August 18th (Effortless Electric) – The Maryland Energy Administration has announced its new Fiscal Year 2024 (FY24) Electric Vehicle Supply Equipment (EVSE) Rebate Program and is now accepting applications. Applicants who applied in the FY23 cycle or before the launch of the FY23 Rebate Program will be processed first, with all other applications processed in a first-come, first-serve order.
The MEA EVSE Rebate Program provides funding to residential and commercial owners of qualified EV charging equipment to relieve the costs of purchasing and installing the equipment. The Program is a part of Maryland’s goal of reducing the financial burden of purchasing EV charging equipment and speeding up the rate of EV adoption throughout the state to meet Maryland’s greenhouse gas reduction goals.
The program budget for FY24 is $2.5M. $1.5M has been allocated to residential applicants and $1.0M for commercial applicants. Owners of residential qualifying EV chargers will be eligible for a rebate of 50% of the total project costs, up to $700. Qualifying commercial EV charger installations will also be eligible for a rebate of 50% of the total project cost, up to $5,000. The program’s total budget of $2.5M is significantly larger than last year’s budget of $1.8M, meaning more applicants will receive this rebate. Commercial applicants may submit applications for multiple projects and can receive a maximum of $125,000 in total rebates. Residential applicants are limited to one rebate per resident.
However, these new rebate amounts only apply to applications received on or after July 1, 2023. Applications received before that date will be processed for FY23 rebate amounts, which is 40% of total project costs for residential and commercial installations, up to $700 and $5,000 respectively. In addition, after April 1, 2023, these initial funding allocations for both residential and commercial EVSE applications will be removed. From there, all applications for both commercial and residential projects will be processed together chronologically until the remaining budget for the FY24 EVSE Rebate Program is exhausted.
EVSE rebates will not be given to level 1 chargers purchased on or after October 1, 2023.
MEA has also stated in their announcement that they are “investigating options to provide additional benefits for EVSE installations in MUDs within low-to-moderate-income, overburdened, and/or underserved communities.”
Click here to learn more about the requirements of the EVSE Charger Rebate Program and how to apply.
There are many statewide and federal rebates and incentives for purchasing an EV or EV charger in addition to the Maryland EVSE Charger Rebate Program. If you are interested in installing an EV charger for your home, townhome, or business in Northern Virginia or the metro Maryland area, contact Effortless Electric today!