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Peco Offers $1.5M in Incentives for Customers to Advance Electrification of Their Fleets

(Credit: Pixabay)

Peco is offering $1.5 million in incentives for customers looking to advance electrification of their fleets. The program will offer commercial and industrial customers the incentives to be used to offset the cost of installing EV charging infrastructure. 

The new rebate will offer funds to offset the cost of installing EV charging infrastructure at locations including workplaces, retail businesses, public charging areas, and multi-unit dwellings. Projects located within PECO’s service territory are eligible to receive up to $2,000 per charging port or 50% of eligible make-ready costs, up to a maximum of 20 ports. Make-ready costs include work necessary to ensure a safe electrical connection from the PECO meter to the EV charging infrastructure (not including the cost of charging equipment). The rebate is increased up to $3,000 per port or 75% of make-ready costs for projects located within Environmental Justice Areas, as defined by the Pennsylvania Department of Environmental Protection. All commercial and industrial customers are eligible, regardless of their retail electricity supplier. The average cost of charging station installation is around $6,000 per port, according to Future Energy.

Many companies are growing their EV fleets. WattEV recently added 50 electric trucks to support its truck-as-a-service program, which provides shippers and carriers access to the battery electric vehicles, as it also looks to expand charging infrastructure. The program, being offered in California, provides the trucks at a per-mile rate, including charging, that WattEV says is comparable to the cost of operating diesel trucks. The company ordered Class 8 Volvo VNR Electric trucks to enhance the program. In Northern Germany, Northvolt is building a new plant that will supply Europe. The goal is to start cranking out lithium-ion batteries by 2025 at 60 gigawatt-hours per year — enough to build 1 million electric vehicles. Additionally, President Biden’s American Jobs Plan calls to construct 500,000 more charging stations in the US. 

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