The Benefits of EV Charging.
Commercial EV charging can help property owners create new revenue, attract and retain tenants, increase customer dwell time and support long-term sustainability goals. For multifamily, office, retail, hospitality and mixed-use properties, EV chargers are quickly becoming a practical amenity that can improve both the tenant experience and the value of the property.
Financial Incentives & Rebates.
The financial case for EV charging is stronger than most property owners realize —state and local programs currently combine to cover a substantial share of installation costs for qualifying commercial properties.
| INCENTIVE |
DETAILS |
| New York State Tax Credit |
New York businesses can claim a state tax credit of up to $5,000 per charging station, or 50% of the total property cost, whichever is less. |
| Charge Ready NY 2.0 (NYSERDA) |
This NYSERDA program offers rebates of $3,000 per charging port for organizations installing Level 2 EV stations at workplaces, multi-unit dwellings, or hotels/motels. Sites in disadvantaged communities are eligible for an additional $1,000 bonus per port. |
| EV Make-Ready Program |
Utility providers like Con Edison offer programs that can cover up to 90% (or 100% in eligible disadvantaged communities) of the utility-side infrastructure costs required to prepare your property for EV chargers. |
| SmartCharge Commercial Program |
Con Edison provides ongoing cash rewards to commercial operators for off-peak EV charging and energy-saving load management technologies. |
Revenue, Property Value & Tenant Appeal.
EV charging can create a direct income stream when owners set custom charging fees. It can also make a property more attractive to tenants, residents, employees, visitors and future buyers.
For retail and hospitality properties, EV chargers can encourage longer visits while drivers charge. For multifamily and office buildings, they can help retain tenants who increasingly expect convenient charging where they live or work.
Sustainability & Compliance Planning.
EV charging can also support broader sustainability planning, especially when paired with solar, electrical upgrades, building automation or other energy efficiency improvements. For NYC property owners, planning ahead can make it easier to prepare for future EV infrastructure requirements and changing tenant expectations.