Level 2 EV Chargers Are a Smart Buy for Businesses Right Now

As EV adoption continues to grow, businesses are looking for ways to attract EV drivers and prepare for the future. One smart investment? Level 2 EV chargers. These chargers strike the perfect balance between cost, functionality, and availability of incentives, making them a great choice for workplaces, retail locations, multifamily residences, and fleets. Here’s why they’re worth considering right now.

What is a Level 2 EV Charger?

Level 2 chargers are the most popular choice for business properties because they’re faster than standard Level 1 chargers but more affordable than DC fast chargers. They use a 240-volt power source, similar to a home dryer or oven, and can fully charge most EVs within 4-8 hours. This makes them ideal for places where people park for extended periods, such as:

• Workplaces: Employees can conveniently charge during work hours.
• Retail Locations: Shoppers can top up while they shop, encouraging longer visits.
• Multifamily Residences: Tenants can charge overnight, making properties more attractive to EV owners.
• Fleets: Vehicles can be charged during off-hours, reducing downtime.

NEVI Funding Confusion: Tax Credits Are Unaffected for Now

The recent suspension of the National Electric Vehicle Infrastructure (NEVI) funding has caused confusion for states and businesses across the US. The US Department of Transportation halted the $5 billion NEVI program, which was building a nationwide network of DC fast chargers. However, this suspension does not impact Level 2 chargers, making them an excellent business investment.

While NEVI funding for DC fast chargers is on hold, federal tax credits remain intact. According to both the Department of Energy and the IRS websites, businesses can still claim a tax credit of up to 30%, subject to meeting requirements.

This stability in incentives makes Level 2 chargers a reliable investment, especially during this period of uncertainty for DC fast chargers.

State Incentives: A Boost for Level 2 Charger Installation

Many states offer additional incentives that make Level 2 chargers an even more attractive investment. These state-level incentives significantly reduce upfront costs and accelerate the return on investment. To explore what’s available in your state, the US Department of Energy offers a searchable database of incentives. It’s an excellent resource for finding state-specific opportunities that fit your business needs. For example:

• Maryland: The EVSE rebate program covers up to 50% of the cost of equipment and installation.
• New York: The Charge Ready NY program offers up to $4,000 rebates per Level 2 charging port.

It’s important to check, as each state’s incentive program and enrollment period differ. Plus, some states don’t offer EV charger incentives – but there’s a good chance your utility might.

Utility Incentives: Further Reducing Costs

Many utilities also offer rebates and incentives for businesses to install Level 2 chargers. These utility incentives can be combined with federal and state programs, making the investment even more affordable for companies.

Here are a few examples:

• Austin Energy (Texas): Its Workplace Charging Program offers up to $3,000 rebates per charging station installed.
• Eversource (Connecticut): It provides business EV charging rebates to encourage installing EV chargers and accepts Level 2 charger applications.

Check your utility’s website to see what incentives or rebates it offers.

The Rise of EV-Ready Requirements in Multifamily Housing

As EV adoption rises, multifamily properties increasingly consider EV charging a must-have amenity. Five states (New York, California, Washington, Oregon, and Massachusetts) now require EV-ready parking spots and EV charging ports in new multifamily developments. Installing Level 2 chargers in multifamily residences offers several benefits:

• Attracting tenants: EV owners actively seek properties with charging options, which can reduce vacancy rates and increase property value.
• Future-proofing: Meeting EV-ready requirements now prepares properties for the increasing demand for charging infrastructure.
• Competitive advantage: Offering EV charging sets properties apart from competitors who don’t have this amenity.

As more states adopt similar requirements, installing Level 2 chargers becomes a strategic move to stay ahead of regulatory trends and meet tenant expectations.

Explore Your Options with AmpUp

Level 2 chargers remain a stable, reliable investment with continued federal tax credits, robust state incentives, and utility rebates. They’re particularly beneficial for workplaces, retail centers, multifamily residences, fleets, and more.

Plus, with more states requiring EV-ready infrastructure in new developments, now is the time to invest in Level 2 chargers to future-proof your property and attract EV-driving customers and tenants.

Ready to get started with AmpUp?

We are here to guide you from selecting the right Level 2 chargers to claiming incentives — all while managing your charging network.

Contact us via form or send an email to sales@ampup.io and we’ll handle the heavy lifting so you can focus on your business.