Electric vehicles (EVs) have become mainstream with many car manufacturers joining Tesla and releasing all-electric models. With this evolution, there is an increasing need for ways to keep them charged outside of a home. Beyond supplying the electricity to charge a vehicle, electric vehicle charging stations offer a wealth of knowledge to owners, operators, and drivers alike, thanks to IoT and cellular connectivity.
IoT Charging Stations: Charging EVs
As a connected device, EV charging stations offer many benefits to both the consumer and the operator. From the consumer’s perspective, there is a lot of information they need to know. Where are the charging stations located? How long will it take to charge my EV? What will it cost? These are all questions that can be answered by EV charging stations. And in many cases, these stations make it easy to pay directly from a mobile app because of IoT.
On the other hand, IoT enables operators to gain critical information about each charging station without the need to physically visit — everything from how often it is being used to alerts on potential maintenance needs. All of this information can lead to operating efficiencies that ideally lead to ROI —whether it is scheduling preventative maintenance or reducing on-site time with the devices. We are still in the early days of EVs, and we expect an influx in adoption and innovation with the recent push from the government to invest in climate change initiatives.
Inflation Reduction Act: Investing in Climate Change
The Inflation Reduction Act has made headlines this summer. This broad proposal was created to fight inflation, negotiate prescription drug prices, and extend the expanded Affordable Care Act program for three years. It also serves to invest in manufacturing and domestic energy production and reducing carbon emissions.
The Energy Security and Climate Change Investments in the Inflation Reduction Act puts the U.S. on the path to reduce carbon emissions by roughly 40 percent by 2030. There are several key aspects of the bill, including lowering energy costs for Americans, increasing American energy security, investing in decarbonizing all sectors of the economy, investing in disadvantaged communities, and supporting resilient rural communities.
Inflation Reduction Act: Supporting EV Growth
As clean vehicles, EVs produce less harmful impacts on the environment than those running on gasoline or diesel. Everyone in the industry, whether it be the manufacturers who build EVs or the consumers who drive them, can stand to benefit. The benefits also include:
- $10 billion investment tax credit to build clean technology manufacturing facilities, including those that make electric vehicles, wind turbines, and solar panels.
- $2 billion in grants to retool existing auto manufacturing facilities to manufacture clean vehicles.
- Up to $20 billion in loans to build new clean vehicle manufacturing facilities across the country.
- Tax credits and grants for clean fuels and clean commercial vehicles to reduce emissions from all parts of the transportation sector.
- $1 billion for clean heavy-duty vehicles.
The Need for Connectivity
With the extensive investment in clean vehicles, there will be an increased need for more connected charging stations across the country that will support both consumer and commercial vehicles. Electric vehicle charging stations powered by IoT will soon become a necessity and a great asset for all EVs.