Over the past several years, research analyst firms have increased their electric vehicle forecasts as demand for EVs continues to surpass earlier projections. Wood Mackenzie now expects the global electric vehicle market to surpass 37 million by 2025 and notes this electric revolution relies on smart EV infrastructure in the right mix of locations. The report goes on to outline the rise of workplace charging. Their research indicates that North America and Europe could see 500,000 workplace charging stations by 2022 and over 1.25 million commercial charging stations at workplaces by 2025.
Unaware about what benefits EV chargers offer?
4 ways EV charging can benefit your business
Reap EV rebates while you can
In an effort to accelerate adoption of electric vehicles, federal, state, and local governments have sought to provide incentives and subsidies for individuals and businesses who embrace change.
- Federal tax credits –The American Recovery and Reinvestment Act provides a tax credit for all owners of EVs. Per the U.S. Department of Energy: All-electric and plug-in hybrid cars purchased in or after 2010 may be eligible for a federal income tax credit of up to $7,500. The credit amount will vary based on the capacity of the battery used to power the vehicle. State and/or local incentives may also apply. Fortunately for you, businesses that switch their company cars over can claim this credit. But doing so necessitates the installation of EV charging stations.
- State and local rebates – Depending on your state, your business may be eligible for a host of electric car tax credits for both switching over to electric company cars and installing stations. For example, the National Grid incentive program covered 100% of the EVSE costs including hardware, software, EV charger installation and maintenance for a new project at Gillette Stadium for a total of $183,733. 50 JuiceBox Pro electric vehicle smart charging stations will be installed throughout Patriot Place.
Today, in California there are nearly 10 local commercial incentives which include:
CALeVIP - Fresno County Incentive Project
The Fresno County Incentive Project (FCIP) provides rebates for the purchase and installation of Level 2 EV charging stations in Fresno County. Rebates of up to $4,000 for single port EV chargers and up to $7,000 for dual port EV chargers available.
CALeVIP - Sacramento County Incentive Project
The Sacramento County Incentive Project provides up to $6,500 per Level 2 charger and up to $80,000 per DC fast charger (or 80% of total project cost, whichever is less). An additional $1,000 per connector is available for multi-unit dwellings (MUD).
LADWP Commercial EVSE Rebate
The Los Angeles Department of Water and Power (LADWP) provides rebates to commercial customers toward the purchase of Level 2 EVSE. Commercial customers who purchase and install EVSE for employee and public use can receive up to $5,000 for each charger, with up to $750 in additional rebate funds per extra charge port.
MCEv Charging Program
MCE’s EV Charging Program covers both large and small charging stations (from 2 to 20+ charging ports) and provides up to $3,000 per Level 2 charging port installed.
Pasadena Department of Water & Power Commercial EVSE Rebate
PWP provides rebates of $3,000 per port for commercial, workplace, multi-unit dwelling (MUD), and fleet customers for the installation of networked Level 2 EVSE, or rebates of $1,500 per port for non-networked Level 2 EVSE.
SCE EVSE Rebate
Southern California Edison (SCE) offers electric vehicle drivers a rebate of up to $1,500 toward their expenses for the electrical upgrades and permitting fees necessary for EVSE installation.
SMUD Commercial EVSE Rebate
Sacramento Municipal Utility District (SMUD) offers rebates for commercial customers to purchase and install Level 2 EVSE and DC-fast chargers at their business. Eligible applicants may receive up to $6,500 per connector for a Level 2 charger and up to $80,000 per DC Fast Charger.
San Luis Obispo Air Pollution Control District Commercial Rebate
The SLOPC District is offering commercial rebates covering up to 65% of project costs for EVSE installed in the San Luis Obispo District.
- Incentives can often cover up to 100% of the cost, making EV charging an excellent investment for commercial businesses It is important to move quickly to implement you EV charging strategy because the incentives that exist today to encourage market growth might not be there in 5 or 10 years.
If you want to see what your potential state and local rebates and tax incentives are, check out our current and comprehensive incentive overview.
If your business is pushing a sustainability strategy, adding EV charging stations is one of the easiest steps you can take. By adding charging stations, you demonstrate to both your employees and customers that you are taking action to promote sustainability and do your part in reducing emissions.
Providing EV charging can also earn you points towards recognized sustainability metrics. Installing EV charging can help earn LEED certification through credits provided for installing charging stations. And by encouraging employees to ditch their ICE vehicles for EVs, you can report the associated emissions reductions from cleaner employee commutes, which count toward the Scope 3 emissions under the GHG Protocol for corporate sustainability reporting.
If you want to include EV charging as part of a corporate sustainability strategy, it is essential to go with smart EV charging infrastructure. Smart EV charging often includes a dashboard such as JuiceNet Enterprise, which offers energy optimization to manage EV charging energy use and the ability to view reports on energy usage and calculate carbon offsets across your entire organization. With smart EVSE, you can even help utilities implement strategies to use EV charging electric load as a tool to help integrate renewable energy into the electric grid. With the right smart EV charging software, EV charging can be synchronized with the highest levels of cleaner energy or paused at times when it would result in the introduction of high-emission energy generation.
Over time, your continued action of promoting sustainability will allow others to see that you mean it. As a result, they will begin to trust you when you speak on a subject or take action to mitigate your carbon emissions. Eventually, this helps to build up your authority as a brand that genuinely cares about business sustainability.