Looking forward

Predictions for the next five years \and beyond

Looking forward

The electrification of transportation is as inevitable as it is necessary. To help counter climate change, European city centers are already on the verge of implementing fossil fuel bans that will eventually affect more than 62 million citizens within the decade. In the U.S., some states and municipalities are doing the same. Those mandates, combined with vehicle and driver incentives — as well as
$7.5 billion commitment to EV charging contained in the 2021 infrastructure bill — will help accelerate EV adoption across North America. By mid-decade, sustainability will no longer be a nice-to-have for governments and businesses globally. Today, transportation is the largest source of greenhouse gas (GHG) emissions in Europe and North America. Since 2009, greenhouse gases for transportation have risen 4.4% while those for electricity generation have fallen 25% (EPA, 2021). To date, 608,000 MT of greenhouse gas emissions have been avoided on the ChargePoint network.

ChargePoint is democratizing mobility by providing our commercial customers with a platform that allows them to participate in the electric vehicle revolution.

Pasquale Romano, CEO, ChargePoint

5 predictions for the next 5 years

Automakers, businesses and fleets will hasten their electrification commitments, enabling a tipping point for EVs within the decade.
Because of its aggressive climate efforts, Europe will continue to lead in EV adoption this decade. In NA, the road to mass adoption will rely more on incentives than mandates.

Utility policy and rate designs will evolve to support an EV-centric world.
As energy customers begin to realize both the cost savings and convenience of being able to fuel wherever they live, work and play, energy providers too will embrace the benefits EVs present them. From increased revenue opportunities to one day utilizing EV batteries to build resiliency into the grid, it’s a win-win for both consumers and utilities.

Full time connectivity reshapes fueling forever.
For more than a century, the primary search engine for fueling has been a driver’s eyes. As EVs take over, that all changes. With electricity pervasive, inexpensive and convenient, we will rely on our phones or in-dash infotainment systems to locate, schedule and initiate charging based on our location and fueling needs, and at our leisure — much like we do with everything else in our lives. With traditional gas stations on the decline and liquid fuels subject to price volatility, the days of scanning highway exits and city blocks for a place to top up will recede in the rearview mirror. In fact, it will be hard to believe we did it the old way for as long as we did.

Home charging takes off.
As the mass adoption of EVs hits its stride in mid-decade, drivers — no longer encumbered by an outdated fueling model — will immediately recognize the benefits of charging at home (scheduling charging at off-peak hours to save on power bills, fueling while they sleep, etc.). BNEF predicts 270 million home charging installations worldwide by 2040, with Europe leading the way thanks to faster EV adoption there.

E-mobility changes everything.
Remember when Apple introduced the iPhone and skeptics dismissed it as a passing fad? Seemingly overnight, the device and its Android counterparts changed communication forever. That’s what’s going to happen to transportation as EVs hit critical mass beginning this decade. EVs are already superior to traditional vehicles in every way imaginable — they’re cleaner, faster, quieter and cost less to fuel and maintain. As battery prices come down, ranges increase and electric fueling continues to proliferate, in a few years you’ll find it hard to believe we settled for the previous model for so long. And it will change everything from how we live and work to how we traverse cities and nations. You haven’t seen anything yet. You can mark our words.

That’s it for now. We hope you can see what our founders saw 15 years ago when ChargePoint was getting going. We’ve come a long way since then, but as we mentioned at the beginning of this report, we’re just getting started. The world of mobility will look different in five years than it does now. In 10 years, it will be completely transformed. Even we can’t predict where it will be in 20 years and beyond. But check back in five or so, and we’ll let you know.

Charge on... and on, and on...