Utilities get into EVs in the heart of the auto industry

by Dan Gearino, InsideClimate News

Utility companies are seeing opportunities to grow by getting into aspects of the electric vehicle business.

My colleague James Bruggers wrote about this for ICN, focusing on Duke Energy’s announcement of a $76 million plan in North Carolina that’s largely about developing charging stations.

The story mentions that utilities in Michigan, the center of the U.S. auto industry, have similar programs.

The Michigan utilities, like others across the country, can charge their entire customer base to pay for EV programs, subject to approval by regulators. This provides a source of financing that other EV infrastructure companies don’t have. The programs are designed to encourage people to buy EVs, which in turn leads to an increase in electricity sales.

Read more: https://insideclimatenews.org/campaign-archive/clean-economy-weekly/1823309?utm_source=InsideClimate+News&utm_campaign=251e154506-&utm_medium=email&utm_term=0_29c928ffb5-251e154506-327824881

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