KNOXVILLE, Tenn. — The Tennessee Valley Authority on Friday announced its board had passed the first steps to expand access to electric vehicle charging across the region.
The board passed an initiative that it says will support the expansion of electric vehicle infrastructure by approving a new commercial rate structure, which they believe will enable broader adoption of EVs with significant environmental and cost advantages.
TVA said it wants to emerge as a key player in EV development following recent announcements from General Motors and Volkswagen that they would be investing and expanding production of electric vehicles in Tennessee.
“TVA is an industry leader in delivering low-cost, clean energy, and we intend to take a leadership role in electric vehicle transportation,” said Jeff Lyash, TVA president and CEO. “According to the Environmental Protection Agency, traditional forms of transportation are a leading source of carbon emissions while a single electric vehicle can reduce those emissions by 8,600 pounds per year.”
The board also approved a full Fiscal Year 2021 budget of $9.8 billion, with $2.4 billion going toward capital improvements to generation, transmission and infrastructure assets.