Want to Install EVSE in NYC, But Have Sticker Shock? Special Programs Offer Significant Savings

Transportation is responsible for 36% of greenhouse gas emissions in NYC. New York City takes sustainability seriously, and the country’s most populated city is taking steps to reduce air pollution by making it easier and less expensive for businesses, apartment building owners, and parking lot/garage owners to purchase and install EVSE. They may be unaware of programs and state tax credits that create a sliding scale for the cost EVSE, a scale that can sometimes even slide to zero.

Many business and garage owners would like to install electric vehicle chargers. Businesses that offer electric vehicle charging attract top quality customers and employees who are trend and technology savvy. Apartment buildings and condos which feature environmental design, LEED points (which can be gained by installing EVSE), and charging stations are more attractive to wealthier residents. While many parking operators know installing charging stations is a great idea, they may fear they’re unable to pay for them.

There are many programs that parking operators can take use to make purchasing and installing EVSE easier than ever.

EV Charging Tax Credit

New York is doing more every day to make it easier for businesses to purchase and install EVSE, starting with the Alternative Fuels and Electric Vehicle Recharging Property Credit. This incentive is a New York state tax credit for businesses installing EVSE that located in the state, used 50% or more during the tax year, constitutes an alternative fuels vehicle refueling property, and did not receive grants awarded before 2015.

The credit is for EVSE and installation costs equal to or less than $5,000 “or 50% of the cost of property less any cost paid from the proceeds of grants.” These tax credits can sometimes be combined with other programs, slicing the total cost of an EVSE installation project.

Charge Ready NY

New York also features programs specifically designed to discount the cost of charger infrastructure. One of the funding opportunities available in New York is NYSERDA’s Charge Ready NY. Charge Ready NY offers public and private organizations that install Level Two charging stations at public parking spaces, and at location such as workplaces, apartment buildings and condos, a $4,000 rebate PER charging port they install, representing a 30-80% savings. Most chargers include at least two ports. An additional incentive of $500 per port may be awarded for eligible Level 2 charging equipment installed after December 10, 2020 within disadvantaged communities.

NYSERDA has committed $17 million to the program, and is taking applications right now. Best of all, Charge Ready NY can be combined with NY state tax credits for EVSE installation.

New York Make Ready

Another program bringing savings to EV charger installation is New York’s Make-Ready Program, which has approved $700 million for statewide EVSE infrastructure. According to ConEd, the goal of the Make-Ready Program is to support the development and deployment of EVSE within the state of New York by offering organizations installing EV chargers incentives that off-set part, or ALL, of the cost of the chargers. Non-public location sites with non-standard plugs can receive a 50% reduction in cost, while public location sites with standard plugs receive a 90% reduction in cost! Is your location in a disadvantaged community? Make that 100%.

NYSERDA DC Fast Charging

Another phase of the plan features deployment of DCFC infrastructure intended to provide charging for New York residents as well as those traveling through, or doing business, in the state. This program “reduces the cost of purchasing and installing DCFC EVSE for use in New York State” and ultimately accelerates EV adoption. DC fast chargers are most often installed in large population centers, around cross stops, and easy freeway stops. Round 2 applications will be accepted through July 15, 2021.

And if your business isn’t just looking for chargers, but to replace your fleet with EVs, take note, the Drive Clean Rebate applies to trucks and the New York Truck Voucher Incentive Program,  covers up to a whopping 80% of the difference between a gas-fueled trucks and electric trucks.

New York wants to cut 40% of GHS emissions by 2030 and 85% by 2050. If you’re a parking operator or business own in New York, taking advantage of special programs and discounts is an easy choice. These programs are designed to help your business grow, benefit the city, and reduce air pollution all at the same time.

Want to learn more about commercial incentives? Click here to view our tracker.