At the federal level, the main driver of EV adoption has been the well-established EV rebate of $7,500 for the purchase of a qualifying plug-in EV. On top of this program, the recently-passed infrastructure bill earmarks $7.5 billion for EV charging infrastructure across the U.S. In combination with the $3.1 billion total of EV investment by all of the 50 states, this investment will attempt to solve the chicken-and-egg problem of EV adoption and charging infrastructure nationally by targeting both parts of the issue.
Most states across the U.S. have been pushing EV adoption through tried and true means: EV and charging equipment rebates, direct grants, and sales tax exemptions, in addition to more nuanced incentives such as HOV lane exemptions. This report outlines which states are implementing such policies, documents how much each incentive is worth, and offers a deep dive into EV-related data that characterize the EV accessibility of each state: namely the number of EV registrations, number of chargers, retail electricity prices, and state-wide EV investment totals. From all of these data points, the report showcases the proprietary DG+ State Scorecard that ranks all the 50 states in terms of EV favorability through both policy and economic drivers.
The report also outlines a total cost of ownership (TCO) model over five years for owning an EV versus an internal combustion engine (ICE) vehicle. According to DG+’s TCO model, owning an EV is cheaper than an ICE vehicle across the U.S., with savings ranging from $204 to $17 every month, depending on the state.
On a more granular level, the U.S. EV Policy Report identifies incentives offered by over 75 utilities, electricity suppliers, and rural cooperatives. The most common forms of incentives include EV and EV charging equipment rebates, in addition to a charging rate incentive or time of use (TOU) rates for charging an EV at home. These incentives can further bring down the TCO of an EV, making an electric vehicle an even better option for the average consumer.
Looking at the U.S. as a whole, this report discusses the significant amount of funding dedicated towards EV infrastructure development and incentives. These funds mainly come from the recently passed federal infrastructure bill, Volkswagen emissions scandal settlement, and increased Department of Energy allocations. Understandably, the U.S. has a long way to go to make owning an EV the norm. Residential areas are typically underinvested in for EV accessibility, especially in low-income communities.
As local markets change dynamically and policies remain difficult to navigate, clean energy organizations are currently forced to choose between the overwhelming flow of free information and high-priced market intelligence subscriptions that are often too expensive for small- and medium-sized firms.
At DG+, we provide succinct information that cuts through the noise and gets to the point. Reports include details on current events, opportunities and challenges, policy summaries, pricing analysis, and market share data.
The DG+ U.S. EV Policy Report takes a look at federal, state, and regional-level policy initiatives that impact electric vehicle (EV) accessibility across the country.
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