Electric Vehicle Charging Incentives Available for Some N.J. Residents

Rhea-AI Summary

Jersey Central Power & Light (JCP&L), a FirstEnergy Corp. (NYSE: FE) subsidiary, has relaunched its EV Driven residential electric vehicle charging incentives program in New Jersey. The program offers up to $7,000 in incentives to eligible customers for property preparation for EV charger installation. This includes up to $1,500 for customer electrical upgrades and up to $5,500 for utility upgrades. The $39.8 million program, approved by the New Jersey Board of Public Utilities in 2022, aims to support the state's goal of increasing EV adoption to reduce greenhouse gas emissions. New Jersey ranks in the top five states for EV sales nationally. The program's relaunch follows a $4.1 million reallocation from non-residential portions after the initial residential incentives were fully awarded in September 2023.

Positive

• Relaunch of EV Driven program with $4.1 million reallocated for residential incentives
• Up to $7,000 in incentives available for customers to prepare for EV charger installation
• Program supports New Jersey's goal to increase EV adoption and reduce emissions
• High demand for initial round of incentives indicates strong customer interest

Negative

• None.

JCP&L incentives help offset costs of preparations for charger installation

HOLMDEL, N.J., Sept. 10, 2024 /PRNewswire/ -- Jersey Central Power & Light (JCP&L), a subsidiary of FirstEnergy Corp. (NYSE: FE), has relaunched its EV Driven residential electric vehicle charging incentives after maxing out customer participation in 2023. The incentives cover the cost of preparation work that customers are required to complete before an EV charger can be installed.

JCP&L's EV Driven is a four-year program, approved by the New Jersey Board of Public Utilities (BPU) in 2022, to provide incentives for electric vehicle charging infrastructure across the company's service area. This program was implemented to help benefit the state's environment by reducing auto emissions.

The residential incentive portion of JCP&L's $39.8 million EV Driven program closed in September 2023, just 14 months after the program opened in July 2022, after all available incentives were awarded. The program's reopening comes after the BPU recently authorized reallocating $4.1 million from non-residential portions of the EV Driven program.

Doug Mokoid, FirstEnergy's President, New Jersey: "New Jersey is a top-five state nationally for electric vehicle sales, and we are excited to make it easier for JCP&L customers to prepare their properties for at-home EV charging. The success of the initial round of incentives shows just how valuable these are for our customers."

JCP&L customers may be eligible for up to $7,000 in incentives to prepare their property for EV charger installation, including:

• Up to $1,500 for customer electrical upgrades required to install a qualified Level Two electric vehicle charger.
• Up to $5,500 in utility upgrades, such as new poles, transformers and service wires, necessary to support the chargers.

Beyond the incentives for preparation work, additional bill credit incentives are available to encourage off-peak-hours charging.

Customers can find more information about the program and apply for incentives at jcp-l.com/evdriven.

Electric vehicles offer a clean, efficient alternative to gasoline-powered vehicles, averaging as low as one-third the cost-per-mile of gasoline. Depending on the battery capacity, EV driving range can vary from about 80 miles up to 280 miles. New Jersey's Energy Master Plan calls for an increase in electric vehicle adoption to reduce greenhouse gas emissions. According to the U.S. Department of Energy, the transportation sector is the largest source of greenhouse gas emissions in the state, accounting for 46% of the state's net emissions.

JCP&L serves 1.1 million customers in the counties of Burlington, Essex, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Somerset, Sussex, Union and Warren. Follow JCP&L on X, formerly known as Twitter, @JCP_L, on Facebook at facebook.com/JCPandL or online at jcp-l.com.

FirstEnergy is dedicated to integrity, safety, reliability and operational excellence. Its electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy on X @FirstEnergyCorp or online at firstenergycorp.com.

 

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SOURCE FirstEnergy Corp.

FAQ

What incentives does JCP&L offer for EV charging preparation in New Jersey?

JCP&L offers up to $7,000 in incentives for EV charging preparation, including up to $1,500 for customer electrical upgrades and up to $5,500 for utility upgrades necessary to support EV chargers.

When did FirstEnergy's (NYSE: FE) subsidiary JCP&L relaunch its EV Driven program?

JCP&L relaunched its EV Driven residential electric vehicle charging incentives program in September 2024, after the initial program maxed out customer participation in 2023.

How much funding was reallocated for the JCP&L EV Driven program relaunch?

The New Jersey Board of Public Utilities authorized reallocating $4.1 million from non-residential portions of the EV Driven program for the relaunch of residential incentives.

What is the total value of JCP&L's EV Driven program approved by the New Jersey BPU?

JCP&L's EV Driven program, approved by the New Jersey Board of Public Utilities in 2022, is valued at $39.8 million.