Stable Insights:

EV Charging Utilization Trends

Explore high-quality data on national EV charging station utilization

EV Charging Station Utilization

Overview

With access to the most expansive EV charging utilization data on the market, including data from tens of thousands of chargers that have been operating for more than four years, Stable Auto has observed a surge in EV charging demand, especially at the Level 3 (DCFC) charging stations that we monitor.

Although the growth rate of EV demand has recently slowed, overall demand for EVs continues to rise annually, with expectations for further growth in 2024 and beyond. To illuminate this trend, Stable Auto has compiled a comprehensive analysis of charger utilization nationwide, leveraging data from thousands of non-Tesla Level 3 (L3) charging stations.

National DCFC charging utilization by month

Highlights

Utilization data reveals that DCFCs, once deemed poor investments due to low utilization, are now becoming profitable across many US states.
L3 (DCFC) utilization is up 104%, growing from an average of 8.8% in January 2023 to 18% in December 2023.
L2 (AC) utilization also saw rapid growth, though not as pronounced as L3, with an average increase of 33% from 4.9% in January 2023 to 6.5% in December 2023.
The entry of higher-range, faster-charging vehicles into the market has led to demand for EV charging to outpace EV sales, significantly increasing public DCFC utilization.
This trend likely causes crowding and long wait times at many DCFC stations during peak hours, which can be mitigated through proactive pricing strategies.

Using this data

Average DCFC utilization by state

The average estimated utilization for Level 3 (DCFC) chargers by stations tracked by Stable Auto

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Highlights

High average utilization rates across the country show EV adoption is growing beyond major cities and coastal areas.
Nineteen states in the west, south, southeast, and northeast report average charger utilization over 15%, marking the achievement of profitability.
Although these utilization averages do not reflect the number of chargers in each state, utilization rates highlight growing demand for EV charging, underscoring the need for extensive infrastructure development.

Using this data