ComEd launching $87 million in new rebates to
incentivize expansion of electric vehicle charging, bring greater
access to zero-emissions vehicles throughout region
As part of a larger investment to accelerate an equitable
adoption of electric vehicles (EVs) in northern Illinois, ComEd is
launching two new business and public sector EV rebate programs.
New programs will provide a total of $87 million this year to help
reduce upfront costs of all-electric commercial and public sector
fleet vehicle purchases and incentivize the buildout of more
business and public charging across the region.
ComEd today joined a diverse mix of environmental, community,
industry, and municipal stakeholders in announcing its newest EV
rebates from the annual Chicago Auto Show, held at McCormick Place.
The two new EV rebate programs will begin accepting applications on
February 15, 2024, with funds awarded on a first come, first served
basis. New EV rebates for businesses and public sector customers
follows the recent launch of the EV Charger and Installation
Rebate Program for residential customers, for which customer
can apply for by visiting ComEd.com/Clean.
“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,” said Erica
Borggren, ComEd Vice President of Customer Solutions. “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.”
New programs launching in 2024 include a total of $87 million
for business and public sector EV initiatives. This year, $57
million in rebates will be available for business and public sector
EV purchases, and $30 million in rebates are available to support
electrical infrastructure “make ready” upgrades needed for the
installation of publicly available Level 2 and Level 3 charging
stations. Level 2 chargers can charge an EV battery 6 to 8 times
faster than charging from a wall outlet, often referred to as a
Level 1 charger. Level 3 chargers, often referred to as Direct
Current Fast Charging (DCFC), can charge a typical EV battery in
less than one hour.
More than half of all rebate funding is reserved to help boost
EV investment in equity-eligible communities, and with higher
levels of rebates reserved for customers located in, driving, or
doing business in low-income and equity-eligible communities.
“Under Governor Pritzker’s leadership, the state of Illinois is
leading an EV revolution, delivering incentives and enabling
significant expansion of our EV charging network so more residents
can take advantage of environmental and air quality benefits of
zero emissions vehicles,” said Megha Lakhchaura, EV Officer for
the state of Illinois. “ComEd’s new EV programs complement
state and federal incentives designed to boost EV adoption and
charging buildout on a larger scale. This means more school
districts, transit agencies, local governments and small and large
businesses and their surrounding communities can access the
benefits of EVs.”
Specifically, funding amounts and eligibility for the two new
ComEd rebate programs for business and public sector customers to
support large-scale EV adoption are as follows:
- A total of $57M is available in 2024 for
EV Purchase Rebates Rebates between $5,000-$180,000 each,
with funding not to exceed the cost of the vehicle. This includes
funding for light duty, medium duty, and heavy-duty fleet vehicles,
transit buses, and K-12 school buses. The rebate can also be
applied retroactively in some cases; ComEd will accept applications
for vehicles purchased as far back as June 1, 2023.
- A total of $30M is available in 2024 for
Make-Ready Electrical Infrastructure Rebates Rebates of up
to $8,000 per Level 2 EV charger plug or port (with a 10-port
maximum) or up to $1,000 per kW for infrastructure serving Level 3
chargers with a minimum of 50kW (maximum rebate of $500,000).
Rebates can cover project make-ready costs including, but not
limited to, contractor labor, conduits, cable, fasteners and
breakers. Rebates will not cover the cost of the physical charger.
This rebate can also be applied retroactively in some cases; ComEd
will accept applications for qualifying projects completed as far
back as June 1, 2023.
New investments to accelerate EV adoption in the region
complement statewide plans to boost EV adoption in Illinois – a key
focus as part of the state’s Climate and Equitable Jobs Act (CEJA),
which sets a goal of putting 1 million EVs on state roads by 2030.
EV ownership has increased in recent years, with 80,000 vehicles
driving in northern Illinois today, up from just 17,000 in 2019.
ComEd programs build on state and federal programs designed to
reduce upfront costs to vehicle purchase, and to reduce range
anxiety through the expansion of a network of charging serving more
communities.
The new rebate programs announced today are geared toward
business and public sector customers, including:
- Those who are considering electrifying their fleet to improve
their environmental footprint while reducing their fuel and
operating costs.
- Those who are looking to offer charging access to their
customers and communities.
The programs will accept applications from a broad range of
business and public sector customers, including small and large
businesses, local government, school districts, and transit
authorities.
