As our country drives toward an all-electric future, businesses everywhere have taken advantage of federal tax credits that can help offset the costs of installing electric vehicle infrastructure and equipment. While those credits have been extended into 2021, they are not the only way for your business to maximize your investment.
For businesses based in Portland, Oregon, EV incentives are available at both the state and local level, and are among the most attractive and encompassing benefits in the entire country. Here’s how to claim them, and how EV Connect can help you navigate the marketplace and find a money-saving solution for your company.
The first step to save on your EV investment is to ensure you claim the federal tax credits available to businesses that purchase, install and maintain EV equipment on their property. For Portland-based businesses, however, the next step is to take advantage of the Oregon EV incentives at the state and local level. The Rose City is a leader in eco-friendly efforts, and, as such, encourages both residents and businesses to adopt EV through a series of programs, rebates and other cost-saving measures.
The Oregon Business Energy Tax Credits offer two ways to save on EV equipment in conjunction with federal tax credits. For businesses looking to purchase an EV, the federal credit will offset up to $7,500, while the state will cover up to 35% of the incremental cost between a gas-powered vehicle and an EV. For EV infrastructure, the federal tax credit covers up to 50% of the costs of installing EV charging stations, but maxes out at $50,000. Thankfully, the Business Energy Tax Credit offers an additional credit of up to 35% of eligible costs which can help your business save even more on the upfront costs of a substantial investment.
In addition to state tax rebates, Oregon EV incentives include partnerships with local utilities and energy providers that can reduce both the upfront and long-term costs of installing and maintaining EV charging equipment.
For example, Portland General Electric offers resources and even free, one-on-one support for businesses that are looking to upgrade their fleets to electric while the Business EV Charging Program provides non-residential customers who install qualified Level 2 electric vehicle chargers a rebate of $500 per port, or up to $2,300 per port for income-eligible multifamily properties.
Pacific Power (another energy provider for the state) offers their own set of rebates including electric transportation grants and awards that will cover up to 100% of eligible costs of studying, planning, promoting or deploying electric vehicle technology and projects.
Beyond the state and local tax credits and energy provider tips, available Oregon EV incentives include discounts on specific EV brands and rebates for charging costs with more on the way as more private companies work with the state government to help promote the advancement of electric fueling.
EV Connect has extensive experience with Oregon’s wide array of EV credits, rebates and incentives. As an approved vendor and thanks to our partnerships with Oregon government agencies and local utility companies, EV Connect will make sure your business makes the smartest investment possible. Our expert team will guide you through the qualification process, as well as help your company with bespoke solutions for equipment installation and strategy.
Finally, EV Connect’s innovative software will empower your business to maintain your fleet and equipment, as well as manage charging costs — all while providing comprehensive technical support to ensure your EV stations operate at peak performance for years to come.
References:
https://www.portlandoregon.gov/shared/cfm/image.cfm?id=309915
https://portlandgeneral.com/energy-choices/electric-vehicles-charging/ev-charging-pilot-program-business
https://www.evconnect.com/oregon
