2022 has been an incredible year. Not only did our customers begin installing their Series 4 home and Series 8 commercial electric vehicle charging stations, but Congress passed history-making legislation that promotes EVs and expands the national charging network. And to our team’s excitement, SemaConnect joined the Blink Charging family! Here’s what you need to know about the two biggest updates of 2022 in the electric vehicle charging market.
Expanded Access to EV Charging
At the end of 2021, Congress passed the Infrastructure Investment and Jobs Act (IIJA), also called the Bipartisan Infrastructure Law (BIL). This legislation allocated $7.5 billion for electric vehicle charging by creating a national charging network and support EV school buses. On September 27, 2022, the Federal Highway Administration approved the National EV Infrastructure (NEVI) Program plans from all 50 states, Washington DC, and Puerto Rico. With this approval, states can now access funding to build EV charging stations along key highways.
The other major EV legislation of 2022 was the Inflation Reduction Act, which focuses on key spending towards healthcare and climate. As the US Department of Energy writes, this law “makes the single largest investment in climate and energy in American history, enabling America to tackle the climate crisis, advancing environmental justice, securing America’s position as a world leader in domestic clean energy manufacturing, and putting the United States on a pathway to achieving the Biden Administration’s climate goals, including a net-zero economy by 2050.”
Significantly, the Inflation Reduction Act renews the Alternative Fuel Vehicle Refueling Property Tax Credit (30C) for businesses and updates the Qualified Plug-In Electric Vehicle Tax Credit (30D) for drivers. Businesses that install EV charging stations in 2022 can receive 30% up to $30,000 per site. Beginning on January 1, 2023, qualifying businesses can receive 6% up to $100,000 per station, or a 30% credit for meeting additional wage and apprenticeship requirements. Guidelines for these prevailing wage and apprenticeship requirements were released by the US Department of Treasury in November and will go into effect on January 29.
As to the Clean Vehicle Tax Credit, new updates will remove the automaker sales cap that disqualified Tesla and General Motors vehicles, require final vehicle assembly in North America, limit recipients by income, and introduce a new tax credit for used vehicles. Learn more about state and federal incentives.
An Energized Future with Blink Charging
This summer, SemaConnect was excited to announce our acquisition by Blink Charging. Blink is a leader in electric vehicle charging with a worldwide reach and, like us, was founded at the beginning of the industry. SemaConnect is the latest company to join the Blink Charging family, which also includes Blue Corner in Europe and EB Charging in the UK. And we’ve been actively working together to map out the future of EV charging. Stay tuned in the coming months for more announcements and information on our plans on how we will charge ahead in 2023!
In October, Blink CEO Michael Farkas announced a search for a new manufacturing facility in the United States. With this new facility and the SemaConnect office in Maryland, we’re excited to bring more American-made charging stations to residential and commercial properties everywhere! Finally, last week we announced that SemaConnect Chief Operating Officer Mark Pastrone will now serve as COO at Blink as we align all operational activities. Learn more about Blink Charging.
As we approach the new year and look forward to 2023, we’re already planning new solutions for EV drivers, property owners and managers, fleet managers, and distribution partners. As a Blink Charging company, we are charged up to power the future together. With over 59,000 charging stations deployed in 25 countries, EV drivers can access more charging stations with Blink. Thank you for making 2022 monumental; we can’t wait to charge forward into 2023!