Receive industry and products news from the market categories that matter to you most.
Stay up to date on industry news and trends, product announcements and the latest innovations.
NEMA endorses electric vehicle infrastructure bill.
Press Release Summary:
May 06, 2011 - NEMA, on behalf of its Electric Vehicle Supply Equipment/Systems product section, lent support to HR 1685, Electric Drive Vehicle Deployment Act of 2011. Introduced by Reps Judy Biggert, Edward J. Markey, Jerry McNerney, and Anna Eshoo, HR 1685 implements various incentives and programs to foster adoption of electric vehicles and EV infrastructure. HR 1685 extends tax credit through 2014 for purchase and installation of electric vehicle charging infrastructure and expands credit from 30% to 50%.
Original Press Release
NEMA Endorses Biggert-Markey Electric Vehicle Infrastructure Bill
Press release date: May 04, 2011
"Electric vehicle supply equipment is a central component of the Smart Grid and the investments made through this legislation will pay dividends-job creation, enhanced energy security, and a cleaner environment," said NEMA President and CEO Evan R. Gaddis.
HR 1685 extends through 2014 the tax credit for the residential and commercial purchase and installation of electric vehicle charging infrastructure. The credit is currently set to expire at the end of this year. The bill expands the tax credit from 30 percent with a cap of $30,000 for businesses and $1,000 for individuals to Recovery Act levels of a 50 percent credit with a cap of $50,000 for businesses and $2,000 for individuals.
"The deployment of charging infrastructure is crucial to the mass adoption of electric vehicles," said Michael Mahan, GE Industrial Solutions Product General Manager for EV Infrastructure and Chairman of NEMA's EVSES section. "This legislation makes it more affordable for consumers, businesses, and cities to adopt this exciting new technology and to realize all the benefits it enables."
In addition to the tax provision, this bill establishes:
o a deployment communities grant program at the Department of Energy to identify and demonstrate best practices for incorporating EVs and EV infrastructure into the grid and select communities
o bonding authority for EV infrastructure investments
o a loan program for manufacturers to reequip their facilities to produce EVSE or EV components
o a program to encourage adoption of EVs by federal fleets.
NEMA is the association of electrical and medical imaging equipment manufacturers. Founded in 1926 and headquartered near Washington, D.C., its approximately 450 member companies manufacture products used in the generation, transmission and distribution, control, and end use of electricity. These products are used in utility, industrial, commercial, institutional, and residential applications. The association's Medical Imaging & Technology Alliance (MITA) Division represents manufacturers of cutting-edge medical diagnostic imaging equipment including MRI, CT, x-ray, and ultrasound products. Worldwide sales of NEMA-scope products exceed $120 billion. In addition to its headquarters in Rosslyn, Virginia, NEMA also has offices in Beijing and Mexico City.
NEMA. Setting Standards for Excellence
Visit our website at www.nema.org
Don't miss the latest news!