Overview

• Biden administration announces broad interpretation of tax credits for electric vehicle (EV) chargers, making them available in areas where about two-thirds of Americans live.
• The tax credit guidance is part of an initiative to make EV chargers more affordable and widely available, with the aim of having electric vehicles make up half of new car sales by 2030.
• Alongside the tax credit guidance, the White House also announced $325 million in new investments to repair broken chargers.
• The number of publicly available chargers has grown by more than 70% to 170,000 since President Biden took office three years ago.
• EV prices are down more than 20% from last year.