Charging is a major concern for both current and prospective electric vehicle owners. While many automakers offer credits for public charging through their partners, home charging remains the most common method and often the most cost-effective. However, there may be hidden costs associated with home charging that could make it more expensive than anticipated, making any incentives highly desirable.
Chevrolet And Cadillac
The 2023 and 2024 Cadillac Lyriq, along with all remaining new 2023 Chevrolet Bolts, are eligible for a $1,500 credit toward the installation and permits for an approved charger if the customer opts out of a $500 EVgo public charging credit. This is a straightforward plan, and the dealer should assist the customer in finding an approved installer.
Honda And Acura
Honda and Acura provide various incentives for home charging on the Prologue and ZDX, respectively. These incentives are available for reservations but are yet to reach customers, offering a comprehensive plan for reducing the cost of home charging.
Honda and Acura offer three plans for charging incentives on these SUVs, which customers can choose from upon delivery:
Plan 1: Includes a charger from their accessories catalog, a $500 installation credit, and a $100 EVgo public charging credit.
Plan 2: Offers a portable charging cable for both 120V and 240V outlets, $250 towards electrical upgrades for a 240V plug in the garage, and $300 in EVgo credits.
Plan 3: Provides a $750 credit for charging at EVgo stations.
The first plan is ideal for those not equipped for Level 2 home charging as it takes about 8 hours to charge a Prologue from 0 to 100%. Other automakers generally charge around $600 for chargers before installation, whereas Porsche charges $1,670 for their branded unit.
Ford
Ford also offers discounts on branded chargers periodically, providing a 20% discount on the $799 48-amp unit for the Mustang Mach-E and E-Transit, as well as the $1,310 80-amp unit for the F-150 Lightning.
Others
Several automakers offer programs to connect customers with energy-saving services during charger installation, such as the Hyundai Home network, which provides not only charger installation but also estimates for solar panel installations. Prospective EV customers can also explore incentives available in their area through local, state, and federal governments, as well as utility companies.
Today, most discounts for home charging are focused on incentives. With public charging becoming less cost-effective, home charging remains the most reliable option for those who have the means to utilize it. However, it’s important to note that equipment and installation costs are typically not included for free when purchasing a new EV.