ComEd Announces New Initiative to Award Instant Discounts for Electric Fleet Vehicles in Northern Illinois
ComEd announced the Point of Purchase initiative at the Chicago Drives Electric event, offering instant discounts to qualifying business and public sector customers for electric fleet vehicles. This initiative, part of ComEd's nearly $90 million in EV funding for 2024, aims to accelerate EV fleet adoption in northern Illinois. The program involves collaboration with over 30 auto dealerships and various EV manufacturers.
The initiative builds on ComEd's existing EV rebate program, which reserves nearly half of all funds for low-income customers and those in equity investment eligible communities. Rebates range from $5,000 to $180,000 depending on vehicle type. This effort supports Illinois' goal of putting 1 million EVs on the road by 2030, as outlined in the Climate and Equitable Jobs Act (CEJA).
ComEd ha annunciato l'iniziativa Point of Purchase all'evento Chicago Drives Electric, offrendo sconti immediati ai clienti aziendali e del settore pubblico qualificati per veicoli elettrici di flotta. Questa iniziativa, parte di quasi 90 milioni di dollari di finanziamenti per veicoli elettrici nel 2024, mira ad accelerare l'adozione dei veicoli elettrici in Illinois settentrionale. Il programma coinvolge la collaborazione con oltre 30 concessionarie auto e vari produttori di veicoli elettrici.
L'iniziativa si basa sul programma di rimborso per veicoli elettrici esistente di ComEd, che riserva quasi la metà dei fondi per clienti a basso reddito e quelli delle comunità idonee all'investimento in equità. I rimborsi variano da 5.000 a 180.000 dollari a seconda del tipo di veicolo. Questo sforzo supporta l'obiettivo dell'Illinois di mettere 1 milione di veicoli elettrici sulla strada entro il 2030, come delineato nella Climate and Equitable Jobs Act (CEJA).
ComEd anunció la iniciativa Point of Purchase en el evento Chicago Drives Electric, ofreciendo descuentos instantáneos a clientes empresariales y del sector público que califiquen para vehículos de flota eléctricos. Esta iniciativa, parte de casi 90 millones de dólares en financiamiento para vehículos eléctricos en 2024, busca acelerar la adopción de flotas de vehículos eléctricos en el norte de Illinois. El programa implica la colaboración con más de 30 concesionarios de automóviles y varios fabricantes de vehículos eléctricos.
La iniciativa se basa en el programa de reembolsos para vehículos eléctricos existente de ComEd, que reserva casi la mitad de todos los fondos para clientes de bajos ingresos y aquellos en comunidades elegibles para inversiones en equidad. Los reembolsos oscilan entre 5,000 y 180,000 dólares, dependiendo del tipo de vehículo. Este esfuerzo apoya el objetivo de Illinois de poner 1 millón de vehículos eléctricos en la carretera para 2030, como se detalla en la Climate and Equitable Jobs Act (CEJA).
ComEd는 시카고 드라이브스 일렉트릭 행사에서 구매 시점 이니셔티브를 발표하며, 전기 플릿 차량을 위한 자격을 갖춘 기업 및 공공 부문 고객에게 즉각적인 할인을 제공합니다. 이 이니셔티브는 ComEd의 2024년 전기차 자금 9000만 달러의 일환으로, 북부 일리노이에서 전기차 플릿 채택을 가속화하는 것을 목표로 합니다. 이 프로그램은 30개 이상의 자동차 대리점과 다양한 전기차 제조업체와 협력하여 진행됩니다.
이 이니셔티브는 ComEd의 기존 전기차 환급 프로그램을 기반으로 하며, 이 프로그램은 저소득 고객과 형평성 투자 적격 커뮤니티에 거의 절반의 자금을 예약하고 있습니다. 환급액은 차량 종류에 따라 5,000달러에서 180,000달러까지 다양합니다. 이 노력은 2030년까지 100만 대의 전기차를 도로에 배치하겠다는 일리노이주 목표를 지원하며, 이는 기후 및 형평성 직업법(CEJA)에 명시되어 있습니다.
ComEd a annoncé l'initiative Point of Purchase lors de l'événement Chicago Drives Electric, offrant des remises immédiates aux clients d'entreprises et du secteur public éligibles pour des véhicules de flotte électriques. Cette initiative, faisant partie des près de 90 millions de dollars de financements pour véhicules électriques en 2024, vise à accélérer l'adoption des flottes de véhicules électriques dans le nord de l'Illinois. Le programme implique une collaboration avec plus de 30 concessionnaires automobiles et divers fabricants de véhicules électriques.
