Published on July 21st, 2014 | by Chris Demorro2
25 Utilities In 14 States Offer EV Incentives
EV sales have managed to about double every year since 2011, which has electric car enthusiasts feeling optimistic. As many EV owners are finding, there are a number of perks that come with owning an electric ride, among them special rates and incentives from utility companies.
Northeast Group, LLC. conducted its fourth annual study and found that 25 different utilities in 14 U.S. states are offering EV tariffs, and this includes 8 of the nation’s 15 largest utility companies. These incentives are aimed at getting EV owners to charge their cars at night, when usage and cost is lower, and this is true across every utility and state.
However, these special nighttime charging rates offered by certain utilities can cut the cost of a gallon-equivalent of electric in half. In states with the tariffs, the average cost of an “eGallon” was about 75-cents, while in states without special rates, the price was about $1.42. Even that is still less than half the cost of a gallon of gas, which current averages about $3.70 in the U.S.
Hopefully this trend of offering special charging rates to electric vehicle drivers will continue, converting more drivers to the ranks of EV owners.