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U.S. EV Electricity Use Is Growing at Its Slowest Pace in Years

Jackson Moreland
Published Sep 30, 2026
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Summary:
  • In the first six months of 2026, electricity consumption by U.S. light-duty EVs was up 8% from a year earlier, marking the slowest increase in at least three years.
  • Past increases ran between 13% and 24%, with the top reading in the second half of 2023, according to the Energy Information Administration.
  • With federal purchase and lease credits ending in September 2025, new EV sales dropped 19% over the first six months of 2026 versus the prior half-year.

The growth curve just flattened

EVs are still pulling more juice from the grid, but the pace cooled. The EIA said Wednesday that electricity consumption by light-duty electric vehicles, including passenger cars, rose 8% year over year in the first half of 2026. That is well below the 13% to 24% range seen in recent years, when the high point hit in late 2023.

What is tapping the brakes

The cooling lines up with weaker buyer interest after federal tax credits that lowered the cost to buy or lease expired in September 2025. In the same window, automakers such as Ford Motor Co. and Honda Motor Co. have trimmed electric models that were not finding customers. Pull those threads together, and the EIA's data show new EV sales slid by 19% in the opening half of 2026 compared with the previous six months.

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The grid picture and your takeaway

Battery-electric and plug-in hybrid vehicles both rely on the grid, so more of them still means more power demand. Translation: the EV load is becoming a more meaningful slice of overall demand, just not accelerating as fast as it was. For your wallet, that points to a steadier, slower buildout story in charging and power infrastructure rather than a breakneck boom.

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Blogs

September 29, 2026
Why Is Gold Going Down? A 5.2% Treasury Yield Just Took Its Job
By Andre Savage
  • President Trump rejected Iran's deal to reopen the Strait of Hormuz, oil prices jumped back up, and gold fell instead of rising.
  • Treasury yields hit their highest level in more than 20 years, so investors sold gold and bought Treasuries that pay interest.
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September 28, 2026
The Strategic Bitcoin Reserve: Why the Government Wants Bitcoin to Explode
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  • The US government holds about 328,000 Bitcoin, worth roughly $25 billion, and since a 2025 executive order it keeps seized coins instead of selling them.
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  • Bitcoin's wild price swings, and a government holding a coin built to escape governments, are the two risks investors need to watch.
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September 25, 2026
BRIEFS EXCLUSIVE: 43% Of Respondents Say Bills Outran Their Income Over Past Two Years
By Briefs Finance
  • 43% of the 494 Market Briefs readers surveyed said their bills grew faster than their income over the past two years, even though 79% could cover a surprise $5,000 expense tomorrow.
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September 25, 2026
The Economy Is Booming. So Why Did Stocks and Bonds Fall Together?
By Milena Thomas
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  • Stocks and bonds fell at the same time, which is not how the two markets normally behave, because Treasury yields above 5% now compete with stocks for investors' money.
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September 24, 2026
The 2026 Economic Reset Is Starting: Are We in a Recession, or Is the Pain Still Ahead?
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  • The Federal Reserve has flipped from stimulating the economy to fighting inflation with higher interest rates, while the White House still wants growth at almost any cost.
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September 23, 2026
Are We in a Recession? Without AI, America Might Already Be in One - and Washington Knows It
By Kalbir Talwar
  • The White House attributes about three quarters of U.S. economic growth to AI, and many believe the economy would already be in a recession without it.
  • Washington has three reasons it cannot let the AI boom slow down: staying the world's superpower, outgrowing $40 trillion in national debt, and protecting a government stock portfolio worth billions.
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September 22, 2026
Will Interest Rates Go Down in 2026? Where the Money Moves Either Way
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September 21, 2026
How the Federal Reserve Makes Money - and Why It Just Posted Its Biggest Loss Ever
By Kalbir Talwar
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September 18, 2026
Kevin Warsh Just Defied Trump: What the Fed Rate Hike Means for Your Money
By Cierra Seay
  • The Fed raised rates for the first time since 2023 in a unanimous vote led by Kevin Warsh, the chairman President Trump appointed to cut them.
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September 17, 2026
Why America Bailed Out the Yen: The Japan Carry Trade, the Dollar and Your Mortgage Rate
By Milena Thomas
  • In July 2026 the US sent money to steady the yen because Japan is the largest foreign owner of US debt, and Washington needs Japan to keep lending.
  • For decades the Japan carry trade let Wall Street borrow yen at essentially 0% and pour it into US stocks, real estate and Treasuries, and rising Japanese rates are shutting that off.
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Read More
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