New Incentives for Car-Charging Stations

The carrot. Now more than ever, electrification is a word that should be in the vocabulary of every co-op and condo board member. Joining the nationwide shift away from fossil fuels to the electrical powering of just about everything, including motor vehicles, New York State has just released major new incentives that will cover up to 100% of costs for EV charging stations at both public and private facilities, including garages and outdoor parking areas at

co-ops and condos.

The source. “This is a big deal,” says Michael Scorrano, the managing director at the En-Power Group, a state-approved engineering and energy infrastructure company that can secure the incentives and oversee the installation of all software and hardware at an EV charging station. The incentives come from two sources: Con Edison’s EV Make-Ready Program, which covers infrastructure costs, including wiring; and the New York State Energy Research & Development Authority’s Charge Ready NY Program, which pays for the charging ports.

Sliding scale. “The problem for multifamily buildings that have EV charging stations is that they need to be able to recoup the cost of the service,” Scorrano says. The incentives in the new state program cover from 50% to 100% of the infrastructure and installation costs. The level of incentives depends on such factors as whether the charging facility will be public or private, if it contains generic or proprietary chargers (such as those required for Tesla vehicles), and if the facility is located within one mile of a “disadvantaged” neighborhood. According to Con Edison maps, virtually all of New York City meets that last criterion.

Bonus reward. As Scorrano points out, the incentives are designed to encourage more drivers to buy electric cars. The state wants 850,000 “zero-emission vehicles” on the road by the end of 2025 (there were about 17,000 in 2019, according to the Albany Business Review). Legislation introduced in January would offer a tax credit to co-ops and condos for installing EV charging stations, which could mean an even bigger payoff for boards.