Atlantic City Electric Co. is looking to pave the way for electric vehicle usage in South Jersey.
ACE will create a $2 million innovation fund to provide grants to people or groups with projects designed to advance electric vehicle charging across the state and support the electrification of the transportation sector. It also has made a request with the state’s Board of Public Utilities to implement $14.9 million incentive program that will include reduced electric rates, credits and power bill rebates for residents purchasing and driving electric cars.
The company will offer reduced power rates for EV charging during off-peak hours and a 50 percent discount on the equipment and installation costs for a Level 2 home charging station at residential homes, with 50 percent discounts available for owners of apartment complexes who install charging stations in the parking garages of their buildings. It plans to install and 30 roadside direct current fast chargers along major highways.
“Our customers are demonstrating their interest in electric vehicle technology,” said Vince Maione, Atlantic City Electric region president, in a press release. “These programs both incentivize customers to pursue an EV option as their next vehicle purchase and provide them with the peace of mind that new charging options will be available to meet their fueling needs across South Jersey.”