ComEd opening applications for $87M in new electric vehicle rebates for business, public sector
A total of $87 million in rebates will be opened to the public later this week as part of a ComEd push to accelerate equitable adoption of electric vehicles by business and public sector customers.
When applications open on Feb. 15, 2024, the company will grant access to two rebate programs designed to reduce the upfront costs associated with all-electric commercial and public sector fleet vehicle purchases and incentivize business and public charging infrastructure. Awards will be doled out on a first come, first served basis.
“Working with our partners in northern Illinois, ComEd is committed to helping customers benefit from zero emissions vehicles, which can significantly reduce pollution and enhance air quality for all residents across our communities,” Erica Borggren, ComEd vice president of customer solutions, said. “Through new targeted incentives, we are aiming to accelerate the transition toward all-electric fleets, cars, buses, and trucks, while at the same time catalyzing the buildout of a regional network of public EV charging to serve more customers – a key factor to growing EV adoption equitably.”
Broken down, the rebates will bring $57 million to business and public sector EV purchases, while the remaining $30 million will go to electric infrastructure upgrades needed for the installation of publicly available Level 2 and Level 3 charging stations – both significantly faster than traditional wall outlet-based chargers. More than half of this funding is reserved for boosting EV investment in equity-eligible communities.
Of the $57 million for EV purchase rebates, each customer will be able to get anywhere between $5,000 to $180,000, although funding cannot exceed the cost of the vehicle. Some retroactive applications may be granted back to June 1, 2023, but by and large, it’s focused on new purchases of light duty, medium duty, and heavy-duty fleet vehicles, transit buses, and K-12 school buses. Meanwhile, the infrastructure rebates will grant up to $8,000 per Level 2 EV charger plug or port or up to $1,000 per kW for infrastructure serving Level 3 chargers with a minimum of 50 kW. Like the EV purchase rebates, some retroactive applications may be allowed.
Small and large businesses, local government, school districts and transit authorities are all welcome to apply. These rebates also come in the wake of another recent release geared toward residential customers: the EV Charger and Installation Rebate Program.
