Report: EV Charging Stations Set to Outnumber Gas Stations By Decade's End

by Chris Teague

Published: July 22nd, 2024

report ev charging stations set to outnumber gas stations by decade s end

One of the most significant worries from potential EV buyers is that there aren’t enough chargers to keep all the vehicles powered and on the road. A recent report from Bloomberg suggests those worries might become a thing of the past, however, with chargers expected to overtake gas stations within the next eight years.

The study found that “charging deserts,” where there are few to no charging stations, are rapidly disappearing. Networks added 704 new charging stations in the earlier in 2024, bringing the total to nearly 9,000 fast charging sites.

That rate sets EV chargers on a stronger growth trajectory than gas stations, but the growth of new sites is expected to accelerate, which could move the eight-year timeframe up. Spending is expected to surpass $6 billion this year and is projected to double by 2030, driven by stronger consumer demand.

The fast growth has been fueled by significant government investments, with billions pumped into the industry to spur vehicle development, create new manufacturing capacity, and build chargers. Private businesses are also riding the wave, with banks and other companies installing chargers at locations across the country.

This is all good news for EV owners, as the charging situation in the U.S. is hit or miss, depending on where you are. More charging options and more reliable chargers overall will make EV ownership more realistic for more people and will do a lot to dispel some of the worries about how and where to charge.

[Images: Tada Images via Shutterstock and Tesla]

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Chris Teague

Chris grew up in, under, and around cars, but took the long way around to becoming an automotive writer. After a career in technology consulting and a trip through business school, Chris began writing about the automotive industry as a way to reconnect with his passion and get behind the wheel of a new car every week. He focuses on taking complex industry stories and making them digestible by any reader. Just don’t expect him to stay away from high-mileage Porsches.

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Zerofoo on Jul 23, 2024
"10 years out" is a way of saying - this probably won't happen, but no one will remember to challenge me on the prediction by then. Fusion has been 10 years away for as long as I have been alive. Every time Congress starts to forget about funding Fusion research, articles are published declaring that fusion is achievable in "10 years". "10 years out" is the "please give us more tax money" dog whistle.

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- VoGhost on Jul 23, 2024
  Do you not comprehend that the end of the decade is 6 years away? I don't think you do.
  
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- Jalop1991 on Jul 24, 2024
  shoot, "climate related disaster" has ALWAYS--ALWAYS--been 10 to 20 years out for as long as I can remember. And the mainstream media dutifully "reports" on the screaming "panic," because fear pron sells. I agree, "10 years out" is the "give us more money" dog whistle.
  
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- Jalop1991 on Jul 24, 2024
  VoTroll, what does "the end of the decade is 6 years out" have to do with what Zerofoo said? Absolutely nothing. You're getting to the point where you come in and threadbomb with random nonsense related to absolutely nothing. Is that all you have left? Or are you really a street bum drunk that happens to have access to the internet?
  
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Daniel J on Jul 24, 2024
When I see them on every corner like I do gas stations, then I will believe it.

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