Guest Commentary

These professions are poised to gain from EV transition

EV charging New York auto show ARC 2024
The expansion of the EU’s EV charging station infrastructure will require an influx of investment funds – estimated to be around €240 billion by 2030 – in addition to updates to existing utility grids. (Bloomberg/Bloomberg)
RP
By:
Rue Phillips
April 19, 2024 04:53 PM

As the global effort to mitigate climate change continues, the adoption of electric vehicles (EVs) stands as a driving force in the race to lower carbon emissions. Although the best-selling EV maker, Tesla, comes from the U.S., the European market has beaten Tesla’s home market in overall EV adoption.

Recent reports show that there are likely to be more than 4 million EVs sold in Europe by 2026. This has led Europe’s five major markets – Germany, the UK, France, Italy, and Spain – to consider robust EV charging infrastructure and how that plays into political decision-making regarding green energy and pushing for even more EV use.

The government-backed push for EVs

Like the U.S., European leaders have developed their own policies and initiatives to support the adoption of green energy, including EVs.

Earlier this year, the EU set a lofty target of reducing emissions by 90 percent by 2040, with the ultimate goal of zero net emissions by 2050 as part of an ambitious green agenda that rivals that of the Biden Administration.

Such ambitious goal setting has forced the major EV markets in the EU to review the readiness of their EV charging infrastructure. However, in many ways, what they have found has been disappointing.

The European charging station issue

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The push for wider EV adoption within the EU will require a critical eye on the current EV charging infrastructure, especially in the five major markets where the need will likely be greater.

While the EU had an estimated 375,000 EV charging stations according to a 2021 analysis, a recent report by McKinsey suggests that an additional 3.4 million charging points will be required by 2030 to keep pace with even the most conservative EV adoption estimates.

The expansion of the EU’s EV charging station infrastructure will require an influx of investment funds – estimated to be around €240 billion by 2030 – in addition to updates to existing utility grids.

There will also exist a talent gap with this expanded infrastructure, requiring the training and certifying of skilled technicians to not only assist with the widespread buildout of new stations but also to service those stations going forward.

With the anticipated power demands and the need for training and readying a new generation of technicians with EV-specific skills, there exists the need for strategic planning to support the eventual goals of EU leadership.

Rue Phillips SkillFusion
Rue Phillips SkillFusion (SKILLFUSION)

What the future holds

Regardless of where they are located, EV drivers want to be assured they will be able to charge their vehicles and that the charging stations they use will be in working order.

“Charging anxiety” can be a global issue, with people hesitating to buy an EV because they are concerned about the availability and reliability of the charging infrastructure where they live. Without an investment in the expansion of the EV charging infrastructure, EV adoption could slow considerably.

There also needs to be a governmental focus on the potential stress on current electrical grids that would be compounded by the expansion of charging infrastructure. This is where the need for skilled technicians becomes increasingly critical in areas of the EU where the electrical grid will need to be broadened and strengthened to withstand the influx of new charging stations.

Recently, the EU introduced the most comprehensive EV charging station-related legislation to date, the Alternative Fuels Infrastructure Regulation. This legislation was introduced as a strategy to stabilize the EV charging infrastructure in Europe by providing regulatory guidelines and standards to all EU members.

The interplay between the EV charging infrastructure and political decision-making, particularly within Europe’s major markets, illustrates the pivotal role governmental action has in shaping what EV adoption looks like across Europe.

As the EU navigates the intersection between policy and progress, bold initiatives and proactive legislation will continue to guide the way toward a greener tomorrow for generations to come.

On the bright side, there are massive opportunities for EV-related jobs and career development, such as EV electricians, technicians, and electrical contractors. This is the perfect time to get busy in the EV charging space for anyone with even the slightest foresight.

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