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 the Wyoming Business Council’s Investments Team or call the main office 307-777-2800.

NEVI Background & 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 could bolster tourism as EVs become more popular nationwide. 

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

NEVI Formula Funding

Wyoming was allocated $3.9 million in 2022 and expects $5 million each year for the following 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

In preparation to execute NEVI funding and other program incentives, the state developed a Zero Emission Vehicle (ZEV) Strategy.

WYDOT 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 alternative fuel corridors, which are the interstates in Wyoming. 

Formula Funding rules and details

Federal rules (see link below) specify requirements for minimum standards for federally funded EV infrastructure. 

These standards ensure that chargers operated by different networks will operate similarly and provide the traveling public with a predictable EV charging experience – no matter what car you drive or what state you charge in. These standards also require that chargers have consistent plug types and charging speeds, common payment systems, and accessible pricing information, locations, and availability.

Requirements also include: 

  • 50 mile minimum distance between charging stations
  • Charging stations placed a maximum of 1 mile from alternative fuel corridor 
  • Charger strength, including requirements for four Direct Current Fast Chargers (DCFC) and 150kW and higher charging capacity in each location

WYDOT NEVI Request for Information (RFI)

In winter 2023/2024, WYDOT issued a Request for Information (RFI) to guage interest from private businesses or local governemnts who intended to apply for NEVI funds. To read the RFI, click here.

WYDOT received six detailed responses. Click the links below to read or download the responses:

WYDOT also received a seventh response that indicated interest from Wild West EV but the company provided no answers to the supplemental questions. 

Consultant studies: EV usage & charging infrastructure economics

WYDOT has hired a consultant, HDR Inc. to write the technical specifications for the NEVI Request for Proposal. HDR completed studies regarding EV charging station economic return on investment and EV use estimates. Although HDR used different methodologies to complete the studies, findings are similar to WYDOT's analyses regarding potential challenges the NEVI program's EV charging infrastructure may have in our state.