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Who pays for public electric car charging stations?
I’m seeing more and more public electric car charging stations pop up. I assume it’s expensive to house these stations, but I’m not sure how it works. Who pays for these things?
Chanice Boyd · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Great question! In most cases, the property owner pays for the electric car charging station. By exploring utility rebates, tax credits and incentives, or other creative options, they can offset some of the costs.
It’s an expensive project, but thankfully, a few options are available. There are federal incentive programs to help cover infrastructure costs or the cost of the charging station itself. Utility rebates covering up to 100% of the costs are sometimes available.
Here’s how it works:
- Utility Rebates: Some utility companies offer rebate programs of up to 100% for their commercial customers who install charging stations on their properties. The owners benefit because the EV charging stations can attract more customers and create a new revenue stream through charging fees.
- Tax Credits and Other Incentives: Due to environmental initiatives, several state and local tax credits and grants are available to help reduce the costs of building a station.
- Community: If the owners don’t qualify for the rebates or incentives, they can explore more creative options. They could enter into an arrangement with a neighboring business willing to partner and share the costs of installing an electric car charging station.
After this, it’s common to offer drivers EV charging for free, or they can charge the vehicle owner using a nationwide charging network like Chargepoint or EVgo.
But there are a couple more costs to consider when owning an electric vehicle such as questions about your
car insurance
coverage. Jerry’s
friendly agents are here to answer your questions and provide advice on the best coverage options. As your life changes, your insurance changes, and Jerry is ready to make those adjustments for you. View full answer
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