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Reading: EV Charging Companies Struggle to Build as Climate Bill Boosts Incentives
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The Wall Street Publication > Blog > Tech > EV Charging Companies Struggle to Build as Climate Bill Boosts Incentives
Tech

EV Charging Companies Struggle to Build as Climate Bill Boosts Incentives

Editorial Board Published August 12, 2022
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EV Charging Companies Struggle to Build as Climate Bill Boosts Incentives
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The Democrats’ climate and tax bill increases incentives for buying electric-vehicle chargers, benefiting companies that are already rushing to build or install them. But permitting and supply issues remain, and the financial support won’t be a panacea.

The Biden administration wants 500,000 public chargers by 2030; McKinsey & Co. estimates that as many as 1.2 million are needed. So far, the U.S. has around 124,000 public chargers, most of which take several hours to repower a car, according to government data.

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