The Department of Energy has spent $130 million on electric vehicle (EV) charging stations of dubious value.
The most common EV chargers being subsidized cost $2,000-$3,000 and take almost 8 hours for a full charge.
So how long will people be parking at the Huntington, WV McDonald’s mentioned in this Wall Street Journal article? (Answer: Trick question. No one seems to own an EV in Huntington.)
The fast chargers, which require only 30 minutes for a full charge, cost $40,000 — plus installation.
What’s the future of EVs anyway?
Opinions vary on demand. J.D. Power & Associates expects all-electric vehicles will account for less than 1% of U.S. auto sales in 2018, or about 102,000 cars and light trucks. Including hybrids and plug-in hybrids the market share is forecast at 8%.
“The premiums associated with these products are still more than what the consumer is willing to bear,” says Mike VanNieuwkuyk, executive director of global vehicle research at J.D. Power.