“ComEd’s investments to expand EV adoption will support our
regional efforts to address climate change and enhance air quality
by reducing tailpipe emissions,” said Kevin Burns, Metropolitan
Mayors Caucus Chairman of the Executive Board, Environmental
Committee and Energy Subcommittee. “New rebate programs from
ComEd will complement the work our local governments are doing to
develop infrastructure, policy and to lay the framework for an
equitable EV future here in northern Illinois.”
“With dangerous air pollution still a regional challenge and
with the burdens of asthma weighing more heavily on lower income
communities, this new EV program will help reduce air pollution
from the largest source in northern Illinois and make owning a
clean, zero-emission vehicle more affordable precisely where they
can provide the greatest health benefits,” said Brian
Urbaszewski, Director of Environmental Health Programs at
Respiratory Health Association.
EVs provide numerous benefits for customers. Not only do they
offer fuel and maintenance cost savings and performance benefits,
but communities can experience broad environmental improvements
from reduced tailpipe emissions. Additionally, electrifying
transportation—including cars, trucks, school buses and public
transit fleets—can create tangible health benefits for all
communities and families across northern Illinois, especially
communities which have traditionally borne the brunt of climate
change and air pollution.
“The Environmental Law & Policy Center is especially
encouraged that school districts can get ComEd assistance with
electric school buses and charging equipment,” said Susan Mudd,
Senior Policy Advocate at the Environmental Law & Policy
Center. “This is an equity issue as more low-income families
rely upon bus transportation to safely get their children to and
from school than higher-income families. We know that electric
school buses provide a zero-emission ride to and from school, which
means children are not exposed to asthma-inducing fumes. The
quieter electric buses also mean students arrive at school calmer
and more ready to learn.”
"ComEd’s ongoing commitment to advancing electrification is
vital for reducing carbon emissions, improving health, and creating
financial benefits for all communities in Illinois,” said Nate
Baguio, Senior Vice President of Commercial Development at Lion
Electric. “As a regional partner of ComEd’s, we recognize the
importance of clean energy transportation programs, which are
further amplified by state and federal investments such as the
Reimagining Energy and Vehicles in Illinois Act (REV), Climate and
Equitable Jobs Act (CEJA) and EPA Clean School Bus Program.”
“The launch of ComEd’s new EV rebates will make a big difference
in helping low-income and environmental justice communities play a
direct role in reducing greenhouse gas emissions,” said Billy
Davis, Co-Founder, General Manager, Jitney EV, LLC. “By
reserving half of all funding for equity eligible communities,
ComEd is enabling a more just and equitable transition toward EVs
and will incentivize more sustainable investment and cleaner air
for the communities that need it most.”
ComEd’s new rebates take into consideration the large upfront
costs associated with commercial grade electric vehicle purchase.
ComEd also intends to work with local auto dealers to establish a
process in 2024 that seeks to enable pre-approved rebate vouchers
that can be applied at the point of purchase.
"ComEd's new EV rebate programs mark a significant step in
advancing sustainable transportation. Through providing substantial
rebates for residential, commercial and public sector charging, and
fleet electrification with a focus on addressing financial barriers
and communities in northern Illinois most impacted by pollution,
ComEd demonstrates its dedication to enhancing accessibility to
electric vehicles and beneficial electrification,” said Samantha
Bingham, Coordinator of the Illinois Alliance for Clean
Transportation. “The Illinois Alliance for Clean Transportation
applauds ComEd's rebate initiative and its broader efforts in
advancing energy sustainability in the U.S. by facilitating clean
fuel adoption and accessible charging infrastructure."
New investments to support EV adoption at scale builds on
existing ComEd programs to assist customers with electric fleet and
charging infrastructure planning. This includes customized fleet
assessments, as well as the recent launch of a new ComEd Fleet
Toolkit at www.comed.com/EVbiz. The Fleet Toolkit can be used to
develop a comprehensive estimate of the cost of converting a fleet,
and to determine the optimum rate plan, charging times, and
charging equipment for a fleet electrification project of any size.
The Toolkit also contains a “EV Load Capacity Map” to help
customers plan where to install charging infrastructure, based on
estimated available load capacity.
To learn more about how ComEd is helping customers plan their
journey to an EV, visit www.comed.com/ev. For more information on
eligibility and to apply for new EV rebates on or after February
15th, visit www.comed.com/clean.
ComEd is a unit of Chicago-based Exelon
Corporation (NASDAQ: EXC), a Fortune 250 energy company with
approximately 10 million electricity and natural gas customers –
the largest number of customers in the U.S. ComEd powers the
lives of more than 4 million customers across northern Illinois,
or 70 percent of the state's population. For more information
visit ComEd.com, and connect with the company on
Facebook, Instagram, LinkedIn,
X, and YouTube.
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