North Dakota may increase electric vehicle incentives in 2024
The demand for electric vehicles (EVs) is growing and North Dakota has plans to enhance the electric vehicle infrastructure by 2024. In addition, the Inflation Reduction Act Provision will allow customers to use credits at car dealerships to lower the price of clean vehicles, with credits of up to $7,500 available for new vehicles and up to $4,000 for used ones. The North Dakota Department of Transportation is developing a plan to build out the EV infrastructure, focusing on rural areas initially, with the goal of having charging stations every 50 miles.
North Dakota Prepares for Expanding Electric Vehicle Demand
The increasing trend of electric cars on roads is prompting a shift in electric vehicle demand. By 2024, North Dakota’s DOT plans to enhance the state’s electric vehicle infrastructure, matching the growing needs. The Inflation Reduction Act Provision is set to facilitate prospective car owners with credits at dealerships, lowering the cost of both new and used clean vehicles.
Benefits of the Inflation Reduction Act Provision
From January 1, 2024, thanks to the Inflation Reduction Act Provision, customers can access a vehicle credit of up to $7,500 for new clean vehicles and $4,000 for used ones, right at the point of purchase. This is a shift from the previous system where the tax credit was redeemed during tax filing.
Firsthand Experience with EV Ownership
Jason Mosser, an EV owner for five years, experienced this after his car was involved in an accident. Mosser was able to take advantage of the $7,500 tax credit, which he says will be deducted from his taxes due at tax time, using his purchase receipt and date of purchase.
Plans for EV Infrastructure Expansion
The North Dakota Department of Transportation is developing a NEVI plan to expand the state’s electric vehicle infrastructure. Josh Schaffner, Energy Services Manager at Capital Electric, states that the federally funded plan, which largely involves local coop’s, is expected to increase production in 2024.
Building a Consulting Team for Rural Areas
The state, having received federal funds on October 2, is now assembling a consulting team. This includes rural area property owners and business owners in Steele and Medina. Schaffner predicts the NEVI plan will initially address rural areas, helping the local economy and workers involved in infrastructure development by placing charging stations every 50 miles.
Funding and Regulations for EV Charging Stations
The EV charging spots need to comply with federal government capacity requirements. Funding will be available to aid business owners. Schaffner believes that market forces, rather than regulations, will determine charging station costs. He acknowledges that North Dakota lags behind other states in electric vehicle owner density and infrastructure.
Increasing Number of Public Charging Stations
Touchstone Energy Cooperatives reports over 44,000 public charging stations nationally.
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