Incentives
Supercharge Your Property: Claim Up to $30k with Duke Energy’s EV Charger Prep Credit in North Carolina
08/20/2024
The Duke Energy Commercial Charger Prep Credit program encourages the adoption of electric vehicles (EVs) by offering businesses credits of up to $30,347 to prepare EV charging infrastructure within Duke Energy’s service areas. This overview will walk you through the details of the credit and explain how partnering with an experienced EV charging solutions provider can help businesses fully capitalize on this program while optimizing their investment in charging infrastructure.
What is the Duke Energy Charger Prep Credit?
The Duke Energy Commercial Charger Prep Credit program provides a one-time credit to help business customers cover the costs of preparing their sites for EV chargers. Its goal is to increase the number of EV charging stations across Duke Energy’s service areas, focusing on key locations like workplaces, multifamily dwellings, transit stations, and schools.
What costs does the Duke Energy Charger Prep Credit include?
Costs eligible for credits through the program include:
- Electrical wiring
- Required electrical upgrades to support Level 2 or higher EV chargers
- Other necessary electrical equipment
It’s important to note that the credit does not cover the cost of:
- Permitting
- EV charger installation
- The EV charging equipment itself
What are the rebate amounts?
The program provides credits of varying amounts based on several factors:
- Charger type (Level 2 or DC Fast Charger)
- Total kW needed
- Whether a Duke Energy service upgrade was required
Credit amounts can range from $725 for workplace Level 2 chargers up to $30,347 for transit bus DC Fast Chargers.
Who is eligible?
To be eligible for the program, applicants must:
- Be a business customer of Duke Energy
- Have completed the charger prep work after May 19, 2022, and within the last 120 days
- Have the work completed by an electrical contractor
Installment site requirements
To be eligible for the program, the charger installation site must be:
- Located within Duke Energy’s service area
- Suitable for the installation of Level 2 or higher EV chargers
Equipment requirements
While the program doesn’t cover the cost of the charging equipment itself, it’s designed to support the installation of:
- New EV charging infrastructure
- Level 2 or DC Fast Chargers
30C Federal Tax Credit
The Alternative Fuel Vehicle Refueling Property Tax Credit, also known as the “30C” tax credit or EV charging tax credit, is an additional incentive that has been around for quite a few years and is one of the primary federal incentives to help offset the cost of installing EV charging stations. Eligible projects can receive up to $100,000 per item of property or 30% of the cost of the project.
How SWTCH helps:
- We offer three monetization options to help you capture this credit:
- a) Customer self-administered (estimated 30% credit value)
- b) SWTCH administrative support (estimated 27% credit value)
- c) On-bill discount (22-25% upfront cost reduction)
- Our team ensures prevailing wage and apprenticeship standards are met
- We provide all necessary tax filing documents
To see if you’re eligible and to learn more about the process, read our blog to ensure you get the tax credit.
Payment Options: SWTCH CaaS (Charging as a Service)
To reduce upfront costs, SWTCH offers Charging as a Service, a monthly payment plan which bundles the cost of installation, the cost of the EV charger, the monthly service fee, and our O&M service plan, SWTCH Care into one simple fee, shifting the cost from a capital expense to an operating expense.
When is the deadline to apply?
Applications must be submitted within 120 days of the final invoice date or approved permit date, whichever is later.
How do I apply?
SWTCH can guide you through the rebate application process, ensuring your submission meets the high standards required for success. Connect with us today to get started!
As a leader in EV charging solutions for multi-residential and commercial properties across North America, SWTCH leverages cutting-edge technology to help building owners and operators deploy optimized, multi-vehicle charging systems. Our solutions make use of existing grid infrastructure, providing a cost-effective charging system that meets the needs of your EV drivers today and scales effortlessly to accommodate future demand.
To learn more about how SWTCH can support your EV charging needs, explore our multifamily, workplace, and retail/public EV charging solutions.
Getting Started with SWTCH
- Design: We’ll help determine appropriate electrical sizing, layout, and hardware options.
- Quote: We’ll advise on incentives and financing options to minimize upfront costs.
- Install: We work with your contractor (or ours) to ensure proper installation and deployment.
- Manage: SWTCH provides ongoing energy management and 24/7/365 support.
Partnering with SWTCH ensures your business can navigate EV charging incentives, tax credits, and financing options with ease. Our comprehensive solutions help you maximize benefits while providing a reliable and scalable EV charging infrastructure.
Ready to electrify your property with SWTCH? Contact us today to learn more about available incentives and how to reduce your upfront costs.
