![ComEd announces $90M in EV funding at Chicago Drives Electric [part 1]](https://i0.wp.com/electrek.co/wp-content/uploads/sites/3/2024/10/comed_press-conference_MAIN.jpg?resize=1200,628&quality=82&strip=all&ssl=1)
ComEd announces $90M in EV funding at Chicago Drives Electric [part 1]
Illinois utility ComEd kicked off the Chicago Drives Electric event with a $90 million bang, featuring a new Point of Purchase initiative to deliver instant discounts to qualifying business and public sector customers who make the switch to electric vehicles.
Chicago Drives Electric kicked off this morning with a media and industry day event sponsored by industry analysts CDK Global and the local electric utility, ComEd. The event is open all weekend long, and enables Chicago area car buyers to experience the hottest new EVs on the market without necessitating a high-pressure trip to a car dealer.
Now in its second year, Chicago Drives Electric has grown significantly — but that $90 million ComEd rebate program is the day’s big news. The utility’s Beneficial Electrification initiative is designed to provide more certainty around the total costs of converting commercial fleets to battery electric power, and is backed by a growing collaboration of more than 30 Illinois car and truck dealers, OEMs, and other local EV and auto industry stakeholders.
“Making the switch to electric vehicles shouldn’t be a challenge, which is why ComEd is committed to offering resources, tools and programs to remove barriers to EV adoption,” said Melissa Washington, Senior Vice President of Customer Operations at ComEd (at top). “… we launched our EV rebate program to help make it easier for customers to make the switch to electric vehicles. The new Point of Purchase EV rebate initiative, and the ability to provide instant rebates to fleet customers, is a necessary continuation of our original offering to make widespread fleet electrification more achievable.”
The Point of Purchase is the latest initiative by ComEd to help make the transition to EVs easier across northern Illinois — and not just easier, but more equitable, too.
That commitment to environmental equity means that half of ComEd’s nearly $90 million in available rebate funds will go to EIEC and low income communities, and in higher amounts.
Recognizing that upfront purchase cost is still a significant barrier to EV adoption, the Point of Purchase initiative will help more commercial customers – including businesses of all sizes, and public sector customers — to qualify for fleet vehicle purchase rebates ranging from $5,000 to $180,000 per vehicle at the time of purchase (rebate amounts depend on vehicle type, with Class 1 and 2 vehicles qualifying for a base rebate of $5,000, and rebates climbing up to medium-duty box trucks up through Class 8 electric semi trucks and on to transit and school buses > 35‘).
“ComEd’s commitment to advancing transportation electrification and supporting customers through every step of their fleet electrification journey is reinforced by this new initiative. At this juncture in electrification efforts, affordability is crucial, and this program makes it easier for businesses to electrify their fleets,” said Brian Robb, Director of Government Relations at Lion Electric. “As a member of the ComEd Point of Purchase network, (Lion is) looking forward to further increasing widespread EV adoption in northern Illinois.”
To obtain an instant rebate through the ComEd Point of Purchase initiative, fleet vehicle operators must coordinate the purchase of an EV through one of the approved dealerships or manufacturers in the ComEd Point of Purchase network (here’s a list of those). The dealership will then submit the necessary rebate voucher application, enabling the customer to purchase their new electric vehicle at a reduced rate.
And, yes: buyers can stack the ComEd rebate along with other federal and state rebates, covering up to 100% of the cost of a new EV.
Chicago Drives Electric runs all weekend long, and is part of the Chicago Auto Trade Association’s celebration of national Drive Electric Week.
Electrek’s Take
The higher initial cost of EVs is often cited as the number one barrier to adoption, but the same could be said of a Rolex wristwatch. That is to say, higher prices don’t make things less appealing, just harder to buy — and programs like ComEd’s, which are lowering that barrier to entry to fleets that want to electrify, are big enough to move the needle.
Here’s hoping every bus and truck fleet in the region takes them up on their offer.
SOURCE | IMAGES: ComEd; images by the author.
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The Mockingbird Solar Center, Ørsted’s largest solar project globally, is now online, next to protected prairie donated by the renewable energy giant.
This massive 468-megawatt (MW) solar farm is set to power 80,000 homes and businesses, providing a major boost to the Texas grid.
But the launch of Mockingbird Solar isn’t just about clean energy – it’s also about restoring precious ecosystems. Ørsted has donated 953 acres of the Smiley-Woodfin Native Prairie Grassland, which sits next to the solar center, to The Nature Conservancy. The donated land is now the Smiley Meadow Preserve, a protected area for tallgrass prairie that’s home to more than 400 species of grasses and wildflowers.
Tallgrass prairies are some of the rarest ecosystems in the US, with less than 1% of Texas’ original tallgrass prairies still in existence. Tallgrass prairie does a lot of heavy lifting for the environment, including storing carbon, preventing floods, and providing crucial habitats for pollinators.
“Native prairies are the rarest landscapes left in Texas – so much so that many people have never seen one,” said David Bezanson, land protection strategy program director for The Nature Conservancy in Texas. He added that preserving Smiley Meadow will not only conserve one of the best prairie remnants left but also help restore other prairie habitats and