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Managers of commercial businesses and multi-unit dwellings are increasingly providing plug-in electric vehicle (PEV) charging stations to take advantage of the convenience and affordability of electric vehicles and to demonstrate their commitment to the environment. I&M has incentive programs to support Level 2 (240V) PEV charging in each of the sectors discussed below.
Existing small-commercial customers who average less than 4,500 kWh per month of electricity are eligible for $500 incentive and a discounted off-peak rate up to a 40% reduction from our standard rate.
To take advantage of this incentive you’ll need a submeter from I&M between your electrical panel and PEV Level 2 (240V) charger and an Indiana-registered employee-owned or company PEV. Public Level 2 PEV chargers not tied to an Indiana-registered PEV are not eligible.
There is no fee to sign up. I&M will provide more information and detailed steps on the process once you apply. To be eligible for the $500 incentive and off-peak charging rate, all applications need to be completed by 12/31/2024.
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Commercial and industrial and multi-unit dwellings (MUD) customers not eligible for the small commercial business incentive can take advantage of a separate I&M PEV incentive program for Level 2 (240V) PEV charging for employees, fleet and MUD residents. Public Level 2 PEV chargers not tied to an Indiana-registered PEV are not eligible.
Under this program, I&M pays $250 per charging port if you can provide power to eligible Level 2 PEV chargers from behind their own electrical panels.
If a customer needs new electrical service from I&M for Level 2 PEV charging, I&M still can pay the customer $250 per charging port if I&M’s anticipated revenue from the charging meets I&M’s state approved criteria for adding new service without customer investment.
If I&M’s anticipated revenue does not meet our standard state approved criteria, we can extend the timeline to 5-years in lieu of the $250 per port payment to avoid customer investment.
Off-Peak rates available specifically for your Level 2 PEV charging apply from 11pm-6am every day.
No. You can charge your EV any time, same as before. However, you’ll get the benefit of the lower rate only during Off-Peak hours.
No. Customers eligible for this incentive may not operate distributed generation resources or participate in the Company’s Net Metering Service Rider or new Excess Distributed Generation Rider.
You’ll need a submeter base and a submeter. If eligible, the submeter is provided to you free of charge. You are responsible for hiring a licensed electrician to install the Level 2 PEV charger and a submeter base outdoors between your electrical panel and charger. Once you provide local building inspection approval to I&M, we install the submeter.
Commercial and industrial or MUD customers not eligible for the small commercial business incentive can still take advantage of I&M’s per $250 per port or the extended 5-year timeline in lieu of the $250 per port payment to avoid customer investment options under our state-approved pilot program incentive.
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