EV Charging Incentives: A Guide to Rebates & Tax Credits for Commercial Property Owners
Thinking about adding EV charging to your commercial property but concerned about the upfront cost? You’re not alone. The initial investment is often the biggest hurdle for property owners. The good news is, there are numerous programs available that can significantly lower your costs and help you maximize your return on investment. In fact, depending on your property type and location, you could get anywhere from 30% to 90% back on your investment through grants, incentives, and tax credits.
Let's break down where you can find these opportunities, what they entail, and how to make sure you don't miss out.
Where to Find EV Charging Incentives
Incentives for EV charging installations come from three primary sources: federal, state, and local utility programs. Often, the greatest savings come from combining these options.
1. Federal Programs
The federal government has offered significant programs to encourage EV infrastructure development.
30C Tax Credit: This major federal program provides a tax credit of 6% or 30% of installation costs, up to $100,000. To qualify, your property must be in a low-income or non-urban area. The higher 30% credit requires paying prevailing wages for labor and ensuring 10% of hours are performed by an apprentice. A key deadline to remember is that chargers must be installed and operational by June 30, 2026, to be eligible for this credit.
NEVI Program: The National Electric Vehicle Infrastructure (NEVI) program was created to build a network of supercharging stations along major highways. While this program is currently on hold, it previously provided up to 80% of eligible project costs. Its requirements included locating charging stations near highway exits on alternative fuel corridors.
2. State-Level Programs
State programs are typically rebate-based, meaning you pay for the installation and then receive a rebate check.
While many early state programs have run out of funds, some states like New Jersey, Colorado, New York, California, and Oregon still have robust, replenished programs. For example, New Jersey offers a program that can contribute up to $4,000 per Level 2 charger.
State-level programs may be run by various government sectors, such as tourism, commerce, or energy. It is crucial to check a program’s website to ensure it is still active, as funding can be exhausted quickly.
3. Utility Company Rebates
Utility company programs are the most common source of EV charging incentives, with about 50% coverage across the U.S..
These rebates often cover "make ready" costs, which is the electrical work needed to run power from the main panel to the charger. This can account for 60% or more of the total EV charging system investment.
Some utility programs are very generous, like the one in Georgia that can cover up to 50% of the total cost of a project.
The best way to find these programs is to check the commercial or business section of your utility company's website.
Maximizing Your Success
Getting your incentives is not as simple as flipping a switch. You must be proactive and meticulous to ensure you don't miss out on valuable funds.
Understand Requirements: Every program has specific requirements for equipment, software, and documentation. Be aware of whether pre-approval is needed or if you simply submit documentation after the installation. The larger the incentive, the more likely you will need to apply and get approval upfront.
Keep Meticulous Records: Always maintain thorough records, including all receipts and paperwork, regardless of the program's requirements.
Review All Limitations: Some programs come with long-term operational or reporting requirements. A few programs might even impose limitations on charging fees that could make the incentive financially unviable, so read the terms and conditions carefully.
A Word of Warning: Don't Wait
Tony Booth stresses that these programs do not last forever. He provides examples of property owners in North Carolina and Pennsylvania who were "slow moving" and missed out on significant rebates when the programs ran out of money.
Don't take the chance on missing out on these opportunities. Research available programs in your area, understand their requirements and deadlines, and consider working with an expert to ensure all documentation is submitted properly and on time.
