Electric Vehicles Are Driving Rates Down for All Customers Jan 2024 National Update

Rapid growth in electric vehicle (EV) adoption has raised the question of how EVs affect the electricity rates paid by all households, including those that do not own EVs. To answer this question, Synapse compared the electric utility revenues from EV charging with utility costs associated with serving EV load, including the costs of utility EV programs. The results of our analysis indicate that, since 2011, EVs have contributed much more in utility revenues than costs. Because of this, EVs have helped apply downward pressure on rates. This analysis was conducted on behalf of the Natural Resources Defense Council.

Earlier Synapse work on EV Rates, completed on behalf of NRDC, can be found here.