The impact of Biden’s $1 trillion infrastructure plan on EV
President Biden's infrastructure bill includes $7.5 billion in funding specifically for the deployment of EV charging stations. This underscores the importance of transitioning to zero-emission vehicles, and means there is a lot of funding available to help turn your location into an EV charging destination.
In August, the Senate bridged the partisan divide and passed President Biden's $1 trillion infrastructure bill, providing much needed funding to improve roadways, transit systems, electrical grids, internet access, and much more. Included in the bill is $7.5 billion in funding specifically for the deployment of a nationwide network of EV charging stations.
This federal investment in the future of electric transportation speaks volumes about the importance of transitioning away from internal combustion and into zero-emission vehicles. It also underscores the speed at which EV adoption will take place. But most importantly, it means there is a substantial amount of funding available to help turn your location into an EV charging destination.
“This new funding is exactly the type of support that the EV industry needs to catalyze investment in EV infrastructure. In order to achieve a net-zero global fleet by 2050, the 2020s must be a decade of mass adoption of EVs. This is a helpful down payment on that goal and what we hope will be just the beginning.” -- —Megha Lakhchaura, Director of Public Policy and Utility Programs, EVBox North America
For starters, there is already the existing 30% federal tax credit for any EV charging project completed in America. To learn more about how this tax credit works, you can check out the full EVBox page on this topic here. https://www.evbox.com/us-en/learn/rebates/federal-tax-credit-30