Rebates worth up to $3,750 each for Level 2 charger purchase and installation; 50 percent of rebate funds reserved for equity-eligible communities to support equitable access to EVs

As part of a larger investment to accelerate an equitable adoption of electric vehicles (EVs) in northern Illinois, ComEd today launched a new rebate program to increase access to EV chargers. Through the $5 million EV Charger and Installation Rebate Program, ComEd customers can receive rebates of up to $3,750 to offset the cost of purchasing and installing a Level 2 charger in their home in 2024. 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.

To qualify, customers who live in a single-family home, or multi-family home with two units or less, must demonstrate purchase of a Level 2 charger on or after February 1, 2024. Rebates ranging from $2,500-$3,750, with funding not exceeding the total cost of purchase and installation, will be provided on a first-come, first-served basis, with low-income customers and customers residing in equitable-eligible communities qualifying for the highest rebate amounts. For more information on application requirements, and to apply, visit ComEd.com/clean.

“ComEd is thrilled to launch our new EV Charger Rebate program as part of our ongoing work to accelerate the benefits of transportation electrification throughout northern Illinois,” said Melissa Washington, SVP of Customer Operations and Chief Customer Officer at ComEd. “The air quality and sustainability benefits of EVs are clear, but we know this technology is not yet attainable for all our customers. Our new programs are working to eliminate barriers so more customers can reap these benefits, particularly those facing financial barriers and those who reside in communities most adversely impacted by pollution and air quality issues.”

To make EVs more accessible, the program offers the highest rebates and reserves 50 percent of funds for equity-eligible communities, including low-income customers and customers living in Equity Investment Eligible Communities (EIEC), as defined by the state of Illinois. This EV charger and installation rebate program is part of a multi-year investment by ComEd, launched last year to accelerate adoption of electrified technologies, including EVs. Efforts to boost EV charging access for customers are key to advancing the goal of 1 million EVs on Illinois roads by 2030 set by the State’s Climate and Equitable Jobs Act (CEJA).

EVs are on the rise in Illinois, with 93,000 registered statewide, including 80,000 EVs driving in ComEd’s service territory, up from 17,000 electric vehicles in the region in 2019. Despite the many environmental and cost savings benefits of EVs, barriers to their adoption continue to exist, including upfront financial costs, range anxiety (the fear that the EV battery charge won’t cover the distance you are traveling), and the cost to purchase or install EV infrastructure like EV chargers. The new charger rebate program for residential customers aims to significantly expand access to charging equipment, eliminating one of the key demonstrated barriers to EV adoption. This new ComEd program will further increase access to EVs, building on the Illinois state EV rebate program and federal EV tax credits for new and used EV’s that are helping make EV ownership available to more people.

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 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.

“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.

“Rebates are key to making EV ownership more accessible in our communities,” said Mary Ellen Guest, Executive Director of the Chicago Bungalow Association. “This program will help our members, especially those on the South and West sides of the City, to add in-home charging to further reduce reliance on fossil fuels on the road.”

“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.”

New residential rebates are just one aspect of ComEd’s beneficial electrification investments. Coming soon, ComEd will launch business and public sector rebates for EVs and make-ready charging infrastructure – with a focus on serving businesses, mass transit agencies, and local governments, among other eligible customers. All together, these efforts seek to promote equitable access to EVs, lower costs of EV adoption for customers and communities, and accelerate the buildout of a regional network of EV charging to serve more customers – a key factor to growing EV adoption.

Using ComEd’s free EV Toolkit, residential, business, and public sector customers can generate detailed information about EV conversion cost savings and learn more about a variety of charging options and how to select the right choice to suit their needs at home, based on their driving habits. Also, customers can discover how to find publicly available charging near them. To learn more, visit the EV Toolkit at www.comed.com/ev.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240201470793/en/