L'initiative s'appuie sur le programme de remboursement pour véhicules électriques existant de ComEd, qui réserve près de la moitié de tous les fonds pour les clients à faible revenu et ceux vivant dans des communautés éligibles aux investissements en équité. Les remboursements varient de 5 000 à 180 000 dollars selon le type de véhicule. Cet effort soutient l'objectif de l'Illinois de placer 1 million de véhicules électriques sur la route d'ici 2030, comme le stipule la Climate and Equitable Jobs Act (CEJA).
ComEd hat die Point of Purchase-Initiative beim Chicago Drives Electric-Event angekündigt und bietet qualifizierten Geschäfts- und öffentlichen Kunden Sofortrabatte für elektrische Flottenfahrzeuge an. Diese Initiative, Teil von ComEds fast 90 Millionen Dollar an EV-Finanzierung für 2024, zielt darauf ab, die Anpassung von EV-Flotten im nördlichen Illinois zu beschleunigen. Das Programm beinhaltet die Zusammenarbeit mit über 30 Autohändlern und verschiedenen EV-Herstellern.
Die Initiative baut auf ComEds bestehendem EV-Rückerstattungsprogramm auf, das fast die Hälfte aller Mittel für geringverdiener Kunden und diejenigen in Gemeinschaften, die für Investments in Gleichheit in Frage kommen, reserviert. Die Rückerstattungen reichen von 5.000 bis 180.000 Dollar, je nach Fahrzeugtyp. Diese Anstrengung unterstützt das Ziel von Illinois, bis 2030 eine Million EVs auf die Straße zu bringen, wie im Klima- und Gleichwertige Arbeitsgesetze (CEJA) dargelegt.
- ComEd is investing nearly $90 million in EV funding for 2024
- The Point of Purchase initiative offers instant discounts for electric fleet vehicles
- Rebates range from $5,000 to $180,000 depending on vehicle type
- The program involves collaboration with over 30 auto dealerships and various EV manufacturers
- ComEd's EV rebate programs have incentivized over 2,000 charging ports and funded more than 100 electric fleet vehicles
- None.
Insights
ComEd's new Point of Purchase initiative is a significant step towards accelerating EV adoption in northern Illinois. By offering instant discounts on electric fleet vehicles, ComEd is addressing one of the primary barriers to EV adoption: upfront costs. This program, part of a
The initiative aligns with Illinois' goal of 1 million EVs on the road by 2030, as outlined in the Climate and Equitable Jobs Act. By targeting fleet vehicles, including heavy-duty and public transit options, ComEd is addressing a significant source of emissions. The focus on equity, with higher rebates for low-income customers and those in eligible communities, is particularly noteworthy.
However, the long-term impact on ComEd's financials and grid infrastructure remains to be seen. While this initiative may increase electricity demand, it will also require significant investment in charging infrastructure and grid upgrades. Investors should monitor how this program affects ComEd's operational costs and revenue streams in the coming years.
This initiative represents a pivotal shift in the EV market dynamics for northern Illinois. By partnering with over 30 auto dealerships and various EV manufacturers, ComEd is creating a robust ecosystem to support EV adoption. The rebates, ranging from
The program's impact on the automotive supply chain could be significant. It may accelerate the transition of fleet vehicles to electric, potentially increasing demand for EV models and components. This could benefit EV manufacturers and suppliers in the short to medium term. However, traditional ICE vehicle manufacturers may face increased pressure to adapt their product lines.
For investors, this signals a growing market opportunity in the EV sector, particularly in fleet vehicles and related infrastructure. Companies involved in EV manufacturing, battery technology and charging infrastructure could see increased demand in the northern Illinois market. However, the sustainability of this demand will depend on the long-term success and potential expansion of such initiatives.
Partnership with EV dealers, manufacturers to accelerate EV fleet adoption, leveraging rebates through ComEd’s nearly
“Making the switch to electric vehicles shouldn’t be a challenge, which is why ComEd is committed to offering resources, tools and programs to remove barriers to EV adoption,” said Melissa Washington, Senior Vice President of Customer Operations at ComEd. “Earlier this year, we launched our EV rebate program to help make it easier for customers to make the switch to electric vehicles. The new Point of Purchase EV rebate initiative, and the ability to provide instant rebates to fleet customers, is a necessary continuation of our original offering to make widespread fleet electrification more achievable.”
