California Approves $437M Funding To Build Electric Vehicle Charging Infrastructure
The California Public Utilities Commission (CPUC) on Thursday announced a $437 million budget towards achieving its 2030 goal of five million zero-emission vehicles (ZEV) on road.
EIX), which, according to CPUC, will use it to install 38,000 chargers.
The program particularly “prioritizes multi-unit dwellings and disadvantaged communities because they face barriers to transportation electrification,” CPUC claimed.
SCE kicked off the Charge Ready program, the largest single-utility electric vehicle charging program in the country, back in 2016.
The initial proposal for the Charge Ready program was pegged at $760 million. The final proposal that has beeen approved comes at a reduce ratepayer costs of 40%, with only a 20% reduction in charging ports, as per CPUC.
TSLA) stock up over 435% year-till-date.
Nevertheless, EV sales made up for only about 2% of the total automobile sales in the U.S. last year, according to the U.S. Department of Energy data.
0 million EV infrastructure investment. The state of Florida, in the same month, said it planned to invest $8.6 million to build EV charging stations.” data-reactid=”29″>Charging infrastructure is deemed crucial for widespread EV adoption. In July, New York State Governor Andrew Cuomo announced a 0 million EV infrastructure investment. The state of Florida, in the same month, said it planned to invest $8.6 million to build EV charging stations.
Edison shares closed about 1.3% higher at $51.75 at the time of the market close on Thursday.
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