Company: TOGIW
Filing Date: 2025-04-23
Form Type: 10-K
Source: 0001214659-25-006296
Chunk: 33

Company: TurnOnGreen, Inc.
Filing Date: 2025-04-23
Form: 10-K
Item: Item 1A
Chunk 33
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 any
benefit that a prospective customer may have been eligible to receive.

  18  

We also derive other revenue from regulatory credits.
If government support of these credits declines, our ability to generate this other revenue in the future would be adversely affected.
The availability of such credits may decline even with general governmental support of the transition to EV infrastructure. For example,
in September 2020, California Governor Gavin Newsom issued Executive Order N-79-20 (the “ EO”), announcing a target
for all in-state sales of new passenger cars and trucks to be zero-emission by 2035. On August 25, 2022, the California Air
Resources Board issued the Advanced Clean Cars II, a rule that establishes a year-by-year roadmap so that by 2035 100% of new cars and
light trucks sold in California will be zero-emission vehicles, including plug-in hybrid electric vehicles. The regulation codifies the
light-duty vehicle goals set out in the EO. While the EO calls for the support of EV infrastructure, the form of this support is unclear.
If California or other jurisdictions choose to adopt regulatory mandates instead of establishing or continuing green energy credit regimes
for EV infrastructure, our revenue from these credits would be adversely impacted.

In addition, the California Energy Commission
Clean Transportation Program provides grants to light-duty local government and tribal government fleets for the purchase, installation,
and maintenance of Level 2 and DCFC. Applicants may receive up to $12,500 per Level 2 port and up to $100,000 per DC fast charging port.
Eligible projects must install a minimum of 100 charging ports. Applicants must be in California and provide a cost share of at least
30% for limited segments.

Taxpayers who purchase an eligible vehicle may
qualify for a tax credit of up to $7,500 for qualified new vehicles and up to $4,000 for qualified pre-owned vehicles. Eligibility for
the clean vehicle tax credit is based on a number of requirements for new and pre-owned vehicles including income and vehicle requirements.

The size and composition of the national public
charging network will ultimately depend on evolving consumer behavior and will vary by community.

While growth in all types of charging is necessary,
the eventual size and composition of the national public charging network will ultimately depend on the national rate of EV adoption,
EV preferences across urban, suburban, and rural locations, access to

residential/overnight charging, and individual
charging preferences. The size (as measured by number