Indiana Michigan Power - EV Incentive

Summary

Indiana Michigan Power offers incentives to residential, small commercial and commercial/industrial/multifamily customers to install electric vehicle charging stations. Basic descriptions of these incentives can be found below.

Residential

$500 for joining the program. I&M’s incentive helps offset the cost to set up or retrofit your current charger configuration to measure off peak PEV charging. PEV charging from 11:00 pm to 6:00 am daily will be discounted 45% from our standard residential per kWh rate.

Small Commercial

Existing small-commercial customers who average less than 4,500 kWh per month are eligible for a $500 incentive and a discounted off-peak rate up to a 45% reduction.

Commercial and industrial/Multifamily

$2,500 for the first port and $500 for each additional port toward installation of PEV charging equipment whether the customer can provide power for the chargers from behind their own electrical panels or if the chargers may require new service from I&M. In addition to these per port incentives for eligible PEV chargers, I&M can waive any customer investment that might have been required for new service for PEV charging based on anticipated revenues.