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March 21, 2024

How to Fund EV Charger Installations

Installing electric vehicle (EV) charging stations can be a significant investment for a property, but there are various ways to fund these projects, making the infrastructure more accessible to both individuals and businesses. Here are several approaches:

Government Grants

Many governments offer grant funding to encourage the adoption of electric vehicles and the installation of charging infrastructure. These funds can cover a significant portion of the project cost and may include equipment, installation, and ongoing management and maintenance. Government grants may be available at the federal, state, or local levels. Some examples include the California Energy Commission’s Reliable, Equitable, and Accessible Charging for Multi-family Housing 2.0 (REACH 2.0) opportunity and the Washington State Department of Commerce’s Electric Vehicle Charging Program.

Things to consider:

  • Eligibility of your property/project
  • Time and resources required to apply (pro-tip: Chargie can assist)
  • Ongoing reporting requirements

Utility Programs

Some utility companies provide incentives or rebates for EV charger installations. Depending on the program, costs covered may include equipment, installation, and ongoing management and maintenance. Some examples include Southern California Edison’s Charge Ready program, Los Angeles Department of Water & Power’s Commercial EV Charging Station Rebate Program, and Salt River Project’s Business EV Charging rebate.

Things to consider:

  • Eligibility of your property/project
  • Most programs allocate funding on a first come first served basis so apply sooner rather than later
  • Time and resources required to apply (pro-tip: Chargie can often apply on your behalf)

Property Funded

Some properties may opt to fund EV charger installations out of pocket if there are no grants or rebates available in their area, or if driver demand is so high that charging stations are needed as quickly as possible. If overall cost is a barrier, we recommend properties pay out of pocket for a few charging stations now to help meet demand, and keep an eye out for available grants and rebates to fund additional installations in the future.

Thing to consider:

  • Project costs will vary based on the available infrastructure, proximity to power source, required trenching, load sharing ratios, station grouping, ADA modifications, union or prevailing wages, and more (pro-tip: Chargie can help you navigate these complexities and provide a detailed quote)

Chargie's Turnkey Solution

At Chargie, we specialize in finding the best programs to plug into to provide our clients with EV charging stations at little to no out-of-pocket costs. We handle everything from applying to the programs and submitting the required paperwork to installing the charging stations and providing ongoing maintenance and support. With Chargie, property owners get a truly turnkey partner, and drivers get simple, intuitive charging. Reach out to learn how much your property could save.