As electric vehicle (EV) adoption continues to accelerate, EV charging infrastructure is becoming a critical amenity for multifamily, commercial, workplace, and fleet properties. But for many properties the cost of installing EV chargers can feel like a barrier. That’s where fund stacking comes in.
What is fund stacking?
Fund stacking is the process of combining multiple funding sources to finance a single project. This process is common across clean energy, transportation, and infrastructure projects, and can play an important role in EV charger installations.
Rather than relying on a single rebate or incentive that may only cover a portion of the project, property owners may be able to layer funding from federal programs, state initiatives, utility rebates, and local or regional grants to cut costs.
What does fund stacking look like in practice?
Fund stacking can take many forms, but it always involves capitalizing on multiple funding sources for the same project. For EV infrastructure projects, this often involves a mix of state programs, utility incentives, and/or federal rebates to offset project costs.
Not all rebate and incentive programs allow stacking, so it’s important to review each program’s requirements before applying. Some programs require their funding be applied first, while others must be applied last after remaining costs are calculated. Understanding these sequencing and eligibility rules helps ensure your project captures the maximum funding available.
Why fund stacking matters for property owners
Understanding when a project is eligible for stacked funding can make a world of difference for property owners. It can make projects that may have been previously impossible now feasible. It can accelerate timelines, improving client attraction and retention, and business operations sooner than believed. Fund stacking can turn EV charger installations from a future goal into a near-term reality.
Real-world examples of fund stacking in California
There are several EV charger rebate and incentives at the local and federal level, the key is understanding how to best utilize them for your specific project. Frequently grouped funding methods include those offered by a property’s utility provider and state level programs, when both permit stacking. California offers one of the most robust EV incentive landscapes in the country. For EV charger infrastructure, across the state, utility providers offer incentives in hopes of increasing EV adoption and promoting healthier communities that can be stacked with state programs. Some examples of stackable programs for California properties include:
Multifamily and workplace charging
CALSTART Communities in Charge allows fund stacking with specific federal and local rebates (p. 14). But it restricts stacking of other sources by the California Energy Commission (CEC), Community Choice Aggregators (CCAs), and publicly owned utility programs.
Fleet electrification projects
For schools and businesses looking to electrify their fleets, programs like the Hybrid Voucher Incentive Project (HVIP) can support vehicle procurement, which can then be layered with other funding sources to offset costs for charging infrastructure.
Air district incentive programs
The Carl Moyer Program (CMP) can help properties save thousands on EV procurement and infrastructure installation. Funding can be stacked with other local, federal, and utility-based programs provided they adhere to the Moyer program objective to achieve cost-effective and surplus emission reductions.
San Joaquin Valley Air Pollution Control District’s ChargeUp! Electric Vehicle Charger Incentive permits fund stacking with programs including The California Electric Vehicle Infrastructure Project (CALeVIP), Southern California Edison’s Charge Ready Program, and CALSTART’s Communities in Charge. Learn more about the District’s program here, or check for similar local rebate and incentive programs in your area.
Since rules vary by program and funding round, stack eligibility requires careful review of each incentive’s guidelines.
Chargie does the work, so you don’t have to
Chargie has worked with partners to stack funds and unlock meaningful savings whenever possible. As a true turnkey provider, you don’t need to worry about discovering and applying for rebates alone, we’ll help you through the entire process. To date, Chargie has secured millions in funding for our partners through rebate and incentive programs and we’re just getting started. Connect with one of our EV experts today to see what incentives your property may qualify for.
