Press Release: New Jersey Poised to Accelerate Electric Vehicle Growth
Highland Park, NJ – Just in time for Drive Electric week, ChargEVC released its updated projections for electric vehicle adoption in New Jersey.
The report summarizes extensive new research to understand electric vehicle (EV) adoption trends in New Jersey, and projects the most likely trajectory for new electric vehicle sales through 2035 and beyond. These projections provide a quantitative foundation for market planning, new benefit-cost analysis that is underway, and an assessment of New Jersey’s progress on vehicle electrification.
“As of June 2019, New Jersey has attained 8.1% of its 2025 goal, but it took eight years of relatively strong growth to achieve” reports Mark Warner, VP at Gabel Associates and Lead Author of Projections of Electric Vehicle Adoption in New Jersey, “The research makes clear that only with strong, sustained sales growth will we be able to achieve the Murphy Administration’s statewide goal of 330,000 registered electric vehicles by 2025. Our research confirms that the 2025 goal is highly achievable, but success will depend heavily on strong execution of market development programs to ensure the high levels of growth needed.”
Several key initiatives are already underway, and other actions are being considered by the state. A total of $30M in the state budget has been dedicated to an EV rebate program expected to be in the market in 2020. In mid-October ChargEVC, with NJCAR and PlugIN America, will launch the first EV Certification Program for automotive dealers funded by the New Jersey Department of Environmental Protection, ChargEVC and NJCAR. In June, the Governor announced The New Jersey Partnership to Plug In to ensure the state agencies work collaboratively with the private sector to meet and exceed the goal. On the same day the State announced the next round of VW award money which went to projects that will electrify port equipment, school buses and other medium and heavy-duty equipment.
Coming soon are 1) an EV omnibus bill S2252/A4819 that establishes formal state goals, calls for the build out of an essential public charging network to address consumer fears about the lack of public charging, and establishment of a multiyear rebate program for EVs. Advocates are working for passage of this in the lame duck session later this fall; 2) BPU consideration of utility filings by PSE&G and ACE which propose utility investment in charging infrastructure and other market development efforts. These initiatives provide the programs needed to achieve state goals, but strong and timely approval and implementation will be needed to ensure the needed market impact.
This new market research makes clear that New Jersey is fertile ground for strong, continued electric vehicle adoption, but robust action is needed to sustain this progress long term. Multiple initiatives will be required for New Jersey to reach its EV and emissions reductions goals. Read the updated ChargEVC study by clicking here.
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ChargEVC is a not-for-profit coalition of diverse stakeholders that includes retail automotive dealers, utilities, consumer and equity advocates, environmental and labor organizations and technology companies. See chargevc.org for more information.