Federal Incentives
- Alternative Fuel Infrastructure Tax Credit (AFITC): This federal tax credit covers 30% of the purchase and installation costs of commercial EV chargers, up to $100,000 per charger. It applies broadly to commercial use cases including workplaces, multi-family buildings, hotels, and parking lot operators. This credit has been in effect since January 1, 2023.
- The AFITC is particularly valuable for projects in eligible census tracts, especially low-income or non-urban areas, which cover about two-thirds of Americans.
State and Local Incentives
- Many states offer additional rebates, tax credits, and grants. As of mid-2021, at least 47 states and the District of Columbia provide EV or EV infrastructure incentives through legislation or utilities.
- For example, New York state offers incentives that cover up to 100% of EV charging station costs for commercial installations, supplementing federal savings.
Utility Company Rebates
- Several utilities provide direct rebates to commercial customers installing EV chargers. For instance, Duke Energy offers up to $500 per Level 2 charger installation for workplaces and multi-unit dwellings.
- Salt River Project (SRP) in Arizona provides substantial rebates including $2,500 per networked Level 2 charging port for businesses, $4,000 per port for government, multifamily, nonprofit, and schools, as well as $20,000 to $25,000 for DC fast chargers depending on the customer type.
- These utility rebates often come with fleet electrification support programs and assessments to aid businesses in transitioning to electric fleets.
Summary
Commercial EV charging projects can benefit from a combination of:
- A 30% federal tax credit on purchase and installation costs, capped at $100,000 per charger.
- State-level tax credits, rebates, and grants that vary widely but can cover a large portion of costs.
- Utility-specific rebates, sometimes offering thousands of dollars per charging port.
- Additional support services like fleet assessments for electrification planning.
These layered incentives make commercial EV charging infrastructure more affordable and financially attractive for businesses, workplaces, parking operators, multi-family properties, and public agencies.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/are-there-any-incentives-for-commercial-ev-charging-projects/
