The White House is set to roll out a national network of 500,000 electric vehicle chargers backed by $7.5 billion in funding from the bipartisan infrastructure bill. That funding is the largest single U.S. investment in EV infrastructure ever. This includes $5 billion in funding for states to install chargers and another $2.5 billion in grants for communities and corridors to adopt more innovative approaches and reach underserved areas.

A mass deployment of electric vehicle (EV) chargers will require creative third-party leasing and innovation from utilities. Investors will require more advanced business models that will yield returns, especially when looking at fleets or businesses that will require significant numbers of EVs, like taxi services or ride-sharing companies. Individual utilities will have to provide “a level of compensation” to make a private investment in expensive charger installation worthwhile.