As the demand for electric vehicle (EV) infrastructure grows, fuel retailers are well-positioned to meet this need by integrating EV chargers at their sites. However, the high upfront costs and long payback periods can be challenging barriers. To offset these costs, retailers can leverage a range of public funding programs and incentives designed to encourage infrastructure development. From federal funding initiatives like NEVI to utility rebate programs, knowing how to navigate these options is key to maximizing financial support and accelerating EV infrastructure deployment.
Political priority = generous funding
Transport electrification is a major political priority, offering fuel retailers generous funding opportunities to install EV charging infrastructure. These programs often align well with fuel retailers' strategic locations and on-site amenities, helping to optimize their competitiveness in the EV space. The National Electric Vehicle Infrastructure (NEVI) Formula Program, for instance, is accelerating the rollout of ‘alternative fuel corridors’ along 75,000 miles of the US National Highway System. NEVI covers up to 80% of equipment and installation costs for qualifying sites within one mile of major routes, with 64% of allocated funds so far awarded to truck stops and convenience stores. According to recent survey data, 89% of fuel retailers with EV charging stations are aware of NEVI, and 30% have already applied. Yet, challenges remain – 43% of surveyed retailers operate in multiple states, where varying regulations impact eligibility and application requirements.
For more details on how to benefit from NEVI funding, download our Navigating NEVI guide.
Alternative options available
For those unable to qualify for NEVI, additional funding sources are available. The federal 30C Alternative Fuel Vehicle Refueling Property Credit, for example, provides a 30% tax credit toward total costs for alternative fuel and charging infrastructure projects. In addition, some local utility companies are stepping up to support EV charging rollouts. ComEd’s commercial charging rebates help offset installation costs, while Puget Sound Energy’s “Up & Go Electric” program covers up to 100% of EV charging expenses. Partnering with utilities enables fuel retailers to scale their EV infrastructure, reach new customers, and establish critical funding support beyond NEVI.
Federal initiatives like NEVI can deliver a three-times faster ROI for forecourt installations, making them essential to fuel retailers’ growth strategies. However, because NEVI applications are state-administered and often on tight deadlines, collaborating with an experienced partner such as Konect can streamline site selection, enhance funding eligibility, and ensure a competitive application process. Through Konect's close relationships with funders, fuel retailers can bridge the gap between initial investment needs and federal rebates, maximizing financial support and setting the stage for long-term success in EV charging.
To successfully leverage these funding opportunities, fuel retailers should consider the following strategies:
- Stay Informed on Funding Cycles and Criteria
Programs like NEVI, the 30C Tax Credit, and utility rebates often have specific eligibility criteria, geographic restrictions, and timelines. Staying updated on these details can ensure that applications are prepared and submitted within the required timeframes. NEVI, for example, is state-administered with different rules and deadlines, so understanding each state’s requirements is critical.
- Assess Site Suitability and Optimize Placement
Successful applications often hinge on the location’s strategic value, particularly for NEVI, which targets sites near major highways. Retailers should assess traffic flow, proximity to main routes, and compatibility with program requirements to ensure they select optimal sites for their EV chargers. Leveraging data-driven tools and working with partners familiar with funding agency criteria can streamline site selection and strengthen applications.
- Consider Partnerships with Utilities
Utility companies can play a pivotal role in supporting EV infrastructure expansion. Many offer rebates or cost-sharing programs for charger installation. By partnering with utilities, fuel retailers can reduce costs significantly, making EV infrastructure development more financially viable. Establishing these partnerships also supports energy grid efficiency, benefiting both the retailer and the local community.
- Utilize an Expert Partner
Working with a funding-savvy partner, such as Konect, can increase the likelihood of securing financial support. Konect’s expertise in EV infrastructure funding allows fuel retailers to identify qualifying sites, optimize funding applications, and navigate the complexities of multi-state applications. As an experienced partner, Konect bridges the gap between investment needs and available rebates, ensuring that fuel retailers maximize the value of each opportunity.
Securing Long-Term Competitive Advantage with Public Funding
For fuel retailers, the opportunity to integrate EV charging stations is a chance to stay competitive and meet the evolving needs of their customers. By leveraging funding and incentives through federal and utility programs, fuel retailers can accelerate EV infrastructure deployment and reduce costs, laying the foundation for long-term profitability. Staying informed on funding options, strategically selecting sites, and working with knowledgeable partners like Konect are essential steps in navigating the EV transition.
For a deeper dive into how fuel retailers are winning with EV infrastructure deployment, download our full whitepaper to equip your business with the insights needed to thrive in the EV market.
For more information about Konect and its offerings, visit here for the U.S. market and here for the European market.