Increasing Equitable EV Access and Charging

• Published in: Policy File 2022
• Main Authors: Carreon, Alessandra R, Klock-McCook, Edward J, Mohanty, Sudeshna, Odom, Caitlin, Teplin, Charles, Toth, Sarah
• Format: Report
• Language: English
• Subjects: Energy; Rocky Mountain Institute; Transportation

The Inflation Reduction Act (IRA) represents the single largest investment to date by the United States to modernize the US energy system. It has the potential to accelerate an electrified, equitable, distributed energy future --- one that many electric utilities and utility regulators have been working toward for the past decade or more. But that potential won't be realized unless state utility regulators take further action to ensure the IRA is implemented in the public interest and results in an affordable and reliable energy future. Further, some key provisions of the IRA, such as the Energy Infrastructure Reinvestment (EIR) Program, expire in the middle of this decade, making it imperative for utilities and regulators to come together quickly to capitalize on these offerings. The IRA's myriad tax and financial mechanisms have the potential to fundamentally alter the electric utility's financing landscape by mitigating barriers to retiring uneconomic fossil fuels and accelerating deployment of carbon-free resources. Specifically, there are five sections of the IRA that will fundamentally change the landscape for electric utilities and consequently, the purview and actions required of utility regulators.