Friday, June 14, 2024

EV Charging Infrastructure: The Next Frontier | Deloitte Australia

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As of mid-2023, there are approximately 130,000 electric vehicles (EVs) across Australia, representing less than 1% of the total passenger vehicle fleet. It should come as no surprise then that with more affordable EV models available on the market, and the need to decarbonise intensifying, EV uptake is rapidly accelerating. EVs made up 8.4% of new vehicle sales in the first half of 2023, almost five times higher than the same period just one year earlier.

This trend is only expected to continue, with EV uptake projected to increase from 8.4% of new passenger vehicle sales in H1 2023, to 43% by 2033. This uptake will see a dramatic shift in the composition of vehicles on Australian roads, with the number of EVs expected to rise to approximately 2.5 million within the next 10 years.

The rapid transition of the transport fleet from internal-combustion-engine (ICE) vehicles to EVs will dramatically increase demand for EV charging, with the total energy demand from EVs forecast to reach 3,570 GWh per year by 2033. While the majority of charging in Australia is expected to occur in private homes, a significant proportion of EV users will be heavily reliant on public chargers. To service this demand, 27,500 new public EV chargers will be required by 2033, an eight-fold increase on current public charging capacity.

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