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    EVgo Anticipates 7.5K New Charging Stalls Across U.S. Thanks to DOE $1.25B Loan Guarantee

    Dec. 16, 2024
    While the first deployments will include dual-port high-power 350-kW DC fast charging equipment capable of charging two EVs simultaneously, EVgo plans to continue installing power sharing equipment over the 5-year deployment timeline.
    Image credit EVgo/GM
    676046583183afc079a0a614 Evgo Gm

    Electric vehicle charging infrastructure developer EVgo, which already has installed thousands of charging stations nationwide, is poised to expand at an even more accelerated pace with a $1.25 billion loan guarantee closed this fall with the U.S. Department of Energy’s Loan Programs Office.

    The loan guarantee will help EVgo deploy approximately 7,500 new chargers at roughly 1,100 charging stations across the U.S. While the first deployments will include dual-port high-power 350-kW DC fast charging equipment capable of charging two EVs simultaneously, EVgo plans to continue installing power sharing equipment over the 5-year deployment timeline. (Direct current is often considered a more efficient energy delivery method for on-site power, microgrids and EV charging).

    The expansion will push EVgo well past 10,000 fast charging stalls around the country by 2029, the company says.

    “As one of the nation’s leading public fast charging providers, we are well-positioned to deploy the infrastructure needed to support both current and future domestic investments in transportation electrification,” said EVgo CEO Badar Khan, in a statement. “This public-private partnership will help us continue to scale our operations to serve the influx of vehicle options that will be available to American consumers in the coming years.”

    EVgo will leverage prefabrication from a facility in Jacksonville, Florida to speed up deployments. EVgo will deploy the chargers across the country, including in Arizona, California, Florida, Georgia, Illinois, Michigan, New Jersey, New York, Pennsylvania, and Texas. With DC fast chargers (DCFC), drivers easily reach 80 percent charge in about 20 minutes (though charging speed may vary based on vehicle and battery conditions).

    EVgo aims to install more than 40 percent of new charging stations in disadvantaged communities, as identified by the Climate and Economic Justice Screening Tool.

    The project will benefit from the Alternative Fuel Vehicle Refueling Property Tax Credit, also known as 30C, which was created by the Biden-Harris Administration’s Inflation Reduction Act and is available for EV chargers located in non-urban or low-income communities.

    EVgo expects to install roughly half of its new charging stations in 30C-eligible Census tracts, bringing public charging infrastructure to economically disadvantaged lower-income communities to ensure equitable investment in transportation electrification.

    The loan guarantee is offered through LPO’s Title 17 Clean Energy Financing Program, which includes financing opportunities for innovative energy and supply chain projects and projects reinvesting in existing energy infrastructure. Across all LPO’s programs, DOE has involved 212 applications for projects across the country totaling over $324.3 billion in requested loans and loan guarantees, as of November.

    This year, EVgo and automaker General Motors (GM) embarked on a massive deployment for public fast-charging infrastructure for EVs. The GM-EVgo collaboration has surpassed 2,000 fast charging stalls through the companies’ metropolitan market partnership.

    In a recent interview with CNBC, Khan pointed out that the company has installed more than 3,400 chargers in 35 states, so it’s not just technology in coastal states. He touted the potential for wider adoption as battery technology becomes more efficient and affordable.

    The fastest growing states for EVgo’s technology are Texas and Florida, he noted. EVgo is the owner and operator of the fast-charging sites it deploys, the CEO added.

    About the Author

    Rod Walton, EnergyTech Managing Editor | Senior Editor

    For EnergyTech editorial inquiries, please contact Managing Editor Rod Walton at [email protected].

    Rod Walton has spent 15 years covering the energy industry as a newspaper and trade journalist. He formerly was energy writer and business editor at the Tulsa World. Later, he spent six years covering the electricity power sector for Pennwell and Clarion Events. He joined Endeavor and EnergyTech in November 2021.

    Walton earned his Bachelors degree in journalism from the University of Oklahoma. His career stops include the Moore American, Bartlesville Examiner-Enterprise, Wagoner Tribune and Tulsa World. 

    EnergyTech is focused on the mission critical and large-scale energy users and their sustainability and resiliency goals. These include the commercial and industrial sectors, as well as the military, universities, data centers and microgrids. The C&I sectors together account for close to 30 percent of greenhouse gas emissions in the U.S.

    He was named Managing Editor for Microgrid Knowledge and EnergyTech starting July 1, 2023

    Many large-scale energy users such as Fortune 500 companies, and mission-critical users such as military bases, universities, healthcare facilities, public safety and data centers, shifting their energy priorities to reach net-zero carbon goals within the coming decades. These include plans for renewable energy power purchase agreements, but also on-site resiliency projects such as microgrids, combined heat and power, rooftop solar, energy storage, digitalization and building efficiency upgrades.

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