EV Chargers are Here to Stay
Which is why it’s critical that your business consider ways it can leverage them. Electric vehicle (EV) chargers — also called electrical vehicle supply equipment (EVSE) — represent a multifaceted opportunity for your organization — from helping to increase brand loyalty to contributing to in-store revenue growth. Additionally, there are money-saving opportunities in the form of EV charger rebates, which can help to offset the costs of using EV chargers.
We’ll explore these rebates in depth in this post, but first, it’s important to clarify why EV chargers are worth your consideration.
Why Invest in EV Chargers?
Consumer interest in EVs has been slow to start, but as charging stations have become more available and the incentives to own an EV grow, the rate of adoption has accelerated. Recent data shows that more than 70% of drivers in the U.S. would consider buying an EV in the future. Additionally, one-third reported being interested in purchasing an EV as their next vehicle. Organizations looking to increase their connections with customers and provide reasons to visit their facilities would be wise to consider EV charger installation to support this growing demand. Here are a few more reasons to consider EV chargers:
- There are an estimated two million EVs on the road today in the U.S.
- The demand for EV chargers is high (the U.S. has 168,000 gas stations but only 44,417 public EV charging stations)
- 70% of the U.S. has EV charger rebates available to incentivize installation
- There are currently more than 500 active rebate programs for EV chargers
- Additional Federal tax credits may be available for EV charger usage
What Types of EV Charger Rebates are Available?
There are a few different types of EV charger rebates that organizations can take advantage of depending on the situation, facility type, and other key factors. It’s important to understand that not all rebates are available in all areas; it depends on where you are, what type of structure the charger is being installed in, which manufacturer you’re working with, the local utility, and more. Below are some of the most common EV charger rebates available:
- Prescriptive/Standard — The most common option, prescriptive rebates make up the majority of rebates nationwide and are structured as a fixed dollar amount per unit of measure (such as by charger or by port count).
- Make-Ready — These rebates don’t cover the charger itself but will help offset the costs of making a space ready for chargers, such as the utility-side costs or the actual cost of building out the space. Consult your provider for more details.
- Midstream — Unlike the above rebates which typically issue a check or utility credit after installation, midstream rebates (also called instant or point of purchase) simply take a portion of the cost of the charger off the top, right when it’s purchased.
- Turnkey — These rebates are offered through a provider, such as a utility. The provider handles the full process from start to finish and typically deducts the cost of the charger from the total invoice.
Other rebate types and programs are available on a case-by-case basis. It just depends on where you are, what programs are available, and what you’re looking to accomplish. Additionally, funding for EV chargers may be available through the National Electric Vehicle Infrastructure (NEVI) Formula Program.
Work with the Experts on EV Charger Rebates
CLS Facility Services offers EV charger procurement and installation solutions. Available nationwide and through our proven vendor network, we can partner with you to implement EV chargers at your locations — whether you have a few dozen or a few hundred. Additionally, thanks to our expertise in energy solutions, we can support you with pursuing the best EV charger rebates for your location, equipment, and more.
When you work with us for EV charger rebates and installation services, you’ll benefit from more than 50 years of facility asset management expertise. Our experienced and tenured team understands the intricate requirements of this program type and will work closely with you upfront to outline all program costs, build a list of all assets, coordinate installation and maintenance with our national network, and provide ongoing reporting and strategic budgeting assistance to maximize your investment.
Are you an EV charging solutions provider? Learn more about working with CLS.