EV Charger Installation Has Gotten Much More Affordable
EV charger installation is a great way to upgrade a multifamily building with sustainable, forward-thinking infrastructure that will attract green-minded tenants. With more and more Canadian drivers switching to electric vehicles, this is an increasingly important subset of potential tenants to appeal to.
However, while owners of multifamily strata can recoup much of the expenses associated with EV charger installation over time, the upfront costs can present a significant barrier. Luckily, there are excellent BC Hydro multifamily rebates and free incentives to make EV charger installation easier than ever for multifamily buildings. Here’s what you need to know to take full advantage of their programs.
What Multifamily EV Charger Installation Rebates Are Available?
Unlike the rebates for home EV charging stations, the incentives available for multifamily installations have multiple parts. There are individual components to support not just chargers, but the upgrades needed to prepare a building for EV charger installation. Here’s what’s available:
EV Ready Plan Rebate
Getting a building with older electrical infrastructure ready to support EV charging stations isn’t always straightforward. When making changes to older buildings, careful consideration has to be made for keeping things up to code, and altering electrical infrastructure throughout a large building can quickly become a very complex project.
It takes planning to make these changes, so BC Hydro provides up to $3,000 in rebates for the creation of an “EV Ready” plan. This money supports building owners working directly with professional electrical contractors to come up with a plan for their building to support EV chargers.
EV Ready Infrastructure
Of course, after planning comes execution. BC Hydro’s rebate for executing on EV Ready plans is very generous, recognizing that updating electrical infrastructure can get expensive quickly. This portion of the multifamily rebate provides up to $120,000 to support EV Ready infrastructure upgrades.
EV Charger Rebate
Finally, BC Hydro also provides incentives for the purchase and installation of charging stations themselves, with up to $14,000 in rebates available per apartment or condo complex. This includes a maximum of $1,400 per charger for those who participated in the EV Ready program, and up to $2,000 per charger for those whose buildings were already EV Ready.
Electric Vehicle Advising Hours Also Available
An often overlooked part of the multifamily incentive offerings, BC Hydro also provides for up to five hours of free advice and planning from an EV charging expert. For those whose buildings are already EV Ready, this is an excellent resource, as installing EV chargers in these buildings still takes careful planning and consideration to ensure the project goes smoothly.
About the Application Process
Certain portions of the BC Hydro rebates require pre-approval before any purchases can be made. This includes the EV Ready infrastructure rebate and the standalone EV charger rebates. However, pre-approval is not required for the EV Ready plan rebate.
There is no deadline for pre-approval or rebate application at this time. However, once you receive pre-approval for an EV charger installation project, you will have a limited timeline in which to complete the project and submit all paid invoices for reimbursement.
TCA Can Help You Complete Your EV Charger Installation!
As Vancouver’s leading EV charging experts, we’ve helped many homeowners, business owners, and multifamily property owners upgrade with EV charging devices. With years of experience in EV charging, we know all the ins and outs to ensure your EV charger installation goes as smoothly as possible.
If you’re looking to add EV charging infrastructure to a multifamily building, TCA Electric can not only complete the installation, but can also guide you through the entire process. We’ll be happy to help you put together all the necessary documentation for pre-approval and submitting your final application, as well as working with you to create a cohesive EV Ready plan for your building. Contact us today to learn more!