Update June 16, 2024: ComEd announced that it is not accepting new rebate applications for most customers. We do not believe new EV charger customers will be able to receive the rebate in 2024. Please see ComEd’s website for the most up-to-date information.
Having an EV charger at home is the most convenient and least expensive way to charge an electric vehicle. It’s also a great investment in your home; many homebuyers are coming to expect EV charging capabilities in prospective houses.
It’s pretty clear that getting an at-home EV charger installed at some point is a good choice. ComEd just launched a new EV charger rebate that makes installing one right now an obvious choice, especially since it can cover the entire cost.
What’s covered under the $2,500 ComEd EV charger rebate?
ComEd customers who purchase a Level 2 EV Charger after February 1, 2024, can claim up to $2,500 to cover the cost of the equipment and installation. This includes:
- EV charger
- Labor
- Other equipment such as conduit, cables, and fasteners
- Electric panels
A basic EV charger installation typically costs around $2,000, which means you’d essentially be getting an EV charger installed for free. There are various factors that could make the cost of installation higher, such as the distance from the main service panel to the charger, or whether the panel requires an upgrade. Either way, this EV charger rebate dramatically reduces your costs.
What is a Level 2 EV charger?
Level 2 charging equipment uses a high-power 240 volt electrical circuit, as opposed to a standard 120 volt outlet. The higher power means that it can charge an EV much more quickly, reducing charge times by as much as 70% depending on the vehicle and equipment.
Most homes have only standard 120 volt outlets in the garage or outdoors, so an electrical upgrade is required to get the full benefit of faster Level 2 charging. You’ll want an experienced electrician, like Certasun, to perform this work, ensuring an efficient charging circuit, safely integrated with your home electrical system, in compliance with local regulations in your community.
ComEd EV Charger Terms and Conditions
Customers who want to claim the ComEd EV charger rebate must enroll in ComEd hourly pricing for a period of three years. With hourly pricing, the price you pay for electricity varies hour to hour based on wholesale market prices. Typically, electricity is most expensive in the afternoon and cheapest at night.
According to ComEd, hourly pricing participants have saved an average of 15% on their energy supply costs compared to fixed rate customers.
Customers who shift some amount of their peak time usage to off-peak times stand to save even more money with hourly pricing. For those who set their electric vehicles to charge overnight, hourly pricing can make a lot of sense.
How Do I Claim the ComEd EV Charger Rebate?
Once your EV charger is installed, Certasun will help you apply for the EV charger rebate. ComEd will send the rebate directly to you.
The EV charger rebate program is effective until 12/31/2025 or until funds run out. Why wait? Contact us to secure your EV charger installation today.
See ComEd’s website for full terms and conditions.
