ComEd Announces $100 Million in EV Rebates Now Available to Boost Charging and EV Adoption Across Northern Illinois

Rhea-AI Summary

ComEd, a unit of Exelon (NASDAQ: EXC), announced $100 million in EV rebates for 2025 at the Chicago Auto Show to promote electric vehicle adoption across northern Illinois. The funding includes:

- $53 million for business and public sector EV fleet purchases
- $38 million for infrastructure upgrades for public/private charging stations
- $9 million for residential customers (up to $3,750 per charger)

This follows ComEd's 2024 investment of $90 million. The initiative supports Illinois' Climate and Equitable Jobs Act goal of 1 million EVs by 2030. Over half the funds are reserved for low-income customers and equity-eligible communities. To date, ComEd has funded projects in 300+ ZIP codes, supporting nearly 3,500 charging ports and 200+ fleet vehicles. Currently, there are 126,000 EVs in Illinois, with 112,000 in northern Illinois.

Positive

• Secured $100 million funding for EV initiatives in 2025
• Strong adoption metrics with 112,000 EVs in northern Illinois service area
• Successfully funded 3,500 charging ports and 200+ fleet vehicles to date
• Established partnerships with 70+ auto dealers and 84 certified installation contractors

Negative

• None.

Insights

Energy Infrastructure & Sustainability Analyst

This $100 million investment program represents a strategic positioning by ComEd and parent company Exelon in the rapidly evolving utility landscape. The initiative creates multiple revenue opportunities:

• Direct grid utilization increases through EV charging, potentially driving higher electricity demand and distribution revenues
• Infrastructure modernization opportunities that can be added to the rate base
• Regulatory compliance benefits under CEJA, strengthening ComEd's position with Illinois regulators

The program's success metrics from 2024 - with over 3,500 charging ports and 200+ fleet vehicles deployed - demonstrate strong execution capability and market demand. The equity-focused distribution model, allocating over 50% of funds to underserved communities, aligns with regulatory priorities and ESG mandates, potentially reducing regulatory risk.

The strategic allocation across segments ($53M for fleet purchases, $38M for infrastructure upgrades, $9M for residential) reflects a sophisticated understanding of market dynamics. The focus on fleet electrification particularly targets a high-growth, high-utilization segment that can drive consistent electricity demand.

The establishment of an EV Service Provider Network with 84 certified contractors creates a scalable implementation framework while supporting local economic development. This ecosystem approach, combined with the EV Readiness program reaching 41 local governments, positions ComEd to capture long-term value from the EV transition while managing implementation risks.

ComEd expands funding in 2025 to help remove barriers to EV adoption and to boost EV charging availability throughout the region

CHICAGO--(BUSINESS WIRE)-- ComEd today joined a variety of local and industry stakeholders at the annual Chicago Auto Show to announce that it has made $100 million in rebates available to help more customers take steps toward electric vehicles (EVs) in 2025. To reduce upfront cost barriers to EVs, the rebates cover three distinct programs: residential EV charger and installation costs, all-electric fleet vehicles and business and public sector make ready charging infrastructure. ComEd EV investments are available for residential, business and public sector customers, and are designed to equitably provide funding for communities to promote the widespread adoption of EVs in Illinois.

Customers can apply now for a variety of EV rebates at www.comed.com/clean.

“ComEd is focused on ensuring that not only is the grid is equipped for increased electrification, but that our customers and communities have the support needed to navigate the transition to EVs and the benefits they provide for customers as well as the environment,” said Melissa Washington, SVP of Customer Operations and Strategic Initiatives at ComEd. “Building on the success of last year’s rebate programs, ComEd is pleased to launch another $100M that will help customers take steps toward adding at-home L2 charging, fleet EV projects for fleets of any size, and to catalyze more investment in building a network of regional public and private charging to accommodate the growing demand for EVs in northern Illinois.”

Through its 2025 investments, ComEd is making $53 million in rebates available for business and public sector EV fleet purchases, including small businesses pursuing as few as one electric vehicle for commercial use, regardless of small-, medium- or heavy-duty weight class size; and nearly $38 million in rebates available to support infrastructure “make ready” upgrades needed for the installation of public and private Level 2 (L2) and Level 3 (DCFC) charging stations for non-residential customers. Residential customers will have access to nearly $9 million in funding to reduce the upfront costs of purchase and installation of adding at-home L2 charging—with rebates of up to $3,750 per charger.

The funding announcement follows last year’s first-of-its kind announcement to fund EV projects, with ComEd launching nearly $90 million for customers in 2024. Both 2024 and 2025 programs are made available as part of a state mandated program to help more customers take steps toward EVs, a result of the passage of Illinois’ landmark Climate and Equitable Jobs Act (CEJA), which calls for having 1 million EVs on the roads by 2030.

“The ComEd rebates that support EV adoption and accelerate the expansion of charging infrastructure are pivotal in driving a sustainable future,” said Megha Lakhchaura State EV Officer of Illinois. “These initiatives will empower consumers to make cleaner choices and support the transition to zero emission transportation.”

All ComEd EV rebate programs put equity front and center, reserving more than half of the total funds for low-income customers and equity-eligible communities, and by offering higher rebates exclusively for low-income customers and for those located in or primarily serving low-income and equity-eligible communities. While EVs provide a wide range of benefits – from reducing emissions to generating fuel cost savings, to spurring economic development – the positive impacts on air quality benefit all communities, especially those most historically impacted by pollution.

