FHA Plans Electric Corridors
It is no surprise to anyone working with both electric and diesel that the refueling network for the latter grossly outperforms the former, and as such operating a fully electric fleet is currently economically unviable. To that end, the Federal Highway Administration (FHA) is working to create corridors, specific highways that have guaranteed charging for truckers along them.
Details
The plan to feasibly cover the entire 48 contiguous states, called the National Zero-Emission Freight Corridor Strategy by the Biden Administration, is currently set to become reality in 2040. The plan right now, however, is to create separate corridors for high-traffic areas and then eventually expand them until they connect to one another. The expansion plan is similar to the transcontinental railroad in the 1800s, where the two networks met somewhere in the middle.
Right now the current plan is to create corridors in California, Kentucky, Massachusetts, and Oregon. By the time the National Zero-Emission Freight Corridor Strategy is finished, officials believe it will cover approximately 50,000 miles of road.
“For over a century, petroleum-fueled freight has transported vital food and resources to American families but at the same time, these vehicles have also contributed to lower public health, especially in densely populated communities,” said U.S. Secretary of Energy Jennifer M. Granholm. “The Biden-Harris Administration is addressing this issue head-on with innovative strategies to transform freight so it not only supports American families and businesses, but also protects the environment for future generations.”
Conclusion
With this program still in its infancy, it is highly likely that it will be gutted should the Biden-Harris Administration lose the 2024 election. Should they win, however, they will be able to make significant progress on constructing the corridors over the next four years, to the point where it would no longer make sense to simply abandon the project (the current plan is over 19,000 miles by 2027). We will have to wait and see the outcome of the upcoming election to determine the fate of the trucking industry, as to whether it pursues electrical charging or sticks with the tried-and-true diesel fuel.
ABOUT TOPMARK FUNDING
TopMark Funding is a top-rated semi-truck financing and trailer financing company located in Roseville, CA. We specialize in commercial trucking and heavy equipment. Our mission is to become your long-term financial partner by helping you grow your trucking business and fleet.
We’re not here for the short-term, we’re on the long-haul with you!
We have financing options for trailers, semi-trucks, commercial trucks, and small businesses. We have great rates, low down payments, and flexible monthly payments regardless of credit history.
Learn more about Trailer Financing.
Fill out the contact form or give us a call at (866) 627-6644. One of our truck financing specialists will contact you as soon as possible to go over your truck lease needs and learn more about you and your business financing goals.