Illinois’ SWTCH + ComEd Advantage: Install EV Charging with No Upfront Cost
With EV adoption accelerating in Illinois, multifamily property owners face both an opportunity and a challenge: EV charging can offer a competitive advantage in attracting tenants, but installation costs remain a barrier.
Programs like ComEd’s Make-Ready Rebate Program, which covers up to 100% of costs for upgrading electrical infrastructure (for up to 10 Level 2 chargers per property), make a big difference, but property owners still face expenses for EV chargers themselves, mounting equipment, and software.
Enter SWTCH’s Charging-as-a-Service (EV CaaS) offering, which eliminates upfront capital expenditure and replaces it with a simple monthly fee.
Through this combination of ComEd’s incentives with SWTCH’s zero-capital approach, property owners can now implement complete EV charging solutions with no upfront investment—just a simple—and low—monthly fee.
Here’s how you can take advantage.
How SWTCH’s EV charging-as-a-service works
SWTCH’s Charging-as-a-Service (CaaS) transforms what would typically be a capital expenditure (CapEx) into an operating expense (OpEx), providing a complete charging solution through simple monthly payments instead of a large upfront investment.
What’s Included in Your Monthly Fee:
- Hardware: Level 2 EV charging stations and mounting equipment
- Software: Complete platform with networking and payment processing
- Services: Installation coordination, 24/7 driver support, and technical monitoring
- Maintenance: Comprehensive repairs, software updates, and performance guarantees
- Compliance: All required ComEd reporting and documentation
When combined with the ComEd make-ready program that covers all electrical infrastructure costs, your monthly fee comes to approximately $50-60 per charger.
Standard agreements run for 5 years (60 months), with flexible terms available to accommodate specific property needs. At the end of the term, you can:
- Purchase the equipment outright
- Renew the agreement with upgraded hardware
- Have the equipment removed (site restoration included)
Bottom line: By combining SWTCH’s CaaS model with ComEd incentives, you can implement a complete EV charging solution with zero upfront capital while generating new revenue from day one.
Understanding ComEd’s Make-Ready Rebate Program
ComEd’s Make-Ready Rebate Program offers a substantial financial incentive for property owners looking to install EV charging infrastructure. The program covers 100% of “make-ready” costs up to $8,000. Make-ready costs include all electrical infrastructure from the transformer to the EV charging station’s stub. This funding is available to cover upgrades to service up to ten level 2 chargers.
Note: Property firms pay for the initial installation cost and then are reimbursed directly by ComEd upon completion. Applications must be submitted within 90 days of completing the installation, with the reimbursement of installation costs to the property owner to be delivered once installation is complete.
To qualify for the program, property owners must:
- Be located within ComEd’s service territory
- Install up to 10 Level 2 (L2) chargers per property
- Commit to maintaining operational chargers for a minimum of three years
- Submit the required reporting data to ComEd
- Complete installation according to program guidelines
Note: While funding through ComEd’s make-ready program is available for installing up to 10 chargers, you can install additional chargers without program support if you choose.
These additional chargers will be eligible for inclusion in your SWTCH charging-as-a-service agreement.
Added Benefits of SWTCH’s CaaS Offer
Beyond the financial advantages, SWTCH’s CaaS solution delivers several valuable benefits that make it the ideal choice for Illinois property owners:
1. Operational Simplicity
- Regular software updates and feature enhancements included
- 24/7 monitoring and technical support
- Guaranteed uptime and performance metrics
Bottom line: With SWTCH managing all technical aspects, you can offer a premium amenity without adding to your staff’s workload.
2. Property Value Enhancement
- Meet growing tenant demand for EV charging access
- Attract and retain residents who value modern amenities and convenience
- Command premium rental rates for units with charging access
- Future-proof your property against evolving tenant expectations
Bottom line: Create a more competitive property that appeals to today’s residents and future tenants, while also commanding higher rental rates.
3. Administrative Relief
- SWTCH handles all required reporting to ComEd
- Ensures compliance with changing regulations
- Manages software updates and security requirements
- Provides detailed utilization and performance reports
Bottom line: We handle the paperwork so you can focus on what matters – managing your property.
Ready to Get Started?
This offer is limited to a select number of properties in Illinois – don’t miss this opportunity to install EV charging with zero upfront cost while maximizing ComEd’s funding!
Contact SWTCH today for a complimentary consultation
Your Questions Answered
Q: Does using CaaS affect our eligibility for ComEd incentives?
A: Not at all! The ComEd Make-Ready program works seamlessly with SWTCH’s CaaS approach. Combining these programs creates the optimal financial structure with zero upfront cost.
Q: What are our options at the end of the 5-year term?
A: You can purchase the equipment, renew with upgraded hardware, or have the equipment removed at no additional cost.
Q: What if our property has limited electrical capacity?
A: The ComEd Make-Ready program is designed to cover electrical upgrades (up to $5,333 or $8,000 per port). Beyond this, SWTCH conducts a thorough site assessment to evaluate your property’s electrical capacity. If limitations exist, we can also implement electrical load management solutions that distribute available power efficiently among multiple chargers.
