With more electric vehicles on the road than ever before, owners need a convenient, cost-effective way to keep their cars charged and ready. Installing a home EV charger is a great way to achieve this goal, but installation can be expensive. Luckily, there are plenty of tax incentives and rebate programs available that can help offset the cost of installing an EV charger in your Cleveland home.
Here, the knowledgeable electricians at Clover Electric explain how you can maximize your savings on EV charging installation in Cleveland by taking advantage of federal, state, and local incentives.
The Benefits of Installing an EV Charger
An EV charging station is a special dock that allows you to charge your electric vehicle quickly and efficiently. Two main types of chargers are typically installed in residential properties: Level 1 and Level 2 EV chargers.
Level 1 chargers use the same standard 120v outlet found in homes and garages, adding up to 5 miles of range per hour of charging. Level 2 chargers rely on a 240v outlet and can provide up to 20 miles of range per charging hour.
Installing an EV charger in your Cleveland home can provide a host of benefits, including:
- Greater convenience: Eliminate the need to stop at a public charging station during your daily commute.
- Cost savings: Home electricity is often less expensive than at public charging stations, helping you save on fuel costs.
- Off-peak hours: Charging at home allows you to take advantage of off-peak electricity rates, further reducing the cost of charging your vehicle.
- Reduced anxiety: By charging your car at home, you won’t have to deal with range anxiety when hitting the road.
Incentives for Installing an Electric Car Charger in Cleveland
Thanks to the Inflation Reduction Act of 2022, Cleveland homeowners now have access to many different tax incentives and rebate programs targeted at helping minimize the cost of their EV charging station investment. These incentives are currently available:
- Alternative Fuel Vehicle Refueling Property Credit: Homeowners may receive up to 30% of the installation cost (a maximum of $1,000 per charging port) by filing Form 8911 with the IRS.
- Ohio Electric Vehicle Charging Station Rebate Program: This initiative offers $500 to $2,000 in rebates for EV owners who install a Level 2 charging station, depending on the type of charger and its location.
In addition to these incentives, customers for various electric companies throughout Ohio may qualify for $200 to $1,000 worth of rebates for installing a Level 2 charger. Incentives vary depending on the electric company, the type of charger, and the location in which it’s installed. Participating companies include:
- Butler Rural Electric Cooperative
- Carroll Electric Cooperative
- Darke Rural Electric Cooperative
- Firelands Electric Cooperative
- Hancock-Wood Electric Cooperative
- Lorain-Medina Rural Electric Cooperative
- Mid-Ohio Energy Cooperative
- Midwest Electric
- North Central Electric Cooperative
- Paulding Putnam Electric Cooperative
- Pioneer Electric Cooperative
- The Energy Cooperative
- Union Rural Electric Cooperative
How Much Does it Cost to Install an EV Charger?
The cost to install an EV charging station at home depends on your specific project needs; however, costs typically range from $799 to $1,999. Factors that may influence the total cost of your project include the need for rewiring services, electrical panel upgrades, or outlet replacements. The location of your EV charging station may also impact the cost of your project.
Schedule EV Charger Installation in Cleveland
Looking to reap the benefits of at-home charging for your electric vehicle? Clover Electric can help. Our team is deeply familiar with local rebates and tax incentives, helping you maximize savings on your EV charging station installations every step of the way.
With plenty of financing options and rotating service specials, we strive to make your EV charging station installation experience as affordable and accessible as possible.
Schedule an EV charging installation by calling Clover Electric today.