“ComEd’s CEJA-enabled programs to get more zero-emission vehicles moving are critical for cutting health-damaging air pollution, particularly in vulnerable communities that face a higher burden from lung disease,” said Brian Urbaszewski, Director of Environmental Health Programs at Respiratory Health Association. “We encourage all eligible applicants to take advantage of this great economic opportunity that will benefit both them and their neighbors.”

Since launching its first ever EV rebates last year, ComEd has seen a significant increase in customer EV projects. To date, ComEd has funded EV expansion projects in more than 300 ZIP codes, helping to propel nearly 3,500 residential and commercial charging L2 and DCFC ports, public and private, as well as the addition of over 200 new and pre-owned EV fleet vehicles for municipal, business customers and school districts. More than half of the funds have been directed to low-income customers and to propel projects in equity-eligible communities.

“We are pleased to see that ComEd’s rebate offers for medium- and heavy-duty vehicles, including electric school buses, are underway and picking up steam,” said Susan Mudd, Senior Policy Advocate at Environmental Law & Policy Center. “Getting kids out of dirty diesel buses and communities having fewer diesel trucks and buses passing through them every day will help kids and adult residents’ lungs and health. With the new federal administration’s threats to numerous air quality programs, ComEd’s program is especially critical, giving school districts the opportunity to provide kids a clean ride to school and others a lifeline to modernize and clean up their vehicle fleets.”

ComEd’s EV investments have coincided with increasing the rate of adoption of EVs in Illinois, with more than 126,000 EVs on state roads today, and the vast majority, more than 112,000 of them, driving in northern Illinois. In addition to funding programs, ComEd facilitates a number of initiatives to support customers in moving toward EVs, and to help communities achieve their own local and regional transportation net-zero emissions goals.

“On behalf of the Chicagoland new-car dealers, we applaud ComEd for propelling the widespread adoption of electrified vehicles in Illinois,” said Chicago Automobile Trade Association President Jennifer Morand. “As EV adoption continues to grow in Illinois, local new-car dealers are committed to supporting the revolution by offering a variety of all-electric, hybrid and plug-in hybrid vehicles to consumers as well as provide much needed education.”

ComEd has teamed up with the Metropolitan Mayors Caucus in developing a first of its kind training for municipalities and local governments, called the EV Readiness program, helping them to create local ordinances, safety, and infrastructure plans designed to accommodate the growing demand for EVs in their communities. Since that time more than 41 local governments in northern Illinois have been reached by the program, receiving assistance with creating local policy to ensure safe and effective regional transportation electrification.

“ComEd’s support of our EV Readiness Program and commitment to expanding EV adoption and infrastructure has been a game-changes for the communities we serve,” said Kevin Burns, Metropolitan Mayors Caucus Chairman of the Environment and Energy Committee and Immediate Past Executive Board Chairman. “By supporting our local initiatives to advance policies and build infrastructure for a sustainable future, ComEd’s investments will play a key role in reducing emissions, improving air quality and ensuring an equitable transition to clean transportation across northern Illinois.”

To ease the customer experience, ComEd offers Fleet Electrification Assessments, along with a make ready rebate reservation program, giving charging project developers certainty on available funding awaiting when they complete their projects, created a fleet EV Point of Sale program in partnership with more than 70 area auto dealers and manufacturers to qualify for fleet rebates for new and pre-owned vehicles at the time of purchase and established an EV Service Provider Network, comprised of over 84 local businesses certified to install EV charging infrastructure, providing customers a go-to list of contractors to call when they are planning to add charging infrastructure.

“Being a part of the ComEd Energy Efficiency program and the Electric Vehicle Service Providers network has been a blessing and life changing experience both personally and professionally,” said Ed West, president and owner of Veterans Energy. “This partnership has been critical to the growth of my business, and I look forward to the Veterans Energy team helping more EV-interested customers in northern Illinois qualify for expanded ComEd EV rebates that will help build their projects and go green in the coming year.”

To review eligibility requirements and to apply for EV funding, customers are encouraged to visit ComEd’s website.

ComEd is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), a Fortune 200 energy company serving more than 10.5 million electricity and natural gas customers – the largest number of customers in the U.S. ComEd powers the lives of more than 4 million customers across northern Illinois, or 70 percent of the state's population. For more information visit ComEd.com, and connect with the company on Facebook, Instagram, LinkedIn, X, and YouTube.

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ComEd Media Relations

312-394-3500

Source: ComEd

FAQ

How much is ComEd investing in EV rebates for 2025 (EXC)?

ComEd is investing $100 million in EV rebates for 2025, including $53 million for fleet purchases, $38 million for infrastructure upgrades, and $9 million for residential customers.

What is the maximum residential EV charger rebate available from ComEd (EXC)?

ComEd offers residential customers rebates of up to $3,750 per charger for purchase and installation of at-home Level 2 charging systems.

How many EVs are currently in ComEd's northern Illinois service area (EXC)?

There are currently 112,000 EVs in ComEd's northern Illinois service area, out of 126,000 total EVs in the state.

How many charging ports has ComEd (EXC) funded through its rebate programs?

ComEd has funded nearly 3,500 residential and commercial charging ports (Level 2 and DCFC) through its rebate programs.

What percentage of ComEd's EV rebates are reserved for low-income communities (EXC)?

More than half of ComEd's total EV rebate funds are reserved for low-income customers and equity-eligible communities.