Duke Energy's North Carolina Charger Prep Credit program reduces cost to install EV chargers in homes, businesses

Rhea-AI Summary

Duke Energy (NYSE: DUK) has launched a Charger Prep Credit program to support customers in North Carolina with costs up to $1,133 for upgrading electrical infrastructure for EV chargers. This initiative aligns with National Drive Electric Week, running from Sept. 23 to Oct. 2, aimed at promoting electric vehicle adoption. Customers can choose contractors for the upgrades, excluding charger hardware costs. This move is part of Duke Energy's efforts to facilitate EV accessibility while committing to a clean energy transition by targeting net-zero carbon emissions by 2050.

Positive

• Launch of Charger Prep Credit program providing up to $1,133 for EV charger upgrades.
• Supports local customers in adopting electric vehicles.
• Aligns with North Carolina's Clean Transportation Plan.
• Duke Energy commits to a clean energy transition with net-zero carbon emissions goal by 2050.

Negative

• None.

• One-time credit helps customers cover the cost of preparing their home for an electric vehicle charger.
• National Drive Electric Week (NDEW) is Sept. 23 – Oct. 2.

CHARLOTTE, N.C., Sept. 26, 2022 /PRNewswire/ -- Duke Energy (NYSE: DUK) is helping defray the cost of electrical upgrades for customers in North Carolina who want to install electric vehicle (EV) chargers at their home or business. The company's Charger Prep Credit program helps cover the cost of EV charging infrastructure by providing a credit for residential or commercial customers in the state who install Level 2 or higher-powered chargers. The one-time credit provided by Duke Energy to cover electrical upgrades for EV charging infrastructure is up to $1,133 per household.

"EVs and zero-carbon transportation should be accessible to everyone, so Duke Energy is helping remove financial barriers to EVs for our North Carolina customers and simplifying the process to go electric," said Stephen De May, Duke Energy's North Carolina president. "Steps like this, in addition to key grid infrastructure investments we're making in support of EVs, will support North Carolina's Clean Transportation Plan and help meet state emissions reduction goals."

As part of the Charger Prep Credit program, residential and non-residential customers can choose their own contractor to perform the improvements in their home or business to prepare for an EV charger. Residential customers also have the option to use a Duke Energy-approved contractor. Customers who have already had the preparation work completed may also be eligible to receive a credit if the work was completed within the last 120 days of their final invoice or approved permit.

Upgrades covered by the credit include the installation of wiring and other upgrades that support EV charging – such as new electric plug-in outlets for a garage or other electrical wiring improvements – but would exclude the cost of the charging station hardware and software (if needed). Non-residential customers' credit amounts vary and are based on several factors including charger type, total kW and whether service upgrades are needed.

Knowledge is power: what to know about EV charging

EV chargers come in three different levels –  Level 1, Level 2 and DC Fast (DCFC). While EVs can be charged with regular household outlets (Level 1) for the typical daily commute, many EV drivers choose to install a faster 220- to 240-volt (Level 2) outlet. A qualified electrician can assess whether an electrical panel has capacity for a Level 2 charger and if upgrades are needed.

Most businesses or commercial entities choose to install either Level 2 or DCFC chargers. There are ranges of power output for both Level 2 and DCFC. The higher the level of charging, the faster the speed of the charging process.

As customers make plans to prepare their home or business for an electric charger, they should take several factors into consideration. Chargers over 40 amps need to be hardwired and cannot use a dryer plug. Customers should also check with their vehicle manufacturer to ensure that they choose the correct charger for their vehicle's battery.

A charged path forward

The week of Sept. 23 – Oct. 2 marks National Drive Electric Week (NDEW), a nationwide celebration to raise awareness of the many benefits of all-electric and plug-in hybrid cars, trucks, motorcycles and more. Coordinated by Plug In America and supported by the National Electric Highway Coalition (NEHC), NDEW educates consumers about the benefits of EVs and offers in-person across the country related to transportation electrification.

"Duke Energy is investing in an electric future, a modernized power grid, and delivering innovative and reliable energy solutions for our customers as we support the growing U.S. adoption of EVs," said Cory Gordon, Duke Energy's director of transportation electrification. "We will continue to work with stakeholders and other interested parties to actively pursue near-term programs that benefit all Duke Energy customers and make a meaningful environmental impact."

Duke Energy

Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. Its electric utilities serve 8.2 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 50,000 megawatts of energy capacity. Its natural gas unit serves 1.6 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The company employs 28,000 people.

Duke Energy is executing an aggressive clean energy transition to achieve its goals of net-zero methane emissions from its natural gas business and at least a 50% carbon reduction from electric generation by 2030 and net-zero carbon emissions by 2050. The 2050 net-zero goals also include Scope 2 and certain Scope 3 emissions. In addition, the company is investing in major electric grid enhancements and energy storage, and exploring zero-emission power generation technologies such as hydrogen and advanced nuclear.

Duke Energy was named to Fortune's 2022 "World's Most Admired Companies" list and Forbes' "America's Best Employers" list. More information is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos and videos. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.

Duke Energy media contact: Logan Kureczka
800.559.3853

 

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SOURCE Duke Energy

FAQ

What is the Charger Prep Credit program by Duke Energy?

The Charger Prep Credit program helps North Carolina customers cover costs up to $1,133 for electrical upgrades needed to install EV chargers.

When is National Drive Electric Week 2022?

National Drive Electric Week runs from September 23 to October 2, 2022.

How much credit can customers receive for EV charger installation in North Carolina?

Customers can receive a one-time credit of up to $1,133 for electrical upgrades related to EV charger installation.

Who is eligible for Duke Energy's Charger Prep Credit?

Both residential and non-residential customers in North Carolina are eligible for the Charger Prep Credit program.

What are the environmental goals of Duke Energy?

Duke Energy aims for net-zero carbon emissions by 2050 and a 50% reduction in carbon from electric generation by 2030.