Crowdfunding for Equitable EV Charging Infrastructure

TL;DR

This paper explores using crowdfunding to finance equitable EV charging infrastructure, aiming to involve underserved communities and address social equity challenges in the transition to electric vehicles.

Contribution

It introduces crowdfunding as a novel approach to finance EV charging stations, emphasizing community engagement and equitable distribution aligned with Justice40 goals.

Findings

Crowdfunding can effectively support infrastructure in disadvantaged areas.

Engagement strategies can empower underserved communities.

Scaling crowdfunding can develop equitable EV networks.

Abstract

The transportation sector significantly contributes to greenhouse gas emissions, highlighting the need to transition to Electric Vehicles (EVs) to reduce fossil fuel dependence and combat climate change. The US government has set ambitious targets for 2030, aiming for half of all new vehicles sold to be zero-emissions. Expanding EV charging stations is crucial for this transition, but social equity presents a significant challenge. The Justice40 program mandates that at least 40% of benefits be allocated to disadvantaged communities, ensuring they benefit from federal investments. Given the current concentration of EV ownership in affluent areas, merely installing charging stations in disadvantaged neighborhoods may not suffice. This article explores crowdfunding as a novel method to finance EV charging infrastructure, engaging, and empowering underserved communities. The paper concludes with a hypothetical case showing financing benefits for disadvantaged communities, exploring crowdfunding variations, and scaling to develop equitable EV charging networks.