While purchasing an electric vehicle is becoming more affordable, buyers are still wary of other costs associated with EVs, such as charger installation.
“The unknown of what it will cost to maintain the vehicle and the battery is the number one barrier holding back local buyers right now,” Southwest Motors Sales Manager Luke Gomez said. “The number two barrier is the cost of installing a charger: doing the electrical work and finding a contractor — all of that sounds scary,”
As of mid-August, when this article was written, Southwest Motors had more electric vehicles on their lot than any other Pueblo-based used car dealership. However, most were hybrid-electric vehicles (HEVs), highlighting the continued hesitation toward home charging requirements. Unlike battery-electric models (BEVs) or plug-in hybrids (PHEVs), HEVs do not need to be plugged in.
Costs for installing an EV charger at home can vary widely, especially in older homes that may require electrical upgrades. This makes rebates especially valuable to local homeowners who want to make the switch to an EV.
In many parts of San Isabel Electric’s service territory, the average home’s electrical system is decades behind modern electrical code; houses in the area are nearly 60 years old, on average
The cost of installing a 240-volt, Level 2 EV charger at home can cost $500-$3,000 or higher based on specific installation needs. To help reduce this cost barrier, San Isabel Electric Association is offering a limited-time rebate that can cover half the cost of purchasing and installing a Level 2 home charger, up to $3,000.
“One of the goals of the EV Home Charge Pilot program is to reduce the cost of a home charger by providing a larger rebate,” SIEA Distributed Resources Manager Jack Snell said.
The incentives are greatest for households with old electrical, more complex installs, and that earn between 80% and 150% of the area’s median income. But rebates are available for all income levels and installs — even DIY installs.
Because eligibility requirements apply, members should review the application before purchasing equipment or beginning installation.
Charging an EV at home can save 75% or more, versus charging at a public Level 3 or DC fast charger. “In other words, having a charger at home is key to realizing potential financial savings with an EV,” Snell said.
San Isabel Electric’s Energy Services team offers free project oversight and expert advice, even if you purchase an EV charger on your own. Competitive on-bill financing options are also available for those who qualify.
For more information about this new rebate offer, visit siea.com/shifttosave/#rebateboost.
