EV Power Pulse Issue #1

Analyzing the NEVI Program's 2022-2023 Report and New York's $29M EV Infrastructure Investment

Author

Steve Taylor
July 29, 2023

Welcome to the first edition of the EV Power Pulse biweekly newsletter! Every other Saturday, we’ll come knocking on your inbox with the latest updates in the ever-evolving world of EV charging and technology. Along the way, we’ll also take you behind the scenes of our EV charging venture, ChargeCorps, sharing with you what we’re working on, who we’re working with, and what we’re learning along the way.

America’s electric vehicle industry is at an inflection point and poised for explosive growth. Auto manufacturers are dramatically ramping up EV production, and the federal and state governments are making massive, unprecedented investments in charging infrastructure to support that growth. New EV-related technologies and systems are being introduced every day, and industry-wide standards are debated and implemented in real-time.

Whether you’re an EV industry veteran, policy expert, entrepreneur, or EV enthusiast, this newsletter is for you. The EV charging industry is still in its nascent stage, and many of the most important business and policy decisions shaping the future of the EV sector have yet to be made.

This week, my cofounder, Rob Diamond, lays out our featured story about the NEVI Formula Program Annual Report. I’ll then dive into the latest public-private EV partnership in New York, and finally, we’ll offer a glimpse into the story behind ChargeCorps. Let’s get to it.

–Steve Taylor, Cofounder and CEO of ChargeCorps

Current EVents

Power and Policy

The Joint Office of Energy and Transportation, established in December 2021 to enact and accelerate the Biden Administration’s Electric Vehicle Charging Action Plan, released an update breaking down the 2022-2023 findings from the National Electric Vehicle Infrastructure (“NEVI”) Formula Program. If you’re new to NEVI, it’s a federal program providing a cool $5 billion over five years to states to build or expand their EV charging networks. Some of the key takeaways include:

  • $1.5 billion in funding released in FY 2022 and FY 2023

  • 75,000 miles of highway to be peppered with AFCs (Alternative Fuel Corridors)

  • $3.5 billion could remain after this first round of build-outs

Two other pieces in the report particularly caught my attention. First, the report notes that cybersecurity will be of greater importance as this project continues. This is particularly timely given the recent Wired story about the risks of EV charging station hackers.

Additionally, they mention more meaningful community engagement and Justice40 implementation. Justice40 is a Biden Administration initiative built to address decades of underinvestment in disadvantaged communities. That right there is absolutely central to our mission at ChargeCorps, which you can read more about later in this newsletter.

–Rob Diamond, Cofounder and President of ChargeCorps

EV Industry Updates

On Wednesday, July 19th, New York Governor Cathy Hochul signaled that the state is serious about its commitment to EVs and clean energy. By opening up $29M in funding for EV charging stations and consumer rebates, New York has committed to significantly upgrade its EV infrastructure.

The state specifically set aside $15M for the installation of EV charging ports in workplaces, multifamily buildings, and for public use in disadvantaged communities. The other $14M goes back to the people, specifically, EV consumers. New York citizens looking to purchase EVs can get up to $2,000 in point-of-sale rebates from portions of the fund.

With 150,000 EVs already on the road in New York, this large infrastructure investment is a clear signal that New York will continue to lead the nation with aggressive climate and clean energy initiatives. Look for both incumbent and emerging EV charging companies in and around the state to position themselves as key players in New York’s expanding EV infrastructure.

–Steve

ChargeCorner - Building for The Public Benefit

Why we co-founded ChargeCorps

Significant US policy changes are moving our transportation economy away from fossil fuels and towards environmentally friendly, electric energy systems. New policies and incentives are promoting the adoption of consumer electric vehicles, and, as a result of the expected growth of the EV market, the Joint Office of Energy and Transportation estimates the United States will need to deploy an additional 500,000 public charging stations across the US by 2030.

We believe the electric vehicle revolution in the US has just begun, and we see a unique opportunity to make a meaningful impact on this industry and communities around the country. Record federal investment in EV charging infrastructure and a nationwide labor force in flux mean two things:

  1. The EV industry is about to experience explosive growth, and our combined experience in operations, transportation, and government policy will allow us to play a leading role.

  2. Massive numbers of new blue-collar jobs in station maintenance and repair are on their way. It’s a labor opportunity that could change lives and communities.

That’s why we incorporated ChargeCorps as a PBC (Public Benefit Corporation). We’re going to provide best-in-class EV charging station maintenance and repair. To do that, we’ll need a workforce that’s as skilled as it is diverse.

Our collective military and civilian experiences have taught us that while talent is equally distributed, opportunity is not. Black, Latinx, and women workers continue to be underrepresented throughout the workforce, including in blue-collar roles. Thousands of ambitious, hard-working people around the country have nowhere to apply their trade or lack attainable opportunities to learn one. The EV industry can break that cycle through community-focused workforce development initiatives, like those intended by Justice40. And we intend to play a leading role.

–Steve & Rob

EV INDUSTRY STAT OF THE WEEK

161,562: The number of EV charging ports in the United States has nearly doubled from Q4 of 2019 to Q1 of 2023, jumping from 87,352 to 161,562. With states beginning to roll out their NEVI funds, that number is set to skyrocket over the next few years.

Chart provided by the Office of Energy Efficiency and Renewable Energy

Upcoming EVents

In the wake of their recent report, “Charging Infrastructure for Electric Vehicles and Fleets 2024-2034,” IDTechEx is hosting a webinar breaking down the 6 key trends they believe will shape the EV infrastructure industry over the next decade.

How to further connect with us

If you’d like to stay plugged into the latest EV news, you’re in the right place.

To be a part of the conversation and stay up to date with ChargeCorps, you can follow us on LinkedIn and Twitter.

If you want to get in touch with us to learn more about ChargeCorps, reach out here.

Until next time, stay charged!
- Steve and Rob

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