RELEASE: $4.7 Billion Needed to Build Public Electric Vehicle Charging Infrastructure, CAP Report Says
Washington, D.C. — The United States will need to add 14 million new electric vehicles and 330,000 new public charging outlets by the end of 2025 to reduce carbon pollution from the transportation sector and meet the country’s original Paris Agreement target, according to a new report from the Center for American Progress. Many states are well on their way to having the public charging infrastructure needed, but the country needs significantly more investment to meet the goal.
The report also quantifies the capital costs of building this new public charging infrastructure and finds that existing funding sources—such as state tax credits and Volkswagen settlement allocations—can provide only about half of the $4.7 billion needed through 2025. Recommendations are provided for closing the remaining $2.3 billion gap.
“Closing the investment gap comes down to prioritization,” said Lia Cattaneo, author of the report. “The states leading the transition to electric vehicles have demonstrated that action can and should be taken across legislatures, agencies, utilities, and the private sector. More effort is needed, and every state should continue to seek out opportunities to fund electric vehicle charging infrastructure, such as fully utilizing Volkswagen settlement funds and allowing utilities to play a larger role.”
“Although electric vehicles represented just 1.2 percent of total vehicle sales in 2017, they can and should become the default option before 2025 if states make the right investments. With the right infrastructure in place, the United States can lead the way to a cleaner future.”
Click here to read: “Investing in Charging Infrastructure for Plug-In Electric Vehicles” by Lia Cattaneo
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