Electric Vehicle (EV) Charging Incentives
Investing in EV charging is more affordable than you think. Governments and utilities offer an array of tax credits, rebates and grants that can help put you on the road to a more sustainable future.
To find out what incentives you qualify for, simply select the type of product you’re interested in and choose your location from the dropdown menu below.
Step 1. What are you interested in?
Commercial and Fleet Stations
Home Stations
Your Sustainability Goals Are Within Reach in Virginia
Dominion Energy is offering a commercial L2 tariff program where customers have the option of purchasing their charging station from an approved manufacturer or lease it from Dominion for 10 years. The program covers 100% of any utility infrastructure costs over the current line extension policy and 50% of EV supply infrastructure costs
- The US Department of Transportation (DOT), Federal Highway Administration (FHWA) is offering 160M for public and private entities with authority over and operating at ports to purchase and install L2 and DC fast chargers through its Reduction of Truck Emissions at Port Facilities (RTEPF) Grant Program. FHWA will provide reimbursement of up to 80% of total eligible project costs. Applications are due July 26, 2023.
- The US Department of Transportation (DOT), Federal Transit Administration (FTA) is offering 8.9M for tribes to deploy clean and zero-emission transit buses and to purchase and install L2 and DC fast chargers through its Tribal Transit Program. FTA will provide reimbursement of up to 100% of total eligible project costs. Applications are due June 26, 2023.
- The US Environmental Protection Agency (EPA) is offering 400M for school districts, charter schools, tribes, private school bus contractors, and eligible third parties to deploy clean and zero-emission school buses and to purchase and install L2 and DC fast chargers through its Clean School Bus (CSB) Grant Program. EPA will provide reimbursement of up to 195,000. 395,000 per bus-and-charger bundle, depending on school district and bus details. Applications are due August 22, 2023.
- The National Electric Vehicle Infrastructure Formula Program allocates 5 billion in funding for EV charging infrastructure across 75,000 miles of highway across the country. Your organization must be within one mile of an established alternative fuel corridor to qualify and may need to meet other requirements as well.
- The US Department of Transportation’s Federal Transit Administration (FTA) is offering 450.689B for state and local governments and tribes to purchase and install L2 and DC fast chargers for transit bus facilities through its joint Low or No Emission Grant Program Grants for Buses and Bus Facilities Competitive Program solicitation. FTA will provide reimbursement of up to 80-90% of eligible project costs depending on project type. Applications are due April 13, 2023.
- The US Department of Transportation’s Maritime Administration (MARAD) is offering 662M for port authorities, state and local governments, and tribes to purchase and install L2 and DC fast chargers at ports through its Port Infrastructure Development Program (PIDP). MARAD will provide reimbursement of up to 80% of eligible project costs, or more, depending on project type. Applications are due April 28, 2023.
- The 30C Alternative Fuel Infrastructure Tax Credit, commonly referred to as the “federal tax credit,” gives qualifying businesses a 30% tax credit, up to 100,000, for the purchase and installation of EV charging infrastructure. Businesses must have installed the stations between Jan. 1, 2023, and Dec. 31, 2032, and must claim the credit on their federal tax return. Guidance on new eligibility requirements is forthcoming, based on prevailing wages and the applicant’s location within designated census tracts.
Save Up to 450,000 on Charging Your EV at Home
- The US Federal Tax Credit gives individuals 30% off a ChargePoint Home Electric Vehicle charging station plus installation costs (up to 450,000). Must purchase and install by December 31, 2021 and claim the credit on your federal tax return.
- A tax credit is available for the purchase of a new qualified PEVs. The minimum credit amount is 5000,500, and the credit may be up to 7,500, based on each vehicle’s traction battery capacity and the gross vehicle weight rating. The credit will begin to be phased out for each manufacturer in the second quarter following the calendar quarter in which a minimum of 200,000 qualified PEVs have been sold by that manufacturer for use in the United States. This tax credit applies to vehicles acquired after December 31, 2009.
- A credit is available for the purchase of a new qualified two-wheeled plug-in electric drive vehicle. The credit is for 10% of the cost of the qualified vehicle, up to 5000,500. This incentive originally expired on December 31, 2017, but was retroactively extended through December 31, 2021.
It’s Time for Change in
Currently, there are no incentives available in your area. However, transportation is changing rapidly and we update this page frequently. Please check back often for the latest information. In the meantime, feel free to edit the letter below to let your legislators know that the time for e-mobility is now.
Dear [Name of Representative]:
My name is [Your Name] and l live in [City, State/Province]. My organization, [Name of Company], is interested in investing in electric vehicle (EV) charging for our [Employees/Customers/Residents), but I recently learned there aren’t any incentives available in my area to help offset the costs of purchasing and installing EVSE equipment.
