Solar Energy Show

I read an avalanche of media criticism when Elon Musk fired his entire SuperCharger team a few weeks ago. In spite of all the whining, it was a good business decision for Tesla. Here’s why: expanding and running a fast charging network is a lousy business. Installation costs are high, permitting and construction delays are extensive, and revenues from charging cannot overcome the high electricity costs charged by utilities. According to a McKinsey and Company study in October of 2023, most EV fast charging sites are swimming in red ink, losing $45,000 a year at every 4 port charging station. A back-of-the-envelope calculation shows that a typical Starbucks in California would have to sell 56,000 extra cups of coffee every year just to break even on EV charging. That’s a lotta Joe. In spite of complaints about high gasoline prices, gasoline is a worldwide commodity with reasonable substitutes. Prices are set by the free market. But prices for electricity supplied to charging stations are set by utilities wh