EV Charging Incentives

Electric Utility Incentives

Utility “make ready” incentives are programs offered by some electric utilities to help cover the costs associated with preparing a site for electric vehicle (EV) charging infrastructure. These incentives can include funding for site assessments, engineering studies, and the installation of necessary electrical infrastructure such as power poles and transformers. The goal of these incentives is to make it easier and more cost-effective for businesses and organizations to install EV charging stations and promote the adoption of electric vehicles.

By providing financial assistance for the “make ready” work, utilities can help to reduce the barriers to EV charging infrastructure deployment and accelerate the transition to a cleaner, more sustainable transportation system. These programs are a great way for businesses and organizations to get started with EV charging infrastructure and help promote the shift towards electric mobility.

Some utilities will also offer incentives to cover all or part of the cost of EV charging hardware and networking.

State Incentives

Some states still offer specific EV Charging incentives for Level 2 charging, typically for specific areas of focus, like multi-family housing.

For the past several years, states received funding from the Volkswagen Dieselgate scandal.  As a result of this scandal, VW was required to pay billions of dollars in fines and settlements. A portion of these funds was set aside to be used by states to promote the deployment of zero-emission vehicles (ZEVs) and related infrastructure, such as EV charging stations.

In 2022, Congress passed the Bipartisan Infrastructure Bill which contained the National Electric Vehicle Infrastructure Program (NEVI). The program is aimed to support the deployment of electric vehicle (EV) charging infrastructure across the United States. It would provide funding for the installation of EV charging stations in various locations, including highway rest areas, public parking lots, and other publicly accessible locations.

The program would be administered by the Department of Transportation (DOT) and would be funded by a grant program directed to each State. The grant program would provide the majority of funding for the installation of EV charging stations, as well as for the planning and design of EV charging networks.

Federal Incentives

The Inflation Reduction Act (IRA) EV Charging Infrastructure Tax Credit is a federal tax credit available to businesses and organizations that install electric vehicle (EV) charging infrastructure. The credit provides a dollar-for-dollar reduction in a business’s federal tax liability, based on the cost of the EV charging equipment and installation. The credit amount is 30% of the cost of the charging equipment and installation if installed in low-income or disadvantaged communities and 6% for all other properties.

The IRA EV charging infrastructure tax credit is designed to encourage the deployment of EV charging infrastructure and help to make it more affordable for businesses and organizations to install charging stations. This tax credit is a valuable tool for businesses and organizations looking to promote the adoption of electric vehicles, as it helps to offset the costs of deploying EV charging infrastructure and makes it more economically feasible for companies to install charging stations.

Sona can help you take advantage of these programs, providing up-to-date funding availability and expected approval times. We can help with grant and rebate applications and assist with the data reporting required to receive some grants & rebates.