During these tough economic times, every penny counts. That’s why it makes perfect sense for residents and businesses to take advantage of available resources that not only save on energy, which lowers electricity bills, but also get money back in the form of rebates.

One rebate that is providing cost-savings, spurring economic growth and expanding accessibility is Hawaiʻi Energy’s incentive program for electric vehicle charging stations (EVCS). Thanks to the 2019 Legislature and Gov. David Ige, rebates are now available for new installations and retrofits of Level 2 charging stations and DC fast chargers at multifamily properties, retail spaces, hotels and workplaces.

While the incentives are slated to be available until June 30, 2021, or while funding lasts, Hawaiʻi Energy anticipates distributing all funds well before the deadline based on the high volume of applications received so far.

The program has already resulted in 31 improved or new Level 2 charging stations, including one at a retail center in Puna on Hawaii island, and an updated Level 3 DC Fast Charger in Central Oahu. EV sales are growing more than 25% year over year while gasoline vehicle sales are flat. Expanding the state’s EVCS network beyond the Honolulu urban core will give more residents — across all incomes — access to the benefits of driving electric.

First, EVs are better for the environment and are up to four times more efficient than gas-powered vehicles, according to the Plug-In Electric Vehicle Infrastructure Cost-Effectiveness Report by Energy Solutions.

Second, the cost to buy or lease an EV is now comparable to similar types of gas-powered vehicles. Third, EVs generally cost less to maintain. And with its increasing popularity, many automakers are rapidly adding new models to the market, including electric pickup trucks expected in 2021, which will be a game-changer.

Lastly, with Hawai‘i’s abundance of solar power during the day, daytime charging of EVs is usually fueled by the sun rather than fossil fuels.

Another game-changing opportunity is EV charging at affordable and workforce housing communities, which can take advantage of Hawai‘i Energy’s second EVCS incentive program, in partnership with Ulupono Initiative. This bonus rebate is specifically for housing developments serving households on all islands that make no more than 100% of the area median income (AMI), as defined per county.

This will hopefully fill the gap left by Bill 25, passed by the Honolulu City Council on May 20 and signed into law on June 4, which removed the EV-readiness requirement for affordable housing serving households up to 100% AMI.

It’s been argued that future proofing housing with EV-readiness may increase the cost of homes. However, it would be up to four times more expensive to incorporate EV-ready electrical infrastructure post-construction than earlier during the design phase, according to the Southwest Energy Efficiency Project. Data also shows that overall auto-related costs will decrease from driving electric and more than offset the relatively minimal added costs of EV-readiness. Hence, the question becomes, how can these households afford not to consider an EV?

By building up public infrastructure, we want to ensure the ease and cost-savings of driving electric is available to everyone and not just those who can afford it now. The affordable housing EVCS rebate is available for qualified installations between Jan. 1, 2020, and June 30, 2021, while funding lasts. (See HawaiiEnergy.com/EVCharging for more information.)

We hope these incentives, plus the current federal tax credit for EV chargers, will encourage more developers to install EV charging stations at office buildings, retail centers, hotels, affordable housing facilities and other entities that support and welcome all EV-driving guests.

Susan Tai is the new initiatives manager at Hawaiʻi Energy; Greg Gaug is senior vice president of investments and analytics at Ulupono Initiative.