Power Up Your Garden State Business With New Jersey EV Incentives
There’s never been a better time to commit to an electric future — especially in the Garden State. Thanks to extended federal tax credits and robust New Jersey state EV charging incentives, this is the best time to invest in EV charging. Businesses can offset their initial costs and enjoy sustained savings for years to come. If your business is based in New Jersey, EV Connect can help you take advantage of these New Jersey EV incentives while providing the support and software you need to manage your brand-new charging network. Here’s where to begin.
Federal Tax Credits
Regardless of your location, there is good news for businesses ready to upgrade their fleet to EV or offer cutting-edge service to their customers and employees. The 2020 30C Federal Tax Credit has been extended through 2021 which opens the door for substantial savings on EV charging.
The 30C credit covers up to 30% or $30,000 of the up-front costs for purchasing and installing EV charging infrastructure and equipment for qualified properties and businesses. EV charging infrastructure is a significant investment, and these federal credits will offset those costs while paving the way for more businesses to create charging points for EV drivers.
Moreover, station owners with multiple properties can apply the credit for each new charging location they create. Stacking these federal credits add up to serious dollars saved and will help businesses fully transform their properties while providing valuable, sustainable fueling options for their communities.
There is no way to predict whether the 30C tax credit will be extended again in the future. This makes 2021 a critical time to invest in EV while leveraging the best incentives possible.
New Jersey EV Incentives
Once your business has claimed the Federal credit, it’s time to delve into the state and local EV charging incentives and programs that will reduce upfront installation costs even further. It’s no surprise that the Garden State is going green with programs and funds that make New Jersey EV charging incentives some of the most attractive in the country.
For a state so closely associated with driving and car culture, New Jersey is leading the charge for EVs and continues to pass laws and create incentives designed to build out infrastructure and make switching to EVs an easy financial decision. Companies that upgrade their fleets to zero-emission vehicles will reap the benefits every time they hit the road — from the sales tax exemption on ZEV purchases to discounts on tolls and credits for replacing internal combustion trucks with clean fuel alternatives. New Jersey EV incentives also include grants that reduce costs for EV supply equipment and even rebates for electric miles driven.
The state’s main program, It Pay$ to Plug In, is specifically dedicated to providing grants for the installation of new EV charging equipment in both public and private parking lots. Qualified local businesses can apply for funding that will cover a whopping 60–100% of the costs of purchasing and installing EV charging equipment — essentially subsidizing the road to a sustainable future. These incentives apply to Level 2 and the newest DC fast chargers. If those terms are confusing, EV Connect is here to help.
Find the Right Connection
EV technology is growing and changing at breakneck speeds which can be overwhelming for companies new to the EV space. EV Connect will work with your business to create a fully-customized EV installation strategy based around your specific needs and goals. We will help you choose the right equipment for your company — whether you are looking to upgrade your fleet to EVs, help your employees charge at the office or provide your customers with charging points on your property.
Our expert team maintains strong relationships with state, local and municipal programs across the country in order to leverage the best possible financial savings for our customers. EV Connect will help you defray your initial costs while creating a network that will provide charging solutions now while growing and adapting to innovations in technology down the line.
Once you’ve installed your new charging stations, EV Connect software will empower your business to maintain and manage your network from anywhere. We guide companies of all sizes, sharing insights and best practices to help you maximize your return on investment and reduce electricity costs. We provide 24/7 customer and driver support to keep your stations running at optimal levels and your customers satisfied.
This year is already shaping up to be the best yet for electric vehicles, so contact EV Connect today and start powering up your business in 2021 and beyond.
Sources
New Jersey Clean Energy - New Jersey’s Electric Vehicle Incentive Programs
U.S. Department of Energy - New Jersey Laws and Incentives