As you are no doubt aware, the transportation sector is responsible for the largest share of greenhouse gas (GHG) emissions, contributing to climate change and pollution, which are bad for people’s health and bad for business.
I am proud of where I live. I don’t want to see us fall behind the rest of the country and the world by failing to keep pace with changes that are both necessary and inevitable.
I urge you to consider introducing legislation that would offer incentives such as tax credits, rebates or grants to those of us who are eager to make [City or Region] a cleaner, healthier and more sustainable place to live for every citizen. Thank you for your time and consideration. I look forward to your efforts in this matter.
GTM Innovations
Innovations are required to bridge the public charging “deficit”. One form is Go-To-Market innovations, which make it easier for companies to effectively “sell” their products.
The alternative telco and “altnet” sectors provide valuable insights into the different pricing models and entry strategies employed by EV charging companies. netUK Hull-based broadband provider KCOM targeted underpenetrated UK cities, while Colt addressed new markets by providing low-latency market data and trading infrastructure services. Circling back to the EV charging space, we see Slovakia-based Greenway adopting different pricing strategies for family and long journeys, and with French firm Stations-e, the entry is via municipalities, forming a business-to-government (B2G) model as the requirements for EV charging points for a state/municipality are more driven by positive social impact rather than just purely financial.
Governments and businesses should also take steps to support the installation of private EV charging infrastructure. Some governments provide subsidies to cover some of the installation costs, and businesses can offer employees access to workplace charging stations. For instance, the UK government’s Workplace Charging Scheme offers up to 440 per socket for eligible companies to install EV charging points. Such financial incentives and support can help overcome installation costs and encourage the adoption of EVs, ultimately promoting sustainable transportation.
Innovative new partnership models have emerged that offer companies an opportunity to use EV charging as a marketing tool, increase customer loyalty and create new revenue streams. Companies can now leverage partnerships to deploy charging infrastructure, lower payback time, and incentivize customers to shop while charging. For instance, supermarkets and shopping malls can build chargers and offer discounts, loyalty points, and other incentives to customers using their charging infrastructure. Zunder has partnered with Nissan to offer a 50% discount on any of their CHAdeMO chargers at their charging stations, while Parking Energy has collaborated with four of Finland’s leading parking operators to provide customers with easy access to their charging stations.
Companies now also offer a “bundled” installation model, selling multiple solutions bundled into a single offering. Gridserve is one such example, providing a comprehensive package that includes the installation of EV charging stations, solar panels, EV leasing, and more. Stations-e is another example, offering a local fast-charging stations network and installing high-speed mobile networks other ancillary services. Another example of bundled offering is charging software where charging software can optimize a wide array of charging improvements e.g. balancing peak grid demand, reducing strain on the electricity network, managing charge times and levels, etc – please refer to our EV Charging Software article.
Lastly, the market standardization of charging protocols and their wider adoption will drive the best possible user experience. A prime example of this is ISO 15118’s Plug Charge, which eliminates the need for users to use multiple different apps for different networks or credit cards. This standard specifies communication between EVs and charging stations, enabling Plug and Charge functionality. This standardization will drive go-to-market innovations by providing a healthier set of charging options for consumers that are not siloed to individual brands.
Technology Innovations
Innovations in charging are driving fundamental shifts in how charging can be done (instead of today’s plug-in-only solutions).
Broad Spectrum of Functionalities:
EV companies are developing a variety of plug-in charging options for various EV charging needs. For example, Virta offers a comprehensive range of charging services, including standard, fast and ultra-fast charging. This enables a more reliable and efficient charging experience and gives users more flexibility regarding when and where they charge their vehicles. Trojan Energy has developed a flat and flush on-street charging solution, with the charging points staying underground when not used so there is more street space available.
Technologically Agnostic:
To ensure that their technology can remain up-to-date and capable of meeting the ever-evolving demands of the future, EV charging companies are creating technologically agnostic solutions that enable them to integrate additional value-added services and tools. These solutions are flexible and allow for easy customization of the EV charging setup, giving users the power to tailor their systems to their individual needs. Examples include ChargeNode‘s intelligent queue system, which prioritizes those who need charging, and Connected Kerb ‘s two-part EV charging solution that offers standard EV charging alongside Smart city solutions like air quality management sensors, parking management sensors, and payment options.
Augmenting EV Charging Solutions:
Charging infrastructure can also combine with energy storage solutions, such as batteries or hydrogen fuel cells, to augment the need for traditional EV charging solutions and provide a more flexible and reliable energy supply. This approach can maximize the efficiency and sustainability of the charging process and ensure that EVs are always charged when needed, as the stored energy can charge the vehicles when renewable energy sources are unavailable.