The Point of Purchase is the latest initiative by ComEd to help make the transition to EVs accessible and equitable across northern
Through the Point of Purchase initiative, ComEd aims to help additional businesses and public sector customers accelerate their plans to electrify their vehicle fleets—including transitioning to light, medium and heavy duty on road electric vehicles, school buses and public transit buses. Getting more zero-emissions fleet vehicles on the road is an essential component of reducing tailpipe emissions and reaching the state’s goal of putting 1 million EVs on
“Reaching Illinois’ goals for a cleaner transportation future depends in part on collaboration with industry partners, business owners and local governments to advance fleet electrification plans that reduce tailpipe emissions in our communities,” said Megha Lakhchura, EV Officer for the state of
The Point of Purchase initiative was created in response to the high upfront cost barriers facing some small businesses and public sector customers who are looking to adopt all-electric fleets. ComEd’s EV rebates, combined with state and federal EV funds, can help offset the cost of electrifying considerably, as businesses and commercial customers often need to have more clarity on all-in costs at the time of purchase. ComEd, working with auto industry partners, dealers from the area and EV manufacturers—including Lion Electric—came together to solve the issue by creating this initiative, building on existing rebate offerings.
“ComEd’s commitment to advancing transportation electrification and supporting customers through every step of their fleet electrification journey is reinforced by this new initiative. At this juncture in electrification efforts, affordability is crucial, and this program makes it easier for businesses to electrify their fleets,” said Brian Robb, Director of Government Relations at Lion Electric. “As a member of the ComEd Point of Purchase network, we are looking forward to further increasing widespread EV adoption in northern Illinois.”
The first transaction leveraging ComEd’s Point of Purchase EV Fleet Rebate was awarded in late September to a commercial customer of Ron Tirapelli Ford in
“We are proud to be a part of the ComEd Point of Purchase EV Rebate network, because we are committed to taking steps to best meet our customers’ needs,” said Thomas J Conlin II, General Manager at Ron Tirapelli Ford. “While EVs are growing in demand, and there are many resources available to help make these vehicles more affordable for customer, we are very excited to offer our customers instant rebates to help make their fleet electrification goals a reality.”
To obtain an instant rebate through the ComEd Point of Purchase initiative, fleet vehicle operators must coordinate the purchase of an EV through one of the approved dealerships or manufacturers in the ComEd Point of Purchase network. The dealership will then submit the necessary rebate voucher application, enabling the customer to purchase their EV at a reduced rate.
“The fall Chicago Drives Electric event filled a void we originally didn’t realize how badly it existed, bringing much needed EV education to the residents of the Chicagoland area,” said Jennifer Morand, President of Chicago Automobile Trade Association (CATA). “CATA dealerships are committed to supporting the electrification of our industry, and participating in this rebate program is one of many ways we are helping make the adoption of electric fleets a reality for all interested parties.”
“Transportation electrification is a critical strategy the
ComEd EV rebate programs are making a significant impact in helping business and municipal customers adopt EVs. To date, the programs have incentivized over 2,000 residential and non-residential charging ports and helped fund more than 100 fleet electric fleet vehicles now on the road, including over a dozen heavy duty, school bus and transit vehicles.
ComEd is committed to making EV funding accessible to all qualifying customers. In addition to its Point of Purchase initiative, ComEd offers an EV Toolkit, which include EV load capacity maps, fleet electrification assessments for commercial customers, and a new make ready reservation process, helping grant commercial and public sector customers more surety around infrastructure funds available to support EV charging expansion and installations.
ComEd is currently still accepting applications from local dealerships to join this network. To learn more about ComEd’s EV investments, or to explore the list of dealerships and manufacturers in this network, visit www.comed.com/clean.
ComEd is a unit of
View source version on businesswire.com: https://www.businesswire.com/news/home/20241003564166/en/
ComEd Media Relations
312-394-3500
Source: ComEd
FAQ
What is ComEd's Point of Purchase initiative for electric fleet vehicles?
How much funding has ComEd (EXC) allocated for EV rebates in 2024?
What are the rebate amounts offered by ComEd for electric fleet vehicles?
How does ComEd's Point of Purchase initiative support Illinois' EV goals?
