Residential Electric Vehicle Time-Varying Rates That Work Highlights

Executive Talking Points

  • EV time-varying rates are an effective first step for utilities to develop strong customer relationships.
  • Customers are more likely to enroll if EV rates save customers money and require limited up-front fees.
  • 72% of non-enrolled EV customers are willing and able to charge off-peak if it saves money and is convenient.
  • EV rates can serve as a bridge between passive and active managed charging.
As EV adoption increases, utilities will need to incentivize customers to charge off-peak.
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Utilities need EV customers to charge off-peak to avoid costly distribution system impacts and infrastructure upgrades.
EV specific time-varying rates are effective at incentivizing off-peak charging
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Survey results identified that customers on an EV specific time-varying rate were 1) more familiar with the rate rules and 2) more likely to charge off-peak compared to their generic time-varying rate counterparts.

Utility Driven

Proactive planning is in your best interest.
Where utilities have proactively developed residential EV rates, enrollment has been more than twice as high as rates that were required or recommended by customers, governance groups, or legislatures.

 

Marketing

70%

70% of the enrolled residential EV participants heard about their time-varying rate through least-cost marketing efforts, such as websites.

3x

Rates with an available marketing budget have 3x greater enrollment than those without.

Other Marketing Recommendations:

Provide meaningful rate options that address a wider variety of customer preferences and risk tolerances.
Target rate marketing among known or likely EV drivers, which can be derived from tools such as load disaggregation.

Free Enrollment & Bill Savings for EV Customers

  • Rates with free enrollment and no additional metering cost have enrollment 1.7x higher than rates with an additional cost to enroll.
  • Rates providing bill savings (in the absence of adjustments to charging behavior) have enrollment levels 2x higher than those with an expected bill increase.
  • A top motivation for customers is the opportunity to reduce their utility bill. The utility survey results demonstrate that the time-varying rates offered by utilities have successfully shifted charging to off-peak periods, lowering utility bills for the average EV customer.

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Residential EV Time-Varying Rates That Limit System Peaks Highlights

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