Automotive

Home Charging Financing and Fueling

We’ve been talking for a while about how private vehicle ownership is beginning to look like smartphone ownership. Why not close the loop and make it look like home renovation too?
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Home Charging Financing and Fueling

Bank of America now offers home-charging financing options nationwide through over 10K dealers. The company projects 27.5M home charging units by 2030. When compared to 2022's 1.3M, that’s a 2000% increase. The financial organization says the Inflation Reduction Act's EV incentives will accelerate consumer demand, meaning the customer will be looking for this financing. 

Where will they get all that energy? According to data released by the Federal Energy Regulatory Commission (FERC), 74.1% of new utility energy production in the US was renewable energy in 2022. Including last year's additions, total US energy production is 27.3% renewable, up from 24.1% in 2020.

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