Authors : Arhan Reddy

Volume/Issue : Volume 9 - 2024, Issue 8 - August

Google Scholar : https://tinyurl.com/6m4udb2v

Scribd : https://tinyurl.com/2p86afpy

DOI : https://doi.org/10.38124/ijisrt/IJISRT24AUG1210

Abstract : Fast Evolving EV technology is dramatically changing both transport and energy. Ensuring that nations worldwide hit their targets in reducing carbon emissions and increasing sustainability of energy has made EV infrastructure development, particularly for charging stations and their integration with grids, part of that transformative process. The paper elaborates on the economic effect of EV infrastructure development on local economies and the energy market at large with a focus on the United States, Europe, and India. This study, through detailed research into the proliferation of EVs and associated demand for charging infrastructure, points out the creation of jobs, additional local business benefits, increased values of real estate, and, more importantly, the impact on the energy market in terms of grid stability and demand for renewable energy.

References :

1. International Energy Agency (IEA). (2021). Global EV Outlook 2021.
2. Argonne National Laboratory. (2022). JOBS EVSE Tool: Estimating Employment from Electric Vehicle Supply Equipment.
3. World Economic Forum. (2022). The Impact of Electric Vehicles on the Future of Energy.