Atlantic City Electric
MAYS LANDING Atlantic City Electric has received approval from the New Jersey Board of Public Utilities to implement a suite of programs that will significantly expand clean electric transportation options in southern New Jersey.
The multi-phase program will help make the transition to electric vehicles more convenient and affordable by expanding infrastructure and provide rebates and incentives to cover part of the cost of installing charging stations in homes and businesses. Rebates will last until Dec. 31, 2026, or until funding is exhausted.
We are excited to offer new programs that will help expand clean electric transportation options for all communities in our service area, support New Jersey's climate goals and help improve air quality in the region, Atlantic City Electric Region President Gary Stockbridge said in a release. We worked closely with all involved to reach an agreement that will rapidly grow South Jersey's public charging network and support commercial and residential customers who want to skip the gas pump. As we continue to help position New Jersey as a leader in this rapidly growing industry, we look forward to exploring opportunities to support clean transportation options for larger trucks and buses, public transportation and our bigger industrial customers, like ports and distribution centers.
Atlantic City Electric's new programs include incentives to cover a portion of the installation costs for 1,100 privately owned/operated ports that are available to the public 24/7; 50% rebates up to $1,000 to cover installations in homes, multi-family buildings, and workplaces; reduced rates for charging during off-peak hours; and a new rate option for fast-charging stations.
The programs come on the heels of Gov. Phil Murphy's recent announcement of $100 million to expand installation of EV charging stations.
Atlantic City Electric's new programs are designed to create equitable access to clean transportation options. At least 20% of the charging ports supported through the multifamily program will be sited in overburdened communities and will receive rebates covering 100% of installation costs.
As EVs become more popular, EV charging in New Jersey is projected to grow electricity consumption by 30% by 2035, requiring more charging infrastructure and enhancements to the state's electric infrastructure.
According to Jane Asselta, vice president of Southern NJ Development Council, the programs will also help expand South Jersey's economic development potential.
Beyond the generous residential rebates and lower off-peak rates, the public charging incentives and fast charging rates will encourage highway corridor charging buildout, critically important to our tourism industry, and will also stimulate private investment in workplaces, shopping centers, outlets and malls, healthcare facilities and entertainment attractions. These programs can also support EV charging station deployment in South Jersey's rural communities, making those towns more attractive to new businesses and residents.
Atlantic City Electric's new services will be paid for through delivery charges on customer bills. The programs are expected to cost approximately $21 million, or about 30 cents on the monthly bill for the typical Atlantic City Electric residential customer using 679 kWh per month.
