CAP report estimates US will need 14M new PEVs and >330k new public charging outlets by 2025 to meet Paris targets
A new report by the progressive policy institute Center for American Progress estimates that the US needs to add 14 million new PEVs and more than 330,000 new public charging outlets by the end of 2025 in order to meet its Paris Agreement targets.
The report, which focuses specifically on what states can do to ensure that adequate charging infrastructure is available, reports that while many states are well on their way to having the public Level 2 and DC fast charging infrastructure needed by 2025, the country needs significantly more to meet the Paris Agreement goal.
Furthermore, according to the authors, existing state and VW funds can provide only about 50% of the funding needed to deploy adequate public charging infrastructure through 2025. Additional public resources and private investment are necessary to close a remaining $2.3 billion gap.
The authors suggest that as states spend their VW settlement funds, they will need to find new funding sources to continue progress into the midcentury. States should work with their utilities and legislatures to advance new investment mechanisms, as well as apply for federal grants and join or create revenue-generating carbon pricing programs.
Additional private investment is also necessary, the authors said, as is the extension of federal tax credits for EV charging infrastructure—which expired at the end of the 2017 tax year.