#50: Senate to cut EV Credits

Senate bill ends EV credits in 6 months, Believ raises £300M, Rivian joins WeaveGrid

Author

Steve Taylor
June 21, 2025

The Business and Policy of Charging Infrastructure

The 3 big stories:

  • Believ raises £300M to expand UK curbside charging

  • Senate Republicans propose rollback of EV and solar tax credits

  • WeaveGrid and Rivian launch grid-integrated smart charging program

Plus, featured jobs and headlines.

Enjoy,

–Steve

Industry News

UK-based charge point operator Believ recently raised £300M from investment firm Antin Infrastructure Partners to deploy “thousands” of on-street EV chargers across the country.

The investment is one of the largest private capital raises by a charging infrastructure company in the UK and will allow Believ to scale rapidly in underserved urban neighborhoods.

The funding will support the rollout of 5,000 charge points over the next 24 months, with a plan for another 30,000 in the future. Believ focuses on local-authority contracts, often winning deals to install chargers in residential areas lacking off-street parking.

The capital will be deployed under a concession model in which Believ handles all costs, ownership, and operations, making it easier for councils to approve installations without public funding.

Believ’s CEO Guy Bartlett called the raise “a pivotal moment” for accelerating equitable access to EV charging.

Steve’s Take

Believ’s £300M raise and curbside model offer a lesson for U.S. cities struggling to scale residential charging. Public funding isn’t always the bottleneck. The real challenge is the delivery model.

In the U.S., the lack of off-street parking remains a critical equity and access issue, especially in urban areas. Yet public agencies are often reluctant to fund or manage this infrastructure themselves.

Believ’s concession approach removes that friction by eliminating upfront costs and long-term ownership risks for municipalities. It’s a replicable model that aligns incentives. Local governments get infrastructure, operators get usage, and residents get access.

As federal funds grow scarce, this kind of pre-financed, turnkey approach could shift from optional to foundational. Companies like it’s electric, EVgo, and participants in municipal programs in Philadelphia and Seattle are already showing how private operators can fund, own, and manage curbside infrastructure at scale. For CPOs and investors hoping to secure urban contracts, Believ’s concession-style approach offers a proven framework worth emulating.

Power and Policy

This past Tuesday, Senate Finance Committee Chairman Sen. Mike Crapo (R‑Idaho) released the draft of his reconciliation legislation that would phase out tax credits for solar PV, wind, and EVs much faster than originally planned. Solar and wind investment tax credits (ITCs) drop to 60% in 2026, 20% in 2027, and 0% by 2028. Residential clean energy and EV credits would end almost immediately—EV and home energy credits expire within 180 days of enactment 

In contrast, the ITC for energy storage (alongside geothermal, nuclear, and hydropower) is preserved on the original timeline: full credit until 2033, then phased down to zero by 2036. However, projects relying on materials or support from “foreign entities of concern” (e.g., Chinese suppliers) that begin construction after Dec 31, 2025, lose eligibility 

Industry groups were noticeably shaken. SEIA’s Abigail Ross Hopper called it a “modest improvement” that still “pulls the plug on homegrown solar and decimates the American manufacturing renaissance.” American Clean Power Association warned it could “threaten hundreds of thousands of jobs” and raise electricity rates. BloombergNEF analyst Isshu Kikuma cautioned installations of solar, wind, and storage “could be expected to plummet” if IRA 

The bill remains a draft—requiring Senate and House approval and then the president’s signature. Though Republicans in Congress and White House continue to push for the reconciliation bill to pass “as early as July 4,” more realistic timelines point to late Q3 or early Q4 2025.  Key elements—like fast credit phase-outs and FEOC restrictions—could still be revised or softened before final passage.

Rob’s Take

The Senate and House versions of the reconciliation bill are substantially different in many areas. Here’s the breakdown on how they differ:

  1. Construction Eligibility Timeline

    • House bill imposed a 60‑day construction start deadline after enactment and required projects to be placed in service by end of 2028, or lose eligibility (under a 4% safe-harbor carve‑out)

    • Senate bill drops the 60-day and placed-in-service deadlines. Instead, projects need only commence construction by set dates: wind & solar by end‑2027, and other clean energy (including storage) by 2033, aligning with existing phase-down schedules 

  2. Treatment of Non-Solar/Wind Technologies

    • House bill grouped all renewables (except nuclear) together, ending most credits quickly.

    • Senate bill excludes energy storage, geothermal, nuclear, and hydropower from early phase-downs—for these, full credits run until 2033 with gradual phase‑out through 2036

  3. Credit Transferability

    • House bill proposed ending transferability of key credits after two years for certain categories.

    • Senate bill retains transferability throughout the life of credits—offering greater financial flexibility

  4. Foreign Entities Restriction (FEOCs)

    • House bill had vague thresholds (as low as 10% foreign influence) and unclear boundaries on disallowing credits.

    • Senate bill sets clearer, objective definitions for “material assistance,” allows reliance on supplier certifications, and exempts contracts signed before June 16, 2025

  5. EV Credits Duration

    • House bill extended the vehicle tax credits modestly—for example, offering used vehicle EV credits for up to a year for automakers with fewer than 200,000 sales.

    • Senate bill curtails them sharply—new EV credits expire 180 days after enactment, and used EV credits expire in 90 days

Emerging Tech

WeaveGrid and Rivian are teaming up to roll out a new smart charging platform for Rivian drivers, offering improved home charging based on grid conditions.

The integration is available for Rivian R1T and R1S owners in California, with more states planned. It allows drivers to automatically schedule charging when electricity is cheapest and cleanest, without manual input.

This effort builds on WeaveGrid’s track record with utilities and OEMs, aiming to align EV charging with grid needs and emissions targets.

Unlike generic “time of use” solutions, this program incorporates real-time grid signals and vehicle telematics for more precise load balancing.

WeaveGrid says the system also supports utility goals like demand response and renewable integration, without sacrificing driver convenience.

Steve’s Take

This partnership is a subtle but important shift. EV charging is evolving from a convenience feature to a grid-integrated resource.

Rivian’s integration of grid-aware charging elevates what automakers can deliver. Instead of relying on third-party apps, the car becomes a smart grid participant out of the box.

As EV penetration grows, managing load will be just as important as adding chargers. Solutions like this preempt grid stress, reduce utility costs, and simplify the user experience.

If OEMs want to lead on sustainability, seamless smart charging needs to become standard. WeaveGrid and Rivian are showing us how.

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⚡️Steve and Rob

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