As the national transition to electric vehicles gets underway in earnest, businesses across the country are looking for ways to be a part of the movement. With President Biden’s Electric Vehicle Charging Action Plan setting the ambitious target that electric vehicles make up 50% of all auto sales in the US by 2030, there will be an ever-increasing need for charging stations, both locally and along travel corridors. Organizations that rely on fleets, auto dealers, and apartment building owners are just a few of the many businesses and individuals who will need to navigate the extreme changes coming to fueling infrastructure, if they haven’t already. Soon, millions of cars will get their power from charging stations, rather than gas stations, representing a once-in-a-generation opportunity.
If you’re a business, you may be wondering, “how much does it cost to install a public EV charging station?”
With the flexibility in potential EV charging station locations, and the extended time it takes to charge an electric vehicle, compared to filling up a gas tank, for some businesses, onsite charging stations represent a new opportunity for capturing market share and the consumers who are tethered to a charging location for 20-45 minutes on average. Other businesses, such as auto dealerships, may be looking to upgrade their infrastructure to support the charging requirements of electric vehicle inventory that needs to be ready for test drive at a moment’s notice. Corporations, meanwhile, maybe looking to add the perk of EV charging for their commuter employees.
Fortunately, due to the plethora of available funding, including $7.5 billion made available by the passage of the Infrastructure Investment and Jobs Act, which became US law on November 15, 2022, right now, installing a public EV charging station is far more affordable than you might think.
Federal Funding for Publicly Accessible Charging
Section 11401 of the Infrastructure Investment and Jobs Act, (p. 118) earmarks maximum grant amounts of no more than $15 million dollars and no more than 80% of the total project cost (p. 125) for qualifying projects of electrical, hydrogen, propane or natural gas fueling infrastructure. These funds are for charging stations that may be accessed by the general public, though they may be located on private property.
“A project receiving a grant under this paragraph may be located on any public road or in other publicly accessible locations, such as parking facilities at public buildings, public schools, and public parks, or in publicly accessible parking facilities owned or managed by a private entity.” (p. 124)
State Incentives for Commercial EV Chargers
Meanwhile, on the state level, new money is coming online all the time to support the creation of local EV charging station infrastructure. Depending on where you live, your business or home may qualify for thousands of dollars in assistance. Here are some examples of state-level incentives:
California
California businesses can apply for rebates through the California Electric Vehicle Infrastructure Project (CaleVIP) for Level 2 charging station equipment and installation. In Southern California up to 75%, up to $6,000, can be covered for qualifying sites.
Michigan
Public or private organizations enrolled in a utility EV program may apply for the Charge Up Michigan state grant that will cover no more than 33.3%, or $70,000 for eligible EV charging equipment.
Vermont
In Vermont, there is $1 million currently available – up to $80,000 per site— for charging station implementation at qualified multi-unit housing sites.
New Mexico
As part of a lawsuit settlement involving Volkswagen, New Mexico is offering millions of dollars in funding for electric vehicle charging infrastructure grants.
These are just a few of many state level incentives available right now to fund commercial EV infrastructure. On the residential side, there are more opportunities, in addition to the ongoing $1,000 Federal Tax Credit.
Utility Incentives
State utility companies also provided incentives to implement charging infrastructure. Check out these examples:
Texas
In Texas, the Austin Energy Commercial EVSE Rebate is offering up to $4,000 for Level 2 chargers and up to $10,000 for DC Fast Chargers installed at workplaces. [Add links to appropriate JuicePump products]
New York
National Grid in New York is offering up to 100% coverage for the costs associated with installing commercial electric vehicle charging stations.
New Hampshire
The New Hampshire Electric Co-Op is offering up to 75%, with a cap of $5,000 for the installation of commercial EV charging stations.
The Time to Install Commercial EV Charging Infrastructure is NOW!
The referenced opportunities only scratch the surface of currently available funding for commercial EV charging infrastructure. But these opportunities won’t last forever. Now is the time to install the charging stations you need to stay competitive in a changing energy environment.
Enel X Way Commercial and Residential Chargers Qualify for State, Federal and Utility Sponsored Rebates!
HiON Distribution is proud to be a supplier of Enel X Way’s low-cost, fast charging solutions. We are standing by ready to help you select the appropriate charger for your site.
