Electric utility providers — are you ready?

published on October, 2020

Electric vehicle charging in streetWith the recent introduction of Amazon’s electric vehicle (EV) fleet, the world is tuning in to EVs again. Amazon’s news projecting 10,000 electric delivery vehicles by 2022 and 100,000 by 2030 is getting consumers’ attention – and this comes on top of California’s recent announcement that by 2035 all new cars and passenger trucks sold in the state will be zero-emissions vehicles.

Bellomy’s National Utility Study, fielding since 2012, was designed to keep a pulse on upcoming trends and opportunities within the utility industry. It’s a flexible study that tracks national and regional satisfaction with utility providers and focuses on hot topics in the industry. Looking at the 2020 third-quarter survey results, we can see that Amazon and the state of California aren’t the only ones with EVs on their mind.

Ready or not, here the electric vehicles come.

Utilities are facing a future in which traditional revenue streams will continue to shrink due to lower traditional energy consumption, but the EV marketplace represents a key area of opportunity and growth for the utility sector.

Bellomy’s National Utility Study reported that roughly half (48%) of consumers don’t know how engaged their electric utility provider is with supporting electric vehicles. This suggests the need for developing a position now and educating consumers early and often as EV adoption expands.

Three in 10 consumers reported believing their utility provider needs to invest right now so many more electric vehicles can be on the road soon. With news feeds filled with EV talk, this number is sure to grow.

The EV fanbase is on the rise.

While only 19% feel their provider is actively offering information, programs, and services to support electric vehicle usage, 40-50% of consumers believe their electric utility provider should be offering the following:

Get ready – the time is now.

To help utilities develop better positioning within the rapidly evolving EV landscape, Bellomy starts by assessing relevant KPIs. In addition to understanding a baseline of perceptions, utilities need to track consumer opinions and gauge the impact of EV initiatives. Our customizable solution explores attitudes, behaviors, and barriers to adoption to pinpoint innovation opportunities that cater to unmet or upcoming needs. Reach out today to find out how you can get ahead of the growing consumer demand for EVs.