Co-op’s Electric Vehicle Pilot Program offers new $5,000 incentive to prospective EV owners

Posted: September 13, 2021 at 9:52 am
Roanoke Electric is ramping up its EV Pilot Program, now offering prospective electric vehicle owners up to $5,000 towards the purchase of an EV.

“We recognize that not all member-owners who are interested in EVs can bear the upfront cost of purchasing one,” said Curtis Wynn, president and CEO of the co-op. “The program enhancement is in keeping with our strategic efforts to promote inclusivity to ensure that the benefits of EV ownership are accessible to all member-owners.”

The $5000 incentive is available to 17 low-to-moderate income member-owners who are very interested in purchasing an electric vehicle. The funding opportunity is the result of an $85,000 grant awarded to the co-op by the Mary Reynolds Babcock Foundation, a philanthropic organization seeking to alleviate poverty and increase social and economic justice in 11 southern states.

Who is eligible to receive the grant?
  1. Member-owners with a length service at participating location of at least three years.
  2. Recipients of payment subsidies credited on the electric bill within the past 12 months (LIHEAP, CIC, WAP).
  3. Member-owners who have been declared eligible (whether funded or not) for energy crisis assistance programs from local departments of social services.
  • What vehicles are eligible for the grant funding?
  • Any battery electric vehicle
  • Must be no older than 10 years old
  • Less than 75,000 original miles
  • No modifications to chassis or emission control systems
  • Clean title
  • No open recalls
  • Able to provide vehicle history report and vehicle inspection
Member-owners are encouraged to contact the co-op’s office and coordinate with staff on vehicle selection. Once a member owner submits an application for funding and it is approved, the co-op will buy down cost of vehicle with the dealer. The grant will be paid directly to the dealer to lower the overall cost of the new or used vehicle.  The maximum available for grant toward purchase is $5,000.

The grant offering is available until Dec. 2022.  Member-owners who receive the grant must also participate in the co-op’s EV Pilot program.

These savings add up even more for participants in the pilot. For a $50 per month flat rate, they can drive a range of nearly 1,500 miles on a full charge. That “subscription rate” compares to about $185 it would cost to drive a 20-miles per gallon vehicle the same distance.  In addition to a $1000 cash incentive upon purchasing an EV, participants also have the benefit of “re-charging” at home with the new charging station that will be professionally installed at no upfront cost to member-owners – a $1,700 value.
Those interested in learning more about electric vehicles and the EV Pilot Program are encouraged to contact the co-op. Roanoke Electric’s staff will share more detailed information about how EV’s work and the cost-savings potential. Member-owners may also schedule a test drive in the co-op’s electric vehicle.

For more information about the co-op’s EV Pilot Program, call 252-209-2236 or visit our Electric Vehicles page at www.roanokeelectric.com/ev