The electric mobility revolution continues to accelerate throughout the world and in our service territory. Electric vehicle (EV) adoption provides substantial environmental and economic benefits for society. It will also have substantial impacts on many major industries, including the electric utility industry.
According to the Edison Electric Institute (EEI), there are more than 1.3 million EVs on the road today in the U.S. By 2030, the total number of EVs will climb above 18 million. Our objective is to increase adoption of electric transportation in our service territory and provide charging options that optimize the use of the grid for the benefit of all customers. To increase adoption of EVs in our service territory, AEP is helping raise awareness through education about the benefits of EVs with customers. In 2019, we launched the Electric Car Education and Awareness campaign throughout most of the AEP enterprise. The campaign, which continues through 2020, focuses on four key messages: affordable to buy, affordable to maintain, easy to refuel and easy to get around. The web-based campaign includes event materials, social animations, fleet case studies and a targeted three-month digital campaign. We are installing EV charging options where we park our personal and company vehicles, and we are helping mature transportation corridors to enable long-distance electric travel for all drivers.
We are seeing greater adoption – confirming our growth forecasts. At the end of 2019, there were nearly 14,000 registered EVs across our service territory, with nearly half of those in Ohio. By 2030, we estimate EVs to make up 1% to 3% of all vehicles in our service territory.
Our commitment to electrification includes providing tools and guidance to help customers better manage their vehicle fleets, such as www.electriccarcalculator.com. These tools show that replacing a vehicle with a similar EV can provide a 50% reduction in first-year fuel cost, as well as a 100% reduction in tailpipe emissions. When fleet managers understand these benefits specific to their needs, they are empowered to make informed decisions about EVs that benefit their businesses, customers and communities.
Across much of our service territory, we offer customers options and rates that encourage the efficient use of the grid and make it affordable for customers to charge their EVs. For example, by offering rates that encourage overnight charging, customers can save money because they are charging during off-peak periods. This also helps us better manage the demand on the grid to ensure reliability, which benefits all of our customers. Such EV-friendly rates are the types of initiatives that will enable quicker adoption.
We believe AEP is well-positioned to play an important role in supporting EV market development. We are actively working with policymakers, automakers and customers to develop and implement incentive programs to jump-start and support adoption of EVs in our service territories.
In 2019, AEP continued to expand the use of EVs throughout our own company, including integration of EVs into our fleet of work vehicles.