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Empowering Public Parking Businesses: Navigating EV Charging Incentives

Last Updated: February 29th, 2024 | Public Charging

The transportation landscape is rapidly shifting towards electric vehicles (EVs). More than 1 million EVs were sold in the United States in 2023 alone, and they all need somewhere to charge. This shift has created a real opportunity for businesses with publicly available parking lots and garages. Commercial EV charging station installation aligns with sustainability goals and offers a strategic way for businesses to differentiate themselves in often over-saturated markets. Initial costs to start offering EV charging services can be daunting. Fortunately, there are financial incentive programs to encourage businesses with public parking areas to make the leap into providing EV charging services. These programs include everything from federal EV charger rebates to utility and tax credits for EV charger installation.  

Fueling the Future of Mobility 

The surge in EV adoption is fueled by millions of new drivers across the country switching to electric vehicles. Governments and utilities are offering billions in incentives to try to build out the US and Canadian publicly available charging networks, offering incentives tailored to a wide range of businesses.

  • Public Parking Facilities:

Incentives are available for public parking businesses to get up and running with EV charging services, catering to the growing demand from EV drivers seeking convenient charging options.

  • Multifamily and Residential Charging Solutions: 

Incentives support the expansion of access to EV charging at homes beyond single-family housing. They cater to the needs of EV owners in apartment complexes and communities. Many incentives have extra benefits for multifamily properties looking to reduce the costs of commercial EV charging station installation.

  • Workplace Charging: 

Incentives encourage businesses to offer charging solutions for employees, supporting the transition to a green economy. 

  • Fleet Operators:

Incentives are available for fleet operators transitioning to electric vehicles, promoting sustainable transportation adoption. 

Public EV Charger Installation and EV Charging Services

Installing the hardware is just the first step. Once chargers are in the ground, businesses still need to offer EV charging services efficiently and effectively. This is where choosing the right EV charging service software becomes crucial. The software serves as the backbone of EV charging operations, facilitating seamless user experiences, efficient management of charging stations, and robust data tracking for insights into usage patterns and revenue generation. With the right EV charging service software, businesses can streamline payment processes, ensure reliable service delivery, and provide users with a hassle-free charging experience, maximizing the benefits of their EV charging infrastructure investment.

Understanding the Incentive Providers 

  • Federal Government: 

Offers federal EV charger rebate programs and tax credits for EV charger installation, providing substantial benefits for businesses investing in EV charging. 

  • State Governments: 

Implement state-specific grant and rebate programs to promote EV charging infrastructure development. Taking advantage of these means having a parking lot in that specific state and sometimes in a particular part of that state. 

  • Local Municipalities: 

Often offer grants and rebates to foster the adoption of EV charging solutions, contributing to local sustainability initiatives. Check the boundaries for any project to make sure your business is eligible.  

  • Utility Providers:

Some utility companies offer dedicated programs such as discounted electricity rates for businesses with EV charging stations or rebates on the costs of installation and operation for commercial EV charging stations. This can significantly reduce the operating costs of the stations, making them more profitable in the long run.

Extra Savings and The Fine Print 

  • Stacking Incentives: 

Certain programs allow for the combination of different incentives, maximizing cost reduction for businesses. This could mean applying to one program to cover make ready costs and to another to cover the purchase of the charger. 

  • Eligibility and Application: 

It’s essential to carefully review the eligibility criteria and application processes for each program to ensure seamless participation. 

  • Expert Guidance: 

While this may all seem like a lot, seeking advice from professionals with expertise in EV charging infrastructure and incentive programs can provide you with tailored assistance. Noodoe’s EV charging experts are specialists in the world of incentive programs and can help you find a program that suits your business and your needs. 

Navigating the Incentive Landscape 

There’s always more to learn about the evolving landscape of EV charging incentive programs and policies. Working with an expert is the best way to keep abreast of changes so you can take advantage of programs available in your area. Noodoe can provide comprehensive guidance and support so you don’t have to waste any time trying to keep up.

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