A new Boston Consulting Group paper is the latest analysis to conclude that EVs present a suite of revenue opportunities for U.S. power companies that play their cards right.

The big picture: The consultancy estimates that the rise of EVs could "create $3 billion to $10 billion of new value for the average utility" that has 2–3 million customers.

By the numbers: They see EVs (plug-in hybrids and pure battery vehicles) accounting for up to 30% of U.S. light-duty vehicle sales by 2030 and up to 12% of vehicles on the road.

What's next: The report sees several primary business opportunities as more people use electricity to travel.

  • "Utilities will earn a return on capital investments in the new grid infrastructure that is required to meet the increased demand from EVs," they note.
  • The report also concludes that there's a major business opportunity for power companies that offer EV-related products and services
  • "They include EV operations and maintenance; the installation, operation, maintenance, and servicing of EV charging points; software solutions for such things as energy management and fleet routing; and consulting services," it states.

Flashback: The report comes on the heels of an Accenture analysis which concluded that sees EVs creating a potential $2 trillion-plus market for utilities in the U.S. and Europe over the next couple decades.

Go deeper

SurveyMonkey poll: Trump improves, but not enough

Trump and Biden during the final debate. Photo: Xinhua/Liu Jie via Getty Images

President Trump's final debate performance exceeded Americans' expectations, but it wasn't enough to shift the dynamics that left him trailing Joe Biden across most measures, according to a new Axios-SurveyMonkey poll.

What they're saying: "Liar" was the word used most by debate watchers to describe Trump's performance, followed by "lies," "strong," "presidential" and "childish." "Presidential" was the word used most to describe Biden's performance, followed by "liar," "weak," "expected" and "honest."

Hunter Biden saga dominates online debate

Data: NewsWhip; Table: Axios Visuals

The mainstream media turned away. But online, President Trump's charges about Hunter Biden were by far the dominant storyline about the final presidential debate, according to exclusive NewsWhip data provided to Axios.

  • Coverage of business dealings by Joe Biden's son — and pre-debate allegations by one of his former business associates, Tony Bobulinski — garnered more than twice as much online activity (likes, comments, shares) as the runner-up.
Bryan Walsh, author of Future
1 hour ago - Health

America's poor health is jeopardizing its future

Illustration: Eniola Odetunde/Axios

From high levels of obesity and opioid addiction to inequities in access to care, America's pre-existing conditions make the country an easy target for COVID-19, as well as future pandemics that could cripple the United States for decades to come.

Why it matters: One of the best ways the country could prepare for future threats — and boost its economy — is to improve Americans' overall health.