In a significant boost to the nation’s electric vehicle (EV) charging infrastructure, the United States Department of Energy (DOE) has announced a $1.25bn loan guarantee to EVgo Swift Borrower LLC.
This major initiative aims to deploy around 7,500 high-powered fast EV charging stations at approximately 1,100 locations across the United States over the next five years.
By enabling drivers to charge their vehicles quickly and conveniently, this technology is vital to addressing range anxiety and supporting widespread EV adoption.
Revolutionising EV charging accessibility
The first wave of deployments will feature state-of-the-art 350kW direct current (DC) fast chargers. These units can charge two vehicles simultaneously, offering an 80% battery recharge in just 20 minutes, depending on the EV model and battery conditions.
Such advancements address a critical barrier to EV adoption: the lack of reliable and fast EV charging options.
This initiative also incorporates dynamic power-sharing technology, which maximises charging efficiency by redistributing unused power between vehicles.
The rollout will include advanced features like Autocharge+, simplifying the payment process by enabling users to plug in and charge without using a phone or credit card.
Driving toward a clean energy future
EVgo’s expansion aligns with the US’ goal to build a national EV charging network. Since President Biden took office, the number of publicly available chargers has doubled, with nearly 1,000 new chargers added weekly.
Currently, over 204,000 public charging ports are operational nationwide, and EVgo’s efforts will further amplify this growth.
These EV charging stations will serve various high-traffic locations, including retail centers and grocery stores, ensuring accessibility for drivers in metropolitan areas and multi-family housing communities.
Notably, more than 40% of the new chargers will be installed in disadvantaged communities, advancing equitable access to clean transportation options.
Economic and environmental benefits
This project is expected to create over 180 construction jobs and 550 maintenance and support roles, fostering a robust EV ecosystem while promoting economic growth.
The chargers will enable an annual reduction of 284,000 tons of carbon dioxide emissions, equivalent to removing 61,000 gasoline-powered vehicles from the road.
EVgo’s use of prefabrication techniques at its Jacksonville, Florida facility will expedite deployments while supporting domestic manufacturing.
The chargers will also comply with universal standards, such as SAE J3400 and CCS connectors, ensuring compatibility with all fast-charging-capable EVs.
Supporting disadvantaged communities
EVgo plans to install nearly half of its new EV chargers in locations eligible for the Alternative Fuel Vehicle Refueling Property Tax Credit (30C).
These areas, often economically disadvantaged, will benefit from improved access to public charging, ensuring an equitable distribution of EV infrastructure.
To further enhance community engagement, EVgo is implementing a comprehensive Community Benefits Plan (CBP).
This plan emphasises workforce development, including training programmes and scholarships for electricians to earn EV Infrastructure Training Program (EVITP) certification.
Such initiatives are vital as EV charging projects increasingly require skilled labour to meet state and federal standards.
Catalysing the EV revolution
Fast EV charging is critical to meeting the growing demand for electrified transportation. With automakers expanding their EV portfolios, accessible and efficient public charging is vital for consumer confidence.
While homeowners with garages can rely on Level 1 or Level 2 chargers, public fast chargers are indispensable for those living in multi-family dwellings.
EVgo’s ambitious project, supported by the DOE’s Loan Programs Office (LPO), demonstrates a firm commitment to building a clean energy future.
By addressing infrastructure gaps, fostering economic growth, and reducing greenhouse gas emissions, this initiative positions the US as a global leader in EV adoption and sustainability.
The DOE’s $1.25bn loan guarantee marks a pivotal step toward nationwide fast EV charging availability.
As EVgo accelerates the deployment of cutting-edge chargers across the country, this investment not only supports the nation’s clean energy goals but also underscores the importance of equitable access to EV infrastructure.
