August 2, 2022
How Can Multifamily Owners Offset the Cost of EV Charger Installation in Their Properties?
6 Min. Read
- Financial Incentives and Rebates: Multifamily property owners can offset EV charger installation costs through utility rebates, federal and state tax incentives, and grants, significantly reducing upfront expenses.
- Revenue Generation Opportunities: Implementing EV charging stations can create new income streams via usage fees or increased rental rates, while attracting eco-conscious tenants to boost occupancy.
- Professional Installation for Efficiency: Partnering with certified installers like Qmerit ensures cost-effective, compliant, and scalable EV charging solutions, maximizing long-term savings and property value.
Electric vehicle (EV) ownership is surging along with the need for fast and convenient EV charging solutions. Since most EV drivers prefer to charge their cars at home and many live in multifamily buildings, it may be time to consider EV charger installation at the properties you own or manage.
Installing EV charging in your properties brings several advantages, from meeting the growing demand for charging and earning additional LEED points to making your properties more appealing. EV charging stations can enhance the value of your property and help you attract and retain residents that drive EVs or may buy one.
Onsite EV chargers make residents’ lives easier and relieve range anxiety. In high adoption states, EV chargers are becoming an expected amenity in all multifamily properties.
Despite these benefits, high initial installation costs can be an obstacle. Thankfully, incentives are available to help cover the costs of multifamily EV charger installation. Read on for more details about financial relief for your installation project.
3 Levels of EV Charging
Before beginning your installation project, you need to know the basics of charging equipment and the best fit for your buildings and residents. Chargers are rated Level 1, 2, or 3 and have different costs, installation requirements, and charging speeds.
Level 1 chargers can be plugged into a standard 120-volt power outlet but are very slow, adding only about 40 miles of range over an eight-hour charging period. At the other end of the scale, Level 3 chargers can charge a battery in as little as 30 minutes, but equipment and installation can cost $350,000+ per port.
Most utilities incentivize the installation of Level 2 chargers, and they are the preferred choice for most drivers and multifamily property owners and managers. Level 2 charging stations can charge an EV in about eight hours, the perfect amount of time for residents to charge their EV at home overnight.
How To Offset Multifamily EV Charger Installation Costs
States, utility companies, and other entities offer incentive programs that defray your multifamily EV charger installation cost. Typical programs include state grants, tax credits, and utility company rebates. Some states even offer carbon credit revenue for charging infrastructure. Take advantage of every incentive you can as part of your multifamily charger installation strategy.
With a bit of research and careful planning, the chances are excellent that you will find ways to offset the cost of your installation project. The EV charging rebates & incentives by state tool on the Qmerit website is a great place to start.
Listed below are some of the types of incentives available. While these examples apply only to specific locations, most states offer similar programs.
Utility Incentives for Multifamily EV Charging
Electric utility companies are among the best resources for multifamily charger incentives. Programs include rebates and discounts on equipment and installation, and make-ready programs to offset infrastructure upgrade costs. Here are a few examples:
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Silicon Valley Power (SVP) – Santa Clara, CA
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Rebate Amount: Up to $150,000 per site for multifamily residential properties, covering Level 2 charger installations. Additional funding is available for projects meeting equity eligibility criteria (e.g., serving low-income communities).
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Details: Rebates can cover up to 100% of equipment and installation costs for qualifying projects, including shared-use Level 2 chargers. The program also offers up to $35,000 in credits toward load development fees for qualifying EV charging projects.
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Why It Stands Out: The high cap of $150,000 per site makes this one of the most generous programs for multifamily properties, especially for large-scale installations.
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Southern California Edison (SCE) – Charge Ready Program for New Multifamily Construction
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Rebate Amount: Up to $3,500 per Level 2 charging port for multifamily properties for the installation of customer-side make-ready electrical infrastructure work and L2 EV charging stations.
- Details: Any Level 2 EV charging equipment selected for installation must be listed on SCE’s Approved Product List. This program is available through July 12, 2025, or until available funding is fully subscribed.
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Consumers Energy – PowerMIDrive Program, MI
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Rebate Amount: Up to $7,500 per Level 2 charger for multifamily properties, with a maximum of $150,000 per property.
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Details: Requires installation of at least two Level 2 charge ports or NEMA 14-50 outlets on 100 amps of service, enrolled in a commercial Time of Use (TOU) rate plan. Offers a $20/month bill credit for the first year if 80% of charging occurs off-peak (outside 2 p.m.–7 p.m. weekdays).
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Why It Stands Out: The $7,500 per charger rebate is among the highest for multifamily properties, and the program encourages off-peak charging to reduce grid strain, benefiting both property owners and tenants.
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Portland General Electric (PGE) – Oregon
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Rebate Amount: Up to $2,300 per Level 2 charging port for multifamily properties, with higher rebates (up to $4,500) available for income-eligible properties.
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Details: Rebates support workplace and multifamily installations, with additional grants available through Oregon’s Community Charging Rebates program (up to $5,500 for public Level 2 chargers). PGE also auto-enrolls participants in TOU rates for cost savings.
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Why It’s Notable: The combination of utility and state-level rebates can significantly offset costs, especially for income-eligible multifamily properties.
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Who is supplying electricity to your building? It pays to check with your utility to see if they have any rebate programs for adding EV charging or upgrading electrical infrastructure.
State Tax Credits for Multifamily EV Charging
Several states offer tax credits specifically for the installation of electric vehicle (EV) charging stations at multifamily properties, aimed at encouraging the expansion of EV infrastructure for residents in apartments, condominiums, or other multi-unit dwellings.
Georgia offers an income tax credit for businesses installing qualified EV charging stations, including those at multifamily properties. The credit is 10% of the cost of the charging station, up to $2,500 per station. The credit can be carried forward for up to three years starting January 1, 2025.
New York provides an income tax credit for businesses installing EV charging stations, including at multifamily properties, through December 31, 2025. The credit covers up to 50% of the cost of equipment and installation, with a maximum of $10,000 per station.
Federal Tax Credits for Multifamily EV Charging
The 30C tax credit is a federal incentive worth up to $100,000 per charger for businesses, including multifamily properties, for installations in eligible census tracts. This tax credit can stack with utility rebates.
Install Your Multifamily EV Charging Projects with Qmerit
When it comes to hiring a qualified electrical contractor with EV charger installation experience, Qmerit makes it easy. Offering coast-to-coast coverage, turnkey solutions that streamline your project, competitive pricing and solutions that meet your needs and budget, and the largest network of certified electrical contractors in North America, we’ve built our reputation on providing the highest level of quality and service—because Qmerit means Electrification Made Easy™.
With over 770,000 EV charging stations installed and an industry-leading customer satisfaction record, no one is more experienced or recommended than Qmerit’s network of electrical contractors.
Contact Qmerit today for seamless multifamily EV charging solutions at your property and discover why we’re North America’s most trusted service provider for EV charging installation and other electrification services!
