PEW Editor, Michael Connolly, addresses the potential that EV Charging has in the electrical wholesale industry.
It’s no secret that electric cars are gaining in popularity, with electric vehicle (EV) charging points becoming common in service stations, residential developments and businesses, amongst other locations. This presents an opportunity for everyone within the supply chain to profit.
Entering into a new market can be intimidating, especially when the wholesaler is often looked to as an authority on emerging technologies. However, you can take comfort in knowing that the statistics for this currently niche market are encouraging. According to nextgreencar statistics, electric car registrations from 2015-2018 show a fluctuating market, with anything from 1000-9000 electric car registrations a month in the UK. In terms of electric vehicle charging points, this trend extends globally too; EVlink, the worldwide market leader has more than 120,000 points of charge in over 40+ countries. Looking beyond that further, Schneider Electric has envisaged a knock-on effect with such things as medium and low voltage switchgear, metering and on-demand, and preventative maintenance deriving from uptake in charging points.
Having said all that, as with any new technology, one should always err on the side of caution. The frankly disappointing uptake in solar power technology, much anticipated to take the electrical industry by storm, turned out to be somewhat of a damp squib. I could go on to bore you further with statistics, such as a reported 60,000 number of charging outlets that its estimated will be needed by 2021, but it would be death by statistics. At the end of the day, nothing beats doing your homework on anything tipped to be ‘the next best thing’ whilst remembering to clearly pinpoint what you are going to offer and consider whether your core clientele are open to working in this emerging market. Speaking to your customers about a potential future revenue stream for them, as well as yourself, can only be positive for business.
This is the final viewpoint of 2018 and I would like to personally thank everyone I have spoken to – from manufacturers to wholesalers and everyone involved in the industry that we have worked with. Hopefully we have put forward some interesting ideas that have, or will, benefit your business in the future. At the very least I hope we have provided something to keep the coffee rings off the counter!
As ever, I would be keen to hear your thoughts – have you invested in EV charging points already? Do you see this trend carrying on for years to come? Or is this just another fad? If you feel there are other emerging technologies that will be leading the way in the not so distant future or if you have anything else on your mind, email me at: email@example.com. Have a great end to the year and we’ll see you in 2019.