Funding for Electric Charging StationsFunding for EV Charging stations will be opening once again in January, offering millions of dollars in funding. If you’re planning on installing EV charging stations at your dealership, now is the perfect time to start getting prepared as this will be the only funding round for 2023.
Overview of ZEVIP
ZEVIP set aside a limited dollar amount for this funding round. Each application will be prioritized on a first come, first serve basis. This means that once the program opens, there is a limited time in which to submit your application.
While ZEVIP funding details are still to be released, we expect the program to be similar to the last funding round.
What does ZEVIP Cover?
Historically ZEVIP has covered 50% of EV installation costs including:
- EV Chargers
- Cables, wiring and conduit
- Contracting, engineering, construction, testing and commissioning of equipment, training and maintenance
- License fees and permits
- Costs associated with environmental assessments, salary, and benefits
To get ahead of the pack, we suggest getting quotes from contractors and vendors for the purchase and installation costs of the EV charging station installation project.
ZEVIP Funding Amounts
This round of the ZEVIP program will most likely be divided into two streams: non-repayable grants and repayable loans. Funding amounts are as follows:
- ZEVIP will cover up to 50% of project costs with a maximum Grant of $100,000 based on total project expenditures of $200,000 or more.
- EV chargers with an output of between 3.3 kW and 19.2 kW are eligible for a Grant of $5,000 based on expenditures of $10,000 or more.
- EV chargers with an output between 100 kW to 199 kW are eligible for a Grant of $75,000 based on expenditures of $150,000 or more.
- For expenditures between $200,001 and $5,000,000 ZEVIP will provide a repayable Loan over 10 years.
For more information call (905)-678-6368 or email firstname.lastname@example.org
EV Charging station must be new and purchased equipment and cannot be leased.
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