Utility rebates aren't going away, just like Verizon isn't going to stop giving away iPhones to its customers.
Federal incentives seem to be going away, as many have predicted. But utility incentives aren’t going anywhere. Here’s why:
At EVpin we've been monitoring rebate and incentive programs across the U.S. for quite some time. Remarkably, well over 50% of all available EV charging programs are utility rebates.
Every charging station that utilities finance isn’t just an expense, it’s a smart way to win customers for the long run. It’s a bit like Verizon giving away a free iPhone to customers who sign up for a multi year contract. In other words, utilities view incentives as a great opportunity to keep customers coming back year after year. By nudging charging point operators (CPOs) and site hosts to install EV charging, they’re setting up a steady flow of revenue for the future.
If I was running a utility program for public DCFC charging, I would make it a hard requirement to install charging in areas with high utilization potential. Utilities make money when CPOs make money, install charging location in the wrong location and nobody makes money. This approach would reduce risk and create a win-win situation for both CPOs and utility companies.
Sometimes the most profitable path and the most sustainable path align. This convergence isn’t driven by ideology but by sound economic principles. And that’s why utility rebates are not going away.