EPB Gets Update On Growing Electric Vehicle Market

Friday, January 21, 2022

EPB Director of Business Intelligence Bill Copeland  gave an update of the growing electric vehicle market at the EPB board of directors meeting on Friday. This industry is not new but it is important to know where it is today because as the use of electric vehicles increase, EPB will be adapting to play a bigger role in it, said David Wade, EPB president and CEO.

 

EPB has been following the industry since 2015 and Mr.

Copeland said the market is increasing as more businesses and governments move into electric transportation. Big trends include the fact that now 60 plus EV models will be coming into the market in multiple configurations to match what people are looking for in a vehicle. Plans by Ford, General Motors and Volvo are planning to go to all electric by 2025, said Mr. Copeland. Even places where pickup trucks are favored will be affected since some electric pickups are also coming to market.

 

The Chattanooga area will be impacted economically since there is an extensive supplier network in and around this area. Volkswagen, which is a leader in EV technology, has three electric vehicles in the pipeline, said Mr. Copeland. With the shortage of chips that are needed for manufacturing new cars, he said that car manufacturers have realized they can control their profitability and not offer incentives because supply and demand is in their favor.

 

Projections for EV purchases nationally are that 30 percent of new cars will be electric by 2030 and 70 percent by 2040. With those increases, there will be a bigger need for electric charging stations. Mr. Copeland said that the federal government, the state and private investors are coming together to establish more of them. Across Tennessee, he said there is state and TVA funding to help.

 

People want to see fast EV charging stations, he told the board, but the number of people who will be using this infrastructure is really unknown. He said 85 percent of charging EVs takes place at home. This leaves 15 percent of charging to do at commercial stations. The price of charging a car at home is one third the price of filling a car up with gasoline. The daily average distance that a car is driven is seven and a half miles. A full charge can power a car for 200-300 miles which is well above what is typically needed. At this time there are more savings since a $7,500 tax credit is available now.

 

EPB is seeing a trend of the increase in multi-unit dwellings and subdivisions, said Mr. Wade. How to include charging stations at those developments is a challenge. At this time there are very few available charging stations at these sites. When the new developments are built, EPB has started putting in conduit for the possibility that stations will be built there in the future. There is also the possibility that charging stations could be offered to homeowners outside of the developer, such as placing a charger at an assigned parking spot to be paid by the owner.

 

Electrifying transportation puts a greater reliance on the power grid, said Mr. Copeland, and the increase in use puts downward pressures on electric rates, he said. Additionally, EV use has a positive impact on the environment by leaving the air cleaner.

 

EPB is already doing things to affect use of electric power for vehicles, said Mr. Wade, first by creating awareness to help people understand what an EV is and to clear up misunderstandings about them. Incentives are being created for installing public charging stations.  And there is a policy to make provisions for building charging stations at new homes when they are constructed.

 

The board passed a resolution on Friday to authorize rates for commercial electric charging stations starting Feb. 21. The intention of the resolution is to help people who are interested in building these facilities to get in the market.

 

A special rate will be established for EV charging that does not include demand charges. To build a charging station is a challenge because the number of people who would be using it is unknown. The new rate that EPB will offer to developers of these stations will be minus a demand charge, which is a surcharge for spike usage. The new rate structure creates a predictable rate for the company who is planning and building a station. Those who will be developing commercial charging stations will be able to opt into this pricing structure that includes no demand charge. They will be paying more but the rate that is paid will be more predictable, said Mr. Wade.


Happy Feet International Set To Host Hundreds Of Flooring Dealers For Chattavegas 2.0

Tennessee Employment Surpasses Pre-Pandemic Levels

Tennessee Supreme Court Holds Education Savings Account Pilot Program Doesn't Violate Home Rule Amendment


Happy Feet International, a producer of luxury vinyl plank and tile headquartered in Chattanooga, is hosting its second annual Vegas themed expo. The company took a gamble by initiating the event ... (click for more)

Tennessee nonfarm employment has fully rebounded from the pandemic, surpassing pre-pandemic levels of employment with 45,500 more people holding jobs now than in February 2020. The Tennessee ... (click for more)

In an opinion released Wednesday, the Tennessee Supreme Court determined that, while two Tennessee county governments had standing to challenge the Education Savings Account Pilot Program (the ... (click for more)



Business

Happy Feet International Set To Host Hundreds Of Flooring Dealers For Chattavegas 2.0

Happy Feet International, a producer of luxury vinyl plank and tile headquartered in Chattanooga, is hosting its second annual Vegas themed expo. The company took a gamble by initiating the event in response to the COVID-19 pandemic when they were unable to travel to the Las Vegas trade shows. CEO Casey Johnson’s son, CJ coined the name Chattavegas for the inaugural event. ... (click for more)

Tennessee Employment Surpasses Pre-Pandemic Levels

Tennessee nonfarm employment has fully rebounded from the pandemic, surpassing pre-pandemic levels of employment with 45,500 more people holding jobs now than in February 2020. The Tennessee Quarterly Business and Economic Indicators report issued by Secretary of State Tre Hargett’s office shows that state unemployment dropped to 3.2 percent, below the national rate of 3.6 ... (click for more)

Breaking News

Person Dies In Submerged Car On Possum Creek Boat Ramp

A person died in a submerged vehicle on the Possum Creek Boat Ramp Saturday evening. The Hamilton County Sheriff’s Office responded to the boat ramp on Lee Pike at 8 p.m. on a call of a submerged vehicle. When they arrived, they found the vehicle still had a person inside. Members of the Sheriff’s Underwater Recovery Team made contact with the occupant and were able to remove ... (click for more)

HCSO Responds To Multiple Fights Between Gangs At Howard High School’s Graduation, At Least 2 People Thrown Over Railing

Several large fights erupted at the Howard High School graduation on Friday night. Hamilton County Sheriff's Office deputies were hired by the Hamilton County Department of Education to provide security for the Howard High School graduation at Finely Stadium on Friday night. Officials said, "At approximately 8:15 p.m., a large fight broke out in the stands between rival ... (click for more)

Opinion

Reaching Across The Aisle

What comes to mind when I hear the outcry of sore losers in a mayoral race in Hamilton County in 2022? What comes to my mind is we have had elected officials in this county dating back years who were applauded for being able to bring Republicans and Democrats together in a race for mayor, sheriff, commissioner, council person, Senator, or State Representative. So why now does ... (click for more)

Roy Exum: No It Is Not OK

What’s this? Several large fights broke out at Howard High’s commencement Friday night and two people were actually thrown over the guard rail at Finley Stadium. Security was unable to contain the melee yet urgent 911 calls dispatched the Chattanooga Police Department, the Sheriff’s Department, and even Red Bank’s Police responded. Net result? One arrest. Only one. Earlier this ... (click for more)