas of PG&E, SCE, and SDG&E. In addition to the costs of any associated upgrades to the distribution and transmission grid and the costs of utility EV programs that are deploying charging stations for all types of EVs, they compared the new revenue utilities received from EV drivers to the cost of the energy required to charge those vehicles.

Some might think that the additional $1.7 billion went to utility shareholders, but thanks to an accounting method called “revenue decoupling,” utility customers actually receive that money back in the form of lower rates and bills. Although there may be a delay between utility rate cases in regions that have not yet adopted revenue decoupling, EV charging should nevertheless put downward pressure on rates to the advantage of all customers.

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