All 50 States Get Green Light to Build EV Charging Stations
President Biden has confirmed that the federal government will fund the construction of EV charging infrastructure. A total of 35 states, a mix of Democratic and Republican governors, will receive funding to install these stations. By August 1, all states had to submit their plans. President Biden’s announcement is a welcome development, and he is sure to see a significant increase in EV usage in the next years.
NEVI formula funding
A federal program known as the NEVI Formula Program provides funding for a nationwide network of EV charging stations. Its mission is to create a more equitable, affordable and convenient system of charging stations. By utilizing federal funds, states can strategically deploy EV charging infrastructure and establish national standards for their installation and operation.
The FHWA is currently developing the ground rules for the NEVI program and is seeking comments until August 22, 2022. The proposed rules would set minimum standards for EV charging infrastructure projects and chargers, as well as requirements for on-premise signage, reliability maintenance, and data submission schedules. FHWA would also require states to establish community engagement activities and submit quarterly and annual reports describing how many charging stations they have installed.
Tax incentives
Electric vehicle owners in all 50 states have a new incentive available to them: tax credits. For example, Vermont is offering a 25% tax credit for the purchase of a new or used high-efficiency vehicle. The incentives vary depending on the vehicle type and tax filing status.
While the current federal tax credit is capped at $12,500, there are ways to expand it. A more refundable credit for consumers will allow more EV owners to benefit from the incentives. Additionally, Congress could reform the “cash for clunkers” program to include EVs that qualify.
Plans for new infrastructure upgrades
The US Transportation Department has given the green light to the development of EV charging infrastructure in all 50 states. This is good news for those who are looking to purchase an electric vehicle. The funding will enable states to build charging stations on their highways. The federal government will spend $1.5 billion over five years to build highway EV charging infrastructure. Ultimately, this will make driving an EV cheaper and more convenient. It will also provide the backbone of the national EV charging network.
The funding comes in the form of a bipartisan infrastructure package. Congress approved the funding for EV charging infrastructure in the Bipartisan Budget Act. The funds are meant to cover 80% of the cost of an EV charging station. The remainder can be covered by private money.
Construction of new charging stations
As electric vehicle sales rise, the federal government is encouraging states to build EV charging stations. Last June, it announced a $5 billion program that would provide fast and low-cost recharging points for electric vehicles. This new initiative would allow for seamless EV travel across state lines. It also supports the construction of DC fast charging stations along EV corridors. State leaders meet on a quarterly basis to discuss EV charging infrastructure issues and plans.
President Biden announced that federal funds would be allocated to states for building EV charging infrastructure. As part of this initiative, 35 states — representing a mix of Republican and Democratic governors — will receive funding to build charging stations. States are encouraged to build EV charging stations every 50 miles, so that drivers can recharge their cars in a convenient place while on the go. Ideally, these charging stations would be within one mile of freeways.
