Finding the most appropriate title for this Federal boondoggle was difficult, because of the number of government projects that waste taxpayer funds. History tells us that the private sector is a more efficient allocator of capital. From the factsheet:
Electrification is an opportunity to support “good-paying union jobs across American supply chains…” So good paying non-union jobs don’t count? Biden wants to spend $5 billion of your money to build out charging stations. Notably, they want to make sure that 40% of the funds for charging stations are spent on installations in economically disadvantaged neighborhoods. There are hints that installation of the network will be done by a unionized workforce.
On the surface, this looks great. With charging stations everywhere, you don’t have to worry that your EV only goes a short distance before needing a recharge. Biden’s plan also includes billions to source raw materials for battery makers. One of the materials happens to be cobalt. Hmm.
A minor issue with the plan is that battery technology is evolving so that cobalt for example, is being phased out. In fact, cobalt is being phased out of the entire EV powertrain but if you work for the government putting together a boondoggle, it is not relevant.
What about that range anxiety thing that is preventing everyone from buying EV’s? Again, technology has this nasty habit of evolving. Each year, the range per charge of EV’s will improve. By 2030, you will likely be able to go 1,000 miles per charge in a host of vehicles. That is like having an ICE car getting 25 mpg with a 40-gallon gas tank. A private company called Our Next Energy has already tested a new battery pack in a Tesla. They got 750 miles out of it before it needed recharging. Tesla Model S Goes 752 Miles with a Startup’s Prototype Battery (caranddriver.com) By the time Biden’s plan is done, you will be able to buy cars that recharge at the same speed it takes to fill up a gas tank. I don’t know anybody who has a gasoline pump in their home or apartment building, but “coil switching” technology and other refinements to the EV drive and charging system allow the vehicle to be plugged into a common 115V outlet. So, if you live in a single-family home and have an electrical outlet in the garage, your vehicle will always be fully charged first thing in the morning. And installing outlets in apartment garages would be a nice marketing point for the rental office.
The Biden plan is designed as if gas stations are going to just quit selling gasoline and diesel when EV’s take over and hope to keep their service stations over selling Slim Jims and Doritos. Somehow, I don’t think that’s how it will play out. https://electrek.co/2022/01/16/bp-claims-ev-charging-stations-on-the-cusp-of-being-more-profitable-than-gas-pumps/
Service stations will swap out gas pumps for EV chargers, people will be charging at home and in the garages of their apartments, and a bunch of EV charging companies that went public are already building out charging networks. And as range per charge keeps increasing (OK, with diminishing increases in the “out years”), we may have overbuilding of charging stations even without our taxpayer dollars being spent in the next 4 years on chargers which themselves will become fossils within the following few years as charging technology itself improves.
Other than the above, Biden’s plan is fantastic. I feel warm and fuzzy already. Don’t you?
