NEVI Overview

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In November 2021, the Investment and Jobs Act (IIJA) allocated up to $7.5 billion over five years for states to enhance their Electric Vehicle charging infrastructure.

The electric vehicle infrastructure funding will help EV drivers to have regular access to charging stations to help avoid a situation where a driver could be stranded without services. Additionally, the added infrastructure will bolster tourism as EV vehicles become more popular nationwide. 

There are two sources for funding: Federal Formula Funding and Discretionary Grants

NEVI Formula Funding

Wyoming is allocated $3.9 million in 2022 and expects $5 million each year for the next four years for a total of $23.96 million for EV infrastructure, including:

  • Acquisition and installation of EV charging infrastructure and traffic control devices and signs.
  • Operation and maintenance of EV charging infrastructure for up to five years.
  • Data sharing about EV infrastructure to ensure long-term success of equipment installed under the formula program.
  • Development activities related to acquisition or installation.
  • Mapping and analysis to evaluate locations for charging infrastructure.

In preparation to execute NEVI funding and other program incentives, the state has developed a Zero Emission Vehicle (ZEV) Strategy. The state has submitted the required NEVI plan to the Joint Office of Energy and Transportation by the August 1, 2022 deadline. See link at the top of the page to download the plan. 

Formula Funding details

State agencies will not own, operate or maintain the charging infratructure through the NEVI program. Instead, this funding will be used to incentivize private industry to build the corridors, which are the interstates in Wyoming. 

The first round of Federal guidance specifies some finer details of the program, including distance between chargers, strength of chargers and other requirements.

Guidance requires formula funding to be priortized on charging stations installed along designated Alternative Fuel Corridors, especially the interstate corridors, before being installed elsewhere. Currently Wyoming's interstates are designated as “EV Corridor-Pending” status by the FHWA. The Secretary of the U.S. Department of Transportation is the decision authority on when corridor build out is complete. 

Guidance also requires charging infrastructure to be open to the public or to authorized commercial motor vehicle operators from more than one company. There are also specifications for charger strength, with requirements for Direct Current Fast Chargers (DCFC) and 150kW and higher charging capacity in each location. 

Wyoming requested exemptions from the requirements that chargers can not be located more than 1 mile from the intersate off-ramp and be no more than 50 miles apart from eachother. More information can be found in the plan linked at the top of this page. 

EV charging infrastructure business planning assistance

Business people seeking business planning assistance for an electric vehicle charging station can contact their local Wyoming Small Business Development Center Network advisor on the SBDC Network web page. Fill in your information in the “Get in touch with your local advisor today” box in the upper-right hand corner.

If you need a business plan review and insights on the financial side of your existing plan, contact Josh Keefe or Justin Mabie on the Wyoming Business Council’s Investments Team or call the main office 307-777-2800.