Why should utilities be interested in this market?
Utilities want to create new revenue streams by offering customers premium products and services that will make their lives easier. According to Accenture, new eMobility services represent a $250 billion business opportunity for utilities, besides the US$1.7 trillion opportunity from providing low-margin electricity for EVs. To unlock this value, utilities are creating partnerships with other stakeholders in the EV market to provide services such as integrated home-EV energy management, EV financing, private charging points, and other EV-related services.
What are the precautions associated with EV adoption from the business perspective?
Despite the rise in demand, it is important for utilities to face different challenges to assure a successful deployment and maximize their return on investment. Utilities must prepare strategies to eliminate barriers such as the lack of adequate charging stations, limited grid capacity, and high customer expectations.
What is the most important step in the EV adoption journey?
Utilities must assess their Customer Information System to ensure that it provides them with the capabilities that cover the challenges that arise around electric vehicles and other industry trends. As a market leading CIS provider, we strongly recommend a solution that helps utilities create groundbreaking offers, implement diverse rate schemes, ease system integration, and provide a holistic view of the business operation. With the right CIS, utilities will become more competitive in a market that is increasingly demanding more possibilities for customers to access this new form of transportation.