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.