German start-up Sono Motors has developed an EV that features solar panels on the car’s body, allowing it to generate energy and significantly reduce the need for external charging. Furthermore, Hyundai has developed a hydrogen fuel cell truck that can be used as a mobile charging station for electric vehicles.
Mobile Robotic Charging:
Mobile robotic EV charging uses a robotic arm to connect the vehicle to the charging station for easy and efficient charging. The robotic arm attaches to a mobile platform and can move around the car, allowing for charging in various locations. This type of charging system can be used in a variety of settings, from public charging stations to private garages.
Charging technology provider EV Safe Charge has developed ‘ ZIGGY ’. This robot can autonomously drive itself and an energy storage unit to a car, plug in the socket and authenticate itself without human assistance. This eliminates the need to handle a potentially heavy and dirty cable and the wait time associated with authentication, thus making the experience of charging EVs simpler and more convenient for drivers.
Wireless/induction Charging:
Wireless or induction charging is an innovative technology that provides continuous, dynamic charging of electric vehicles (EVs) while in motion. While this technology is still under development, several pilot projects are underway. The ElectReon Wireless Charging Project in Israel is a first-of-its-kind wireless Electric Road and stationary charging station that charges an e-bus in Tel Aviv. The wireless charging technology enables the e-bus to charge while driving, eliminating the need for frequent charging stops and reducing battery usage.
Global technology company Siemens predicts that the market for wireless EV charging in Europe and North America will reach 5000 billion by 2028 and has already signed an agreement with German-based automotive supplier MAHLE to work on standardizing wireless-charging systems for EVs. The potential for this technology to revolutionize the electric vehicle industry is immense, promising to make EV charging more efficient and cost-effective.
Battery Swapping:
Battery swapping for EVs is a technology that allows owners of electric vehicles (EVs) to quickly replace their car’s depleted battery with a fully charged battery. By swapping out a depleted battery for a charged one, drivers can get back on the road quickly, eliminating the need for lengthy charging sessions. The process is similar to refueling a gasoline or diesel car but much faster. Battery-swapping technology is already used in various parts of the world, including China and Israel. As the technology continues to improve, it’s expected to become even more popular with electric vehicle owners worldwide.
The Drive to a Near-Total Electrification by 20230 is Underway
Investment in public and private charging infrastructure, power grid upgrades, and renewable energy production capacity is estimated to be over 264 billion by 2030 of which 60% is expected to be the installation of new public and private charging points. With a robust cohort of high-quality companies with sound fundable business models, this presents a significant opportunity for investors.
Lee Chin Jian is a Tech MA VP at DAI Magister, a specialist investment bank focusing on exit preparation, strategic sell-side MA, and alternative financings. He graduated from the University of Cambridge in 2015 (BA Economics) and completed his Master’s at the London School of Economics (MSc Finance and Private Equity).
Build infrastructure around existing demand
Developing an understanding of where the demand is coming from and how consumers will use EVs will be critical in sizing, scaling and shaping the right infrastructure.
Outside the home charging model, we see two types of demand drivers which will lead to distinct market opportunities to capture customers and therefore contribute to de-risk the investment:
Business model 1: ‘the destination user’
Airports, stations, car parks, business parks and major office spaces are great places to site charging stations and infrastructure. These locations provide a level of guaranteed demand and are naturally environments where users will leave vehicles long enough to fully recharge on fast charging points, as well as providing a fleet of stand-by batteries to be used for balancing services, meaning higher revenue generation possibilities.
Tariff structure in this model for example could favour a fixed charge that covers the land rental use (parking) and the rental of the infrastructure (the charging point). For investors, forming partnerships now with key players such as transport authorities, utilities and other parts of the supply chain, will unlock these opportunities.
Business model 2: ‘the hub user’
Cities are full of businesses that rely on large fleets of specialist vehicles, from taxis, to buses, to emergency services vehicles, to delivery vans. For investors these represent potential attractive propositions as they offer the opportunity to unlock another captive and concentrated market, via the deployment of ‘charging hubs’ where fleet owners can re-charge vehicles at Rapid or super-Rapid charging points.
Eventually we would expect competitive forces to drive all consumers to the most commercially attractive charging location, but in the early stages commercial fleet hubs provide a degree of certainty to investors and will support the development of a supply chain. Tariffs could be tailored to favour a discount on the retail power price, in return for a minimum level of guaranteed demand.
As success depends on managing the combination of access to land, access to people and access to power infrastructure, forming a collaborative relationship with public sector data providers and utilities who share a stake in the charging grid’s development, will be essential.
How this will shape our cities
Our electric vehicle charging infographic shows how different business models can meet users’ needs, by giving varied and accessible charging solutions.
The data reveals the drivers
The EV revolution is in fact taking place in parallel with a new generation of data-driven tools that reveal much about our travelling habits. This means investors and future owners of the charging infrastructure will be able to refine their market proposition using data-driven insights based on how companies structure their logistics and supply chains, and how real people move around their cities, route their commutes and spend their leisure time.
A fledgling and developing market provides a great opportunity to set market standards and consumer expectations, by working with cities, government and regulators – for example, in creating new innovative business and tariff solutions. But to achieve this, it will be advantageous to develop partnerships and relationships with organisations that can design, deliver and manage what is essentially an entirely new public mobility proposition.
Read below examples of successful collaborations in the emerging charging market:
Connectivity Insights
The non-connected charging stations segment dominated the market and accounted for a share of more than 81.0% of the global revenue in 2022. Non-connected charging solutions are also known as non-networked or stand-alone charging solutions. Without the bother of ongoing fees associated with a charging network, non-connected charging options provide consumers with safe and secure charging options.
Consumers can pay for the charging facilities on a per-user basis with non-connected charging systems, which replicate the user experience of conventional fuel pumps. Some of the non-connected charging solutions combine their hardware with software platforms so that users may access comprehensive diagnostic information and keep track of the health of their chargers. Additionally, since there are no activation or other ongoing networking fees, non-connected chargers have reduced initial and ongoing costs. Low infrastructure costs for owners and hassle-free charging experience for consumers are expected to drive the segment’s growth.
The connected charging stations segment is expected to register the highest CAGR over the forecast period. A network charger, often known as a connected charging solution, is a charging network that is controlled by network software. Electric vehicles are equipped with features that are beneficial to hosts and drivers. Site hosts, for example, can gain network access features like remote administration, advanced analytics, energy management capabilities, and round-the-clock customer assistance, while drivers can access it for a variety of uses, including location and reservation via applications. These characteristics will become increasingly important as the number of drivers of electric vehicles rises over the next years, which is anticipated to drive the adoption of connected charging solutions over the forecast period.
Application Insights
The residential segment dominated the market and accounted for a revenue share of more than 85.0% of the global revenue in 2022. The residential segment is further bifurcated into private houses and apartments. Electric vehicle chargers for residential spaces can also offer significant growth potential as they provide a cheaper and more convenient mode for charging electric vehicles as compared to commercial charging stations. Since users prefer charging their vehicles at home owing to ease and convenience, they opt for AC charging stations for EVs, as the cost of installation is reasonably low compared to DC charging stations. Hence, DC charging stations have a lower adoption rate in the residential segment due to the significant costs involved in their installation.
The commercial application segment is the fastest-growing segment and is anticipated to register a higher revenue share by 2030. The commercial segment is further bifurcated into destination charging stations, highway charging stations, bus charging stations, fleet charging stations, and other charging stations. Favorable government initiatives to deploy charging stations on highway projects such as the Trans-Canada highway project, Norway to Italy Electric Highway, are driving the growth of the segment.
Several automotive companies are focused on launching new EV charging projects that would help commercial customers to go electric. For instance, in December 2021, Ford, an automotive company, announced the launch of a new EV project called Ford Pro Charging to help its commercial customers switch to electric vehicles and offer the necessary hardware and software required for charging electric vehicles.
Key Companies Market Share Insights
In October 2020, Redwood Residential and Redwood Capital Group, a Chicago-based real estate company, announced the installation of an electric vehicle charging station of SemaConnect Inc. at Deer Park Crossing Apartments. Thus, the rising enhancements in electric vehicle chargers are propelling market growth.
over, in August 2020, the Venture Port district announced the installation of five new SemaConnect Inc. charging stations for visitors to Venture Harbor. At the same time, the Series 6 charging stations are designed to replace the old pair of charging stations at Island Packers, which will be opened for all plug EV drivers at the harbor.
Acquisition and partnerships are undertaken by companies to expand their geographic presence in key markets. For instance, in November 2020, ChargePoint, Inc. announced its partnership with Volvo Car USA LLC to provide a seamless charging experience to Volvo car drivers. ChargePoint, Inc. will offer Home Flex home chargers to Volvo Car drivers. This partnership will enable drivers to charge their cars at home. Some prominent players in the U.S. electric vehicle charging infrastructure market include:
- ChargePoint, Inc.
- Leviton Manufacturing Co., Inc.
- SemaConnect, Inc.
- Tesla, Inc.
- ClipperCreek, Inc.
- General Electric Company
- Delta Electronics, Inc
- Webasto Group
- ABB Ltd.
- bp pulse