Your EV Charging News Update from Coral EV

Welcome to the latest edition of our Coral EV newsletter. We'll help you stay informed on the latest charging infrastructure and technology developments. We cover network expansions, policy changes, and key trends shaping electric mobility.?

Biden Administration Doubles EV Charging Stations, Announces $521M for Expansion

The Biden administration announced that the number of EV charging stations in the US has doubled since 2021, with over 192,000 public charging ports now available. Around 1,000 new chargers are added each week as part of the effort to meet the administration's goal of 500,000 chargers by 2030. While the rollout has been slow, with only a few stations opened under the National Electric Vehicle Infrastructure (NEVI) program, the administration is releasing an additional $521 million to 30 states for further installations. This funding will focus on rural areas, disadvantaged communities, and medium- and heavy-duty vehicle charging, adding over 9,200 new ports nationwide.

Study Finds EV Charging Stations Boost Local Business Revenue

A new MIT study reveals that electric vehicle (EV) charging stations boost nearby business revenue, particularly in under-resourced areas. In California, businesses within 500 meters of new charging stations saw annual spending increases of around $1,500 in 2019 and $400 from 2021 to mid-2023. These increases, while modest, can cover a significant portion of installation costs and may encourage more investment in EV infrastructure. The study suggests that EV charging stations support environmental goals and stimulate local economies, with the potential for shared funding models to improve profitability.

Where Does Your State Rank?: Delaware Tops 2024 EV Index as Charging Infrastructure Grows, But Imbalance in Charger-to-EV Ratio Persists

A new EV index for 2024, developed by HERE Technologies and SBD Automotive, ranks Delaware as the top state for EV infrastructure, largely due to an increase in charging stations and capacity. The index, released ahead of World EV Day, shows that while no state scored perfectly, the Northeast and Southwest are leading in EV adoption and infrastructure. Key factors include the number and power of chargers per mile, with Delaware excelling and Alaska lagging. However, the ratio of EVs to charging points is becoming more imbalanced, potentially discouraging EV purchases. States like California and Washington, D.C., have the highest EV ownership, while North Dakota and Mississippi trail. Despite growing EV sales, adoption is slowing, emphasizing the need for a robust public charging network.

We hope you found this newsletter valuable and insightful and encourage you to share it with your network.?

When considering EV charging stations at your site, consider Coral EV’s turnkey and cost-effective solution for commercial EV charging stations.?

Coral EV is the local, full-service EV charging solution provider for business and fleet operators in the Mid-Atlantic. Coral EV doesn’t just advise you on EV charging station deployments, we do all of the work, taking a complex and time-consuming process off your desk.? We identify and secure incentive funds for your project, install and operate your infrastructure, and ensure consistent uptime with local support.

?

Learn more at https://www.coralev.com/contact