National Electric Vehicle Infrastructure Formula Program ANNUAL REPORT | Plan Year 2022–2023

https://lnkd.in/gd24Jiqh

It is 77 pages and so I've yet to really dive in since it just became available, but a few things from the report immediately caught my attention:

An estimate that each site will average 6 ports, not just the 4 that NEVI requires.

Resulting in a total of 1,537 stations and an assumed total of 9,222 ports being required to fully build-out the Alternative Fuel Corridors (AFCs) across all states and territories.

The costs assumed per port are based on estimates from seven sources. The costs are composed of four grouped elements:

• Equipment costs per port: $87,000
• Installation costs per port: $33,000
• 5-year maintenance costs per port: $12,500
• Fixed station costs: $103,000 (divided by 6 for costs per port).

The total cost per port would therefore be $149,667, but the costs in the calculations for this report are focused only on the 80% federal cost share—thus amounting to a total of $119,733.

However, low and high cost scenarios are also used to bound the analysis (at $95,072 and $211,360 respectively). The base scenario has total costs (federal share) for a full build-out of about $1.1 billion.

Considering the 10% set-aside, the total NEVI funding is roughly $4.57 billion. With approximately $1.1 billion of that total estimated for build-out, that leaves about $3.47 billion in funding that would remain for states after build-out is completed.