Time to Recharge
Accelerating the Rollout of EV Charging Infrastructure
With many national targets focused on raising the number of electric vehicles (EVs) on the roads, the fast expansion of charging infrastructure across a variety of locations is an essential component in fulfilling those goals. Marsh McLennan’s latest report, Time to Recharge: Accelerating the Rollout of EV Charging Infrastructure, examines the challenges facing the rollout of EV charging infrastructure around the world, along with key insights and solutions to address them. Guy Carpenter is a business of Marsh McLennan.
Issues involve numerous public and private stakeholders, spanning the planning, financing and installation of EV chargers. Uncertain commercial and risk dynamics present additional questions, as many charge point operators (CPOs) struggle to make a profit due to high upfront costs and low levels of utilization in some locations, while finding that securing insurance coverage can be a slow and complicated process. However, regular engagement will also allow insurance carriers to educate CPOs on the risks driving premium costs and to discuss ways to mitigate them.
In addition, grid management issues could slow the speed of charge point deployment in some countries, as demand for electricity from charging rises. At the same time, inefficient public processes, such as undefined public sector roles and responsibilities, can lead to the duplication of authority action or gaps in both guidance and coverage.
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