Greener Living
EV Charging Stations Are Now Busy Enough to Make Money in the US
As electric car sales pick up in the US, the average utilization rate of many of the country’s fast-charging stations nearly doubled last year.
ChargePoint electric vehicle charging stations in Lamar, Colorado.
Photographer: Rachel Ellis/BloombergThis article is for subscribers only.
When it comes to electric vehicle charging in the US, the cars are finally catching up to the cords.
Last year, the average utilization of a US fast-charging station not operated by Tesla Inc. doubled — from 9% in January to 18% in December, according to new data from Stable Auto Corp., a San Francisco startup that helps companies place EV infrastructure. Put another way: By the end of 2023, every fast-charging cord in the country was plugged in for an average of nearly five hours a day.