Excited to share some insights from my internship at Coral EV this summer, where I utilized my background in Financial Economics to analyze and evaluate the viability of electric vehicle infrastructure projects, with a focus on state-level incentive programs and private financing opportunities. The insights from this experience have not only deepened my understanding of investment dynamics and financial operations but also strengthened Coral EV's strategic approach to market expansion and project execution. Here are my key takeaways: 1️⃣ State Incentives Drive Utilization: States like Illinois, New York, and Massachusetts, which offer robust financial support through programs like Charge Ready NY, Drive Electric Illinois, and MASSEVIP, see higher utilization rates for EV chargers. These programs reduce upfront costs and create a more attractive investment landscape 📊 2️⃣ Challenges in Less Aggressive States: States with less aggressive incentive programs, such as Pennsylvania, Virginia, and Ohio, exhibit slower growth in EV charger utilization. The data suggests these programs, while helpful, don't fully offset the financial risks associated with EV infrastructure investments in these regions. As a result, investors may hesitate to enter these markets, leading to slower adoption rates and underutilized charging stations 📉 3️⃣ Population Density Matters: High-density states show better EV infrastructure utilization than low-density areas. States like New York and Illinois, which combine strong incentives with select areas of high density populations, create optimal conditions for EV adoption and economic returns 🏙️ 4️⃣ Strategic Planning Insights: These findings underscore the importance of targeted financial incentives in driving EV adoption and long-term viability of EV infrastructure. This allows Coral EV to make informed decisions about resource allocation and project prioritization, maximizing success potential 5️⃣ Gratitude for the Opportunity: A big thank you to Coral EV Co-Founder and Notre Dame alumni John Ziss for this invaluable learning experience. The hands-on skills I gained will be a cornerstone in my career moving forward. Go Irish ☘️ 6️⃣ My Startup Experience: As a young professional, I loved the opportunity to work in a dynamic, fast-paced environment where I was trusted with key responsibilities that had a real impact on Coral EV. This enabled me to gain hands-on experience in multiple areas—from financial analysis to strategic planning. This experience has been invaluable in developing my skills and passion for innovation and progress🚀 #EVCharging #GreenTech #FinancialEconomics #ElectricVehicles #CleanEnergy #Infrastructure #CareerGrowth
Bonne continuation !
Client Relationship Manager | Building Strategic Partnerships to Drive Workforce Development & Talent Solutions
3moIt was a pleasure working with you. Best of luck to you!