Many electric vehicle (EV) drivers opt for Level 2 charging at home, but the cost to add a charging station can be steep and unpredictable. In addition to purchasing the equipment itself, EV drivers may need to take steps to get their home ready for the installation. These upfront investments can make purchasing an EV cost prohibitive and act as a barrier for drivers hoping to take advantage of the operational savings that come with electric transportation.
With this in mind, Duke Energy recently launched the EV Charger Prep Credit program to reduce the financial burden of installing residential Level 2 charging. The program provides a one-time credit of up to $1,133 per household for inserting outlets, improving electrical wiring, upgrading electrical panels and performing other electrical enhancements needed to support home charging.
The initiative stems from Duke’s Make Ready Credit Program, which was approved by the North Carolina Utilities Commission earlier this year. The maximum credit amount was selected based on the revenue Duke expects to generate within a few years of a charger being put in.
There are two ways to access the credit. The first is for people who already have a contractor selected or who have had charger preparation work completed in the last four months. After submitting an application and supporting documentation, you’ll receive a check in the mail with your credit total (assuming your application is approved). The second opportunity is for people who are not as far along in the process — Duke can help identify a contractor to carry out the project, and you’ll receive the credit on your final contractor bill.
By allowing Duke to leverage future kilowatt-hour sales to offset costs, the EV Charger Prep Credit program makes it cheaper for EV drivers to charge up at home. To learn more and see if you’re eligible, click here. Duke is planning similar programs for multi-unit dwellings and other commercial customers (e.g., businesses, fleets and school bus operators), so be on the lookout for more information about those efforts.