ComEd Toolkit Helps Customers Navigate Purchasing an Electric Vehicle

Rhea-AI Summary

ComEd has launched an EV Toolkit to assist customers considering electric vehicles (EVs). This comprehensive resource offers information on financial incentives, vehicle options, and charging solutions. With the goal of adding 1 million EVs to Illinois roads by 2030, the toolkit helps users compare costs and find public charging stations, emphasizing potential savings of up to $2,481 annually for EV owners. The initiative supports Illinois' transition to clean energy, aligning with the new CEJA law aiming for 100% clean energy by 2050.

Positive

• Launch of the EV Toolkit, providing comprehensive resources for potential EV buyers.
• Potential annual savings of $2,281-$2,481 for EV users compared to gasoline vehicles.
• Illinois aims to add 1 million EVs by 2030, driving demand and adoption.
• Support from the Climate and Equitable Jobs Act for clean energy initiatives.

Negative

• None.

Resource is a one-stop-shop for navigating EV market options, available incentives, rate plans, and charging needs

CHICAGO--(BUSINESS WIRE)-- Because navigating the emergent electric vehicle (EV) market can be intimidating, ComEd has created a one-stop-shop for those considering an EV purchase. The ComEd EV Toolkit provides information on savings, benefits and incentives for the purchase of EVs, along with an overview of EV brands and models, rate options, EV chargers and a public charging station locator. The EV Toolkit empowers customers by providing the latest information and resources to help those considering an EV more easily make the transition.

“As part of our commitment to creating a cleaner and brighter future for every community in northern Illinois, ComEd is working to help customers transition to clean transportation technologies that will help lower emissions and bring cleaner air into our communities,” said Melissa Washington, Chief Customer Officer at ComEd. “Whether you are considering an EV or are already an EV driver, ComEd’s EV Toolkit provides everything you need to know – from available financial incentives to personalized fuel cost savings estimates – to help determine which make and model is right for you.”

Illinois is poised to scale EV adoption considerably in the years ahead, thanks to the passage of state and federal climate action. The new Climate and Equitable Jobs Act (CEJA) law, passed last year, makes Illinois the first state in the Midwest to set a goal of achieving 100 percent clean energy by 2050. CEJA also sets a goal of adding 1 million EVs to Illinois roads by 2030.

To help customers plan as demand for EVs grows, ComEd’s EV Toolkit offers a variety of interactive features for those considering EVs as well as those who have already bought an EV. Customers can use the EV Toolkit to:

• Calculate Cost Savings – get a real-time look at your potential savings from switching from a gas vehicle to an EV by plugging in data on your miles driven, current gas prices and more.
• Review Vehicles and Chargers - peruse a list of EV vehicle brands and models currently available for purchase, and if you have the option to install in-home charging, choose a charger that meets your needs.
• Search Incentives – review a list of available state rebates and federal tax credits, and how to qualify for incentives before you buy.
• New EV Owner – find out about available service rate options to maximize savings based on the time you charge and register your EV with ComEd to help ensure your home is EV ready.
• Public Charging Locator – search a map of over 500 public charging stations in the area, and where to charge for free, according to your zip code.

For those considering an EV, the benefits of new zero-emissions cars provide a range of consumer savings and benefits. This includes significant savings, due to the efficiency of EV engines and their 100 percent use of electricity replacing the high cost of gasoline. EVs also are known to save customers over an equivalent gasoline-powered car, with an estimated $2,281-$2,481 in savings on fuel costs per year for someone driving 15,000 miles annually over an equivalent gasoline-powered car, based on current market and fuel costs in Illinois. The savings to the customer are even higher, when considering avoided operations and maintenance costs over the lifetime of the vehicle.

“As the widespread availability of EVs grows, charging infrastructure matures and government incentives make EVs more affordable, mass consumer education is critical now more than ever before,” said Jennifer Morand, Co-President, Chicago Automobile Trade Association. “The EV customers of yesterday can’t be compared to today’s EV buyer, which is why resources like ComEd’s EV Toolkit are pivotal for this next phase of EV adoption.”

In addition to saving at the pump, customers can look forward to broad environmental improvements generated by the transition to EVs. The American Lung Association estimates that conversion to EVs in Illinois could save a cumulative $3.2 billion by 2050.

“Electric vehicles help to reduce air pollution, which improves local air quality and leads to fewer people with lung disease,” said John Walton, chair, Chicago Area Clean Cities. “With a wide range of new rebates and options on the market, the ComEd EV Toolkit is designed to meet consumers where they are and to help them make informed decisions around EV purchase, installation, and ownership that will help move us closer toward our collective goal of reducing carbon pollution across our communities.”

Electrifying transportation – including cars and public transit – can create tangible health benefits for all communities and families across northern Illinois, even those who do not choose to use electric transportation options.

In fact, EVs can reduce air pollutants in the areas that would benefit most: diverse and low-income communities. For example, the City of Chicago’s Air Quality and Health Index reports the areas with the worst air quality and health indices are also neighborhoods where people of color make up a higher share of the population, and moreover, these communities are more likely to live close to industrial facilities and busy transit routes, where air pollutant emissions are higher.

Beyond the EV Toolkit, ComEd is committed to helping customers navigate new technology options, and to promote EV adoption broadly throughout the region. Just last month, ComEd announced its Beneficial Electrification (BE) plan, which, pending approval by the Illinois Commerce Commission, would provide $300 million over the next three years to help communities promote equitable access to EVs, lower costs of EV adoption for customers and communities, and accelerate the buildout of a large network of EV charging infrastructure serving the region.

The BE plan is designed to expand adoption by providing direct support to residential, business, school district and governmental partners. While the EV Toolkit is designed for residential customers, ComEd has also recently launched programs geared toward its other customer classes. This includes the EV Readiness program, a collaboration with the Metropolitan Mayors Caucus (MMC), aimed at providing cities and towns support with creating local policy and programs to ensure a safe and efficient implementation of new EVs and related infrastructure. This program is funded by a $225,000 commitment from ComEd and is expected to launch its first cohort in the fall.

Additionally, ComEd has begun piloting fleet assessment for large customers, and currently encourages businesses who are considering large-scale EV integration to contact us at EVBusiness@comed.com

For more information on EVs and to access the toolkit, visit www.comed.com/EV

Commonwealth Edison Company (ComEd) is a unit of Chicago-based Exelon Corporation (NASDAQ: EXC), the nation’s leading competitive energy provider, with approximately 10 million customers. ComEd provides service to approximately 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, Twitter, Instagram and YouTube.

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Source: ComEd

FAQ

What is ComEd's EV Toolkit?

ComEd's EV Toolkit is a resource designed to assist customers with information on electric vehicles, including savings, benefits, incentives, and charging options.

How much can customers save with electric vehicles in Illinois?

Customers can save between $2,281-$2,481 annually on fuel costs by switching to an electric vehicle compared to a gasoline-powered car.

What goals has Illinois set for electric vehicle adoption?

Illinois aims to have 1 million electric vehicles on its roads by 2030 as part of its clean energy initiatives.

What are the incentives available for EV buyers in Illinois?

ComEd's EV Toolkit outlines available state rebates and federal tax credits, helping customers qualify for financial incentives before purchasing an EV.

What is the Climate and Equitable Jobs Act (CEJA)?

The CEJA is legislation that sets a target for Illinois to achieve 100% clean energy by 2050 and supports the transition to electric vehicles.