What Does the New Infrastructure Law Mean For the Future of EV

Oct 19, 2022 | Electric/EV Car Charger

The recent passage of the Bipartisan Infrastructure Law is a major milestone in the progress toward transitioning our transportation system away from fossil fuels and towards a more sustainable future and combat climate change. The law represents the largest long-term investment in our nation’s infrastructure and economy, with new federal investments in many projects, including electric vehicle (EV) chargers. Learn more about this law and how you can save money while updating your home and car.

What is the New Infrastructure Law?

One of the most significant impacts of this new law is its support for the expansion and development of the National Electric Vehicle Charging Infrastructure - a national network of EV chargers for convenient access throughout the country. This will be an essential component in ensuring that drivers have access to convenient, reliable charging infrastructure as we transition towards an electric transportation future. To access these funds, states will submit an EV Infrastructure Deployment Plan through the Joint Office of Energy and Transportation was created, in collaboration with U.S. Department of Energy and the U.S. Department of Transportation.

Over the next decade, California will play a key role in this effort, given its high concentration of EV drivers and the state’s long-term commitment to reducing air pollution and greenhouse gas emissions. As more investments are made in EV chargers, California will continue to be a leader in the transition toward sustainable transportation.

The Infrastructure Law provides numerous benefits for EV owners as well as homeowners. Perhaps most significantly, the law provides tax incentives for the purchase of electric vehicles and charging stations. This is a major boost for the electric vehicle industry, and it is expected to lead to an increase in sales of electric vehicles. In addition, the Infrastructure Law also provides funding for the construction of new charging stations and the upgrade of existing ones. This will make it easier for electric vehicle owners to find a place to charge their cars, and it will help to expand the infrastructure needed to support electric vehicles. Finally, the Infrastructure Law also includes provisions designed to improve the efficiency of the electric grid. These improvements will help to reduce the overall cost of electricity, making it more affordable for consumers. In short, the Infrastructure Law is a major win for electric vehicle owners and homeowners.

Benefits include:

• Supporting electric vehicles
• Decreased emissions
• Job creation

In addition to the Infrastructure Law, a recent Inflation Reduction Act is offering up to $14,000 in rebates and tax credits to make your home more energy-efficient. In addition, The Inflation Reduction Act expands a homeowner efficiency tax credit, called the Energy Efficient Home Improvement Credit. This covers up to 30% of the cost of energy upgrades, with a cap of $1,200 per year. So now updating your home can actually save you money!