• Posted: February 18, 2022
• electric vehicle chargers, electric vehicles, ev, ev charger ebook, EV Charger Installation, evse

A combination of federal and state tax breaks are aimed at incentivizing consumers to purchase more electric vehicles (EVs) and install EV charging stations. 

On a federal level, the $7,500 Plug-In Electric Drive Vehicle Credit (which the Biden administration wants to raise to $12,500) provides a credit for qualified EVs including passenger vehicles and light trucks.

Beginning July 1, 2022, two Illinois consumer incentives include: 

• A $4,000 rebate for those buying select EVs
• Up to an 80% rebate for the cost to install a charging station

If the tax breaks succeed in motivating consumers, then the need for charging infrastructure will also increase. For businesses, organizations, municipalities, or developers considering Electric Vehicle Supply Equipment (EVSE), there are numerous reasons why now is the time to act — in this article we’ll discuss four.  

1. EV charging stations put your business on the map

For EV owners, apps allow them to find charging stations in their vicinity. If you choose a charging station through a network like Volta, PlugShare, or blink, your business will appear on their charging maps. For some customers, knowing that you have EV charging stations could be enough of a reason for them to visit. Additionally, since it takes an average of 30 minutes to charge an EV, customers are likely to spend more time shopping at your business.

2. EV charging stations allow you to take advantage of rebates

As a business owner or facilities manager, you’d hate to know about missed opportunities to save money on installing EV chargers or to upgrade your facility’s infrastructure to prepare to install EVSE in the future. Therefore, it’s best to take advantage of the rebates and tax incentives that support the shift to EV usage and the expansion of needed electrical infrastructure upgrades while they last. Some funding is available right now and there’s likely more coming later in 2022. 

3. EV charging stations benefit current and future employees

As more EVs hit the road, there’s no doubt your current or future employees would benefit from EV charging stations at their workplace. Especially with the recruiting market perhaps tighter than ever, businesses need to think creatively to recruit and retain talent. 

For example, if your potential hire needs to commute more than an hour to work, then whether or not you have EV charging stations may be a deciding factor for them. Offering employees EV chargers simplifies their day and, in the near future, will be seen as a non-negotiable qualifier of employment.

4. EV charging stations have reputational benefits 

According to a recent global research report by Deloitte, consumers are passionate about the environment and want businesses to address climate change. As people become increasingly aware of industry’s environmental impact, they will continue expecting business to manage its carbon footprint. Installing EV charging stations will show your employees and consumers that your business is environmentally-friendly in terms of EVs. 

New EV Charging Station E-book Helps Business Owners

Take advantage of the business benefits EV charging stations provide. In Powering Chicago’s new e-book, The Time is Now: Considerations for EV Charging Infrastructure, electrical experts guide you through the process of EV charging installation. 

The e-book’s six comprehensive sections include: 

• Now Is The Time to Consider EV 
• A Comprehensive Approach to Installing EVSE
• The Powering Chicago Difference 
• Featured Projects by Powering Chicago Members 
• Additional Resources 
• Key Points Summary

If you’re starting to think about Electric Vehicle Supply Equipment for your facility or business, but you’re not sure how to approach this transition, then download The Time is Now: Considerations for EV Charging Infrastructure today to learn more.