TVPPA signed as a founding participant with a broad coalition of organizations from the business, education, government and non-profit sectors to launch the Southeast Electric Transportation Regional Initiative (SETRI). SETRI addresses the need for coordination and collaboration among key stakeholders to realize the benefits of electric transportation in the Southeast.
The Southeast represents 18% of the nation’s population while capturing over 28% of America’s EV manufacturing investment. In addition, it accounts for a significant share of direct and supply chain jobs across a range of EV markets, including light duty vehicles, buses, and medium and heavy-duty trucks. Of the $24 billion in committed investments by automakers and battery manufacturers, over one quarter are in the Southeast.
The region is also well positioned to accelerate EV deployment across a diverse set of applications, including fleets used by the Valley’s public power companies. According to a Southern Alliance for Clean Energy (SACE) analysis, the transition from gasoline and diesel powered vehicles could provide a boon of $47 billion to the region’s economy.
While the Southeast emerges as a hub for EV manufacturing investment and job creation, it lags in the nation in EV sales and charging station deployment, accounting for just 10% of national EV sales and 13% of EV chargers deployed. It is also significantly underrepresented in utility and government funding for transportation electrification with approximately 1% of utility investment and 4% of government funding across the nation.
With these statistics in mind, SETRI aims to address regional market challenges such as: electric vehicle (EV) charging and infrastructure gaps, accessibility, EV model availability and cost, policy guidance, and consumer awareness while unlocking untapped opportunities for economic development, jobs growth, enhanced energy security, and reduced environmental impacts opportunities.
The abundant, affordable and increasingly clean electric power found in the Southeast benefits the region and its public power companies with opportunities such as:
- Continued job growth as manufacturing facilities are developed across the region,
- Improved energy security and resilience,
- Grid efficiency improvements and downward pressure on electric rates,
- Lowered operational costs for the region’s fleet operators,
- Improved air quality and reduced CO2 emissions,
- New mobility options and reduced energy burdens for low- and moderate-income populations.
To accelerate regional transportation electrification growth throughout the Southeast, SETRI intends to promote regional EV market development, conduct education and outreach to consumers and decision-makers, coordinate state electrification efforts and university research, and collaborate with transportation electrification efforts outside the Southeast.