Business and Public Sector Electric Vehicle Rebate
Sustainability and efficiency are key driving forces for businesses and public-sector organizations. Transitioning to electric vehicles (EVs) is a major step toward reducing carbon footprints while embracing innovative technologies. One exciting opportunity to make that shift more affordable is through the Business & Public Sector Electric Vehicle Rebate Program.
This program helps businesses, municipalities, and other public entities upgrade their fleets to electric vehicles, offering financial incentives that reduce upfront costs and foster environmental responsibility. At Palmen Chrysler Dodge Jeep Ram of Racine, we can help you better understand how this program works and how it can benefit you as a Racine, Milwaukee, and Kenosha, WI driver.
What is the Business & Public Sector Electric Vehicle Rebate Program?
The Business & Public Sector Electric Vehicle Rebate Program is designed to support organizations in adopting electric vehicles.
The program is available to business and public sector customers, including organizations with ComEd's commercial account. Third-party logistics providers serving ComEd customers are also eligible, provided specific documentation and agreements are in place.
Rebates are available for various types of vehicles, classified by weight:
- Light-duty Vehicles (Class 1-2): $5,000 rebate
- Medium-duty Vehicles (Class 3-6): $20,000 rebate
- Heavy-duty Vehicles (Class 7-8): $50,000 rebate Transit Buses (>=30') and School Buses (>=35'): $80,000 to $120,000 rebate
The program offers rebates for purchasing or leasing qualifying EVs and charging equipment, helping reduce the financial barrier to transitioning away from traditional gasoline-powered vehicles. It also aims to promote cleaner air, energy efficiency, and sustainable technologies in businesses and public service operations.
Which Vehicles Are Eligible?
The program offers rebates for new, pre-owned, and repowered battery-electric vehicles (BEVs). However, vehicles must meet specific criteria to qualify for rebates:
- Vehicle Type: Eligible vehicles must be fully electric. Plug-in hybrid vehicles, hydrogen fuel cell vehicles, and hybrid vehicles are not eligible for this program.
- Registration: Vehicles must be registered in Illinois for on-road use, strictly for business purposes.
- One Rebate Per Vehicle: Each unique vehicle VIN is eligible for only one rebate, regardless of whether the vehicle is new, pre-owned, or repowered.
- Leasing: Leased vehicles qualify if the lease term is at least 36 months.
Rebates are available for different vehicle classes, from light-duty to heavy-duty vehicles, as well as both transit and school buses. If your organization uses a third-party logistics provider to manage transportation services, they may apply for the rebate on your behalf as long as the proper documentation is provided.
How to Apply
First, verify that your organization is eligible by ensuring you have a commercial account with ComEd and that your selected vehicle qualifies under the program's guidelines. Next, choose an electric vehicle that meets the criteria and confirm it falls within the correct vehicle class to secure the appropriate rebate amount, which can be either a new or pre-owned vehicle.
Then, complete and submit the online application, including all required documentation, such as proof of purchase or lease and any supporting materials for EV charging infrastructure, if applicable.
Once your application is reviewed and approved, you'll receive your rebate either as a check or a credit, which will help reduce the overall cost of your electric vehicle or associated charging equipment.
If you have already purchased, you can still use the rebate by applying for it through the post-purchase process. Simply gather proof of purchase or lease and any required documentation, and complete the rebate application online. You can still qualify if your vehicle meets the program's eligibility criteria and hasn't already received a rebate.
Point-of-Sale Rebate Process
The program offers point-of-sale rebates for businesses and public sector customers purchasing eligible vehicles. Here's a step-by-step look at the process:
1.Participating Dealers:
Dealers and vehicle manufacturers must be registered with the program to offer point-of-sale rebates.
2.Coordinate with Dealers:
Fleet vehicle operators (businesses or public agencies) can work with participating dealers to purchase qualifying EVs.
3.Voucher Application:
The dealer submits a voucher application to the program administrator. Once approved, the rebate amount is applied directly to the cost of the vehicle, reducing the purchase price.
4.Vehicle Delivery:
The vehicle must be delivered within 12 months of voucher approval or before the program's closure on December 31, 2025.
5.Reimbursement:
The dealer submits the required documentation to the program administrator within 90 days of delivery to receive reimbursement for the rebate amount.
This process streamlines the rebate application, making it easier for organizations to enjoy immediate savings on their new electric vehicles.
Contact Us for More Information
The Business & Public Sector Electric Vehicle Rebate Program is an incredible opportunity for businesses and public entities to transition to cleaner, more sustainable transportation. To learn more about the program, contact the expert team at Palmen CDJR of Racine, serving Racine, Milwaukee, and Kenosha, Wisconsin.