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Climate Tech Break: Paving the Way for EVs
The accelerated adoption of electric vehicles (EVs) has changed the automotive industry forever. Tax credits and subsidies have lowered the initial cost barrier for many. According to the Edison Electric Institute, the number of EVs on U.S. roads is projected to reach 26 million in 2030, up from 19 million in 2018. All eyes now turn to whether or not domestic infrastructure to charge all those EVs can keep pace. This rise in EV popularity can be attributed to several factors, including a greater awareness of the environmental impact of traditional gasoline-powered vehicles and advances in EV technology. The decreasing cost of EV batteries and the availability of government incentives and tax credits also have contributed to this increased adoption.