The Mile High City is taking strides to become a leader in electric vehicle adoption. This includes providing financial assistance to businesses and organizations looking to install commercial EV charging stations. If you’re a business owner in Denver considering making the switch to electric vehicles for your fleet, or offering charging to your customers, there are several commercial EV charging grants and incentive programs available to help offset the cost.

Commercial EV Charging Grants in Colorado

Charge Ahead Colorado is the main program offered by the Colorado Energy Office (CEO). This program provides grant funding for public, private, and non-profit organizations, including businesses, to install Level 2 and DC fast chargers. Level 2 chargers are ideal for overnight or workplace charging, while DC fast chargers can provide a quick boost in under an hour. The CEO offers significant incentives, covering up to 80% of eligible costs, with maximums ranging from $4,500 per Level 2 port to $70,000 for a DCFC station. There are even additional incentives available for projects located in low-income communities or for income-qualified applicants.

For businesses with larger fleets, the CEO’s Fleet ZERO program might be a better fit. Fleet ZERO offers reimbursements of up to 80% for the installation of EV charging infrastructure, with a maximum of $3,000 per Level 2 charger and $50,000 per DC fast charger. This program is ideal for companies looking to transition their delivery vehicles, taxis, or other fleet operations to electric.

Federal Commercial EV Charging Grants and Incentives

Don’t forget about the feds! The US Department of Transportation (USDOT) has a grant program specifically for EV charging infrastructure, though applications are currently closed. The program is expected to reopen in 2024, so be sure to stay tuned for updates. The USDOT prioritizes projects in rural areas, low-income neighborhoods, and multifamily housing units, making them a great option for businesses located in these areas.

Federal Tax Credits

The federal government also offers a tax credit for businesses that purchase electric vehicles. The Commercial Clean Vehicle Tax Credit provides a credit of up to $7,500 for new battery electric vehicles, plug-in hybrids, and fuel-cell electric vehicles. There are some stipulations around battery component manufacturing location, so be sure to research the details before purchasing.

Local Utility Rebates

On top of state programs, some Denver-area utility providers offer their own rebates and incentives for EV charging station installation. Be sure to contact your utility provider to see what programs they offer. For example, Black Hills Energy offers a variety of rebates for commercial EV charging, and Xcel Energy has some great deals for small businesses.

Making the Switch to Electric

These grants and incentives can significantly reduce the upfront cost of installing commercial EV charging stations, making it a more attractive option for Denver businesses. By offering charging to your customers or electrifying your fleet, you can contribute to a cleaner environment, attract environmentally conscious customers, and potentially save money on fuel costs in the long run. With the variety of programs available, there’s sure to be a grant or incentive that fits your business needs. So, start exploring your options and join Denver in its push toward a more sustainable future.

FAQs

1. What type of business qualifies for these grants and incentives?

Most Colorado grant programs are available to a wide range of businesses, including public, private, and non-profit organizations. The federal tax credit is specifically for businesses that purchase electric vehicles. Be sure to review the specific program guidelines for any eligibility requirements.

2. How much will these grants cover?

The amount of grant funding you receive will depend on the program you apply for and the type of charging station you install. Generally, programs cover a percentage of the eligible project costs, with maximum amounts varying. For example, Charge Ahead Colorado covers up to 80% of costs, with a maximum of $4,500 per Level 2 port.

3. Are there any deadlines for applying for these grants?

While some federal programs have application windows, the Colorado grant programs like Charge Ahead Colorado and Fleet ZERO typically accept applications on a rolling basis throughout the year. However, funds are limited, so it’s always best to apply sooner rather than later.

4. How do I find out about my local utility provider’s EV charging incentives?

The easiest way is to visit your utility provider’s website or contact them directly. They should have information on any rebates or incentives they offer for commercial EV charging station installation. You can also check using our handy rebates tool!

5. Where can I learn more about these programs?

The following resources can provide more information on the programs mentioned in this article:

Contact Peak EV Solutions for a free quote on your commercial EV charger installation today!