How Utility Companies Can Lead The Electric Car Revolution & Still Make Money

In 1914, Thomas Edison said, “The electric motor will be universally used for trucking in all large cities and … the electric automobile will be the family carriage of the future.” It has taken more than 100 years for his prophesy to become a reality, though. Gasoline and the internal combustion engine came along and pushed Edison’s dream onto the back burner.

Over the last century, utility companies have forgotten about powering electric cars, concentrating instead on delivering electrical energy to homes, businesses, and industry. But as more electric cars take to the streets, utility companies are having to rethink their business model. Many in the industry see electric cars as a threat because they don’t fit nicely into the existing electrical grid structure they have so carefully crafted over the decades.