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Study shows EVs’ potential to increase utility revenues, reduce customer costs
Findings from a recent California study show that EVs can drive down prices for electricity. Could the same findings be seen with EV adoption in Canada as well?
Canadian utility operators and their customers take note. Adoption of more electric vehicles is helping to reduce electricity rates in California, according to a recent study by Synapse Energy Economics, an Environmental consulting firm based in Massachusetts.
The report, entitled Electric Vehicles Are Driving Rates Down, looked at three California utility companies that served more than 735,000 households with EVs. When looking at the costs of providing electricity to those vehicles, compared with the revenue generated by them, the results showed that between 2012 and 2021, the utilities made $1.7 billion in excess profit.
Read the whole story on electricautonomy.ca