Biden Administration Releases EV Charging Station Guidance
The U.S. Department of Transportation (USDOT) released the National Electric Vehicle Infrastructure (NEVI) Formula Program Guidance today. This document details the program requirements for the federal money allocated to states for electric vehicle charging stations.
Last year, the Bipartisan Infrastructure Bill was passed, and included was $7.5 billion in funding for a national network of electric vehicle charging stations. Of this money, $5 billion will be allocated to states to begin building EV charging stations.
The document released this week calls on states to prioritize placing charging stations on interstates to build "alternative fuel corridors". After states build charging stations on interstates at least every 50 miles, they can begin allocating money to other public roads or accessible spaces, such as parking structures, libraries, and schools.
These funds will be sent to states over the next 5 years and will be used in an 80-20 cost share, meaning that state or private funds must make up 20 percent of the cost of projects funded. Additionally, as part of President Biden's "Justice40" initiative, agencies said that at least 40 percent of the benefits of these investments must go towards disadvantaged communities. However, this does not mean that 40 percent of charging stations will be located in disadvantaged communities.
State plans must be submitted to the Joint Office of Energy and Transportation by August 1, and the Federal Highway Administration will issue approvals by September 30.
To read the full National Electric Vehicle Infrastructure (NEVI) Formula Program Guidance, click here.
The demand for EVs continues to grow. Read the Bankrate Consumer Electric Vehicle Ownership Guide here.