SourceLine News & Insights

Several automakers have taken steps to introduce more passenger electric vehicles (EVs) to the market and survey data from the Petroleum Equipment Institute indicates that EV will be an area of growth. With this in mind, convenience store operators are beginning to contemplate the cost of future-proofing their businesses for EV charging. Here are 2 things to be aware of as EVs continue to expand.

1. Watch for Funding Opportunities.

Various agencies are rolling out grant funding to support electric vehicle charging infrastructure. For instance, the Florida Department of Environmental Protection offered competitive grants to fund EV charging infrastructure for Level 3 (DC fast) near these busy interstates. Applications were due in January. Find more information on the Florida Department of Environmental Protection webpage. NECSEMA recently conducted a webinar that provided information about the availability of $70 million for EV charging in New England states. The organization reported that owner/operators of businesses located near high-traffic areas are ideal candidates for EV charging.

2. There Is A Hidden Cost to Infrastructure Funding.

Utility customers, regardless of what kind of vehicle they drive, could be on the hook for infrastructure costs to support electric vehicle (EV) charging. A study released by the Energy Marketers of America (EMA) found that a rapid build-out of infrastructure to support EVs that comprised 10% of vehicles on U.S. roads could cost $146 billion. If the build-out is funded by utilities, the costs would be passed along to utility customers. Find more information in the report, “Utility Investments and Consumer Costs of Electric Vehicle Charging Infrastructure.”

EV Abbreviations to Know

BEV: Battery Electric Vehicle

CAFE: Corporate Average Fuel Economy

CARB: California Air Resources Board

CAV: Connected and Autonomous Vehicle

CI: Carbon Intensity

CNG: Compressed Natural Gas

CSE: Center for Sustainable Energy

CTI: Cleaner Trucks Initiative

CVRP: Clean Vehicle Rebate Program

EPA: Environmental Protection Agency

GNG: Greenhouse Gas

HEV: Hybrid Electric Vehicle

ICE: Internal Combustion Engine

kWhr: Kilowatt-Hour

LCFS: Low Carbon Fuel Standard

LDV: Light-Duty Vehicles

LEZ: Low-Emission Zone

LNG: Liquefied Natural Gas

MMT: Million Metric Tons

NEV: New Energy Vehicles

VIO: Vehicles in Operation

PEV: Plug-in Electric Vehicle

PM: Particulate Matter

RFS: Renewable Fuel Standard

SAFE: Safer Affordable Fuel-Efficient

TCI: Transportation Climate Initiative

VAT: Value-Added Tax

VMT: Vehicle Miles Traveled

ZEV: Zero-Emission Vehicle