Financing Electric Vehicle Markets in New York and Other States
Should policymakers incentivize electric vehicle (EV) purchases first or invest in charging stations first? This report explores this so-called chicken-and-egg dilemma and provides recommendations for growing the EV market and increasing investment in EV charging stations. We compare EV markets across states with a focus on New York, which falls in the middle of the 50 states in terms of EVs as a percentage of new car registrations and number of chargers per capita. Our analysis suggests that the best way for policymakers to facilitate the growth of the overall market is to grow electric vehicle purchases and allow the private sector to provide charging. At the same time, there are important roles that governments can play in facilitating the development of a more robust EV charging infrastructure. This report also explores policy options for supporting a growing EV and EV charging market.