Frost & Sullivan: European EV charging infrastructure to hit 2 million
The firm says that the approximate investment over the next seven years is likely to be about €5 billion for building EV infrastructure in Europe in relation to charging. The ratio of the number of cars to charging stations in Europe stands currently at 2.5, dropping to 1.8 by 2017. The rate of growth of public charging infrastructure in Europe is very high, principally due to local government initiatives in different countries.
Slow charging is the most widely available option at present. This method requires six to eight hours for a vehicle to fully charge (80%) and represents an infrastructure problem.
'Manufacturing and installation of a single charging station can be as high as €6,000, implying the need for sizeable investments to equip an entire city with charging stations,' said Frost & Sullivan research analyst Sanketh Gudur. 'Moreover, 6 to 8 hours of slow charging means more charging stations are required to ensure availability at all times.'
Fast charging will help resolve this issue although this method is currently expensive and not widely available. In addition, it is presumed not to be entirely safe for users to handle.
'The adoption of concepts such as DC-DC fast charging is critical to ensure the dramatic decrease of charging duration,' concluded Mr Gudur. 'A DC-DC charging station may eventually produce its own energy supply from renewable sources, offering an added advantage.'For more of the latest industry news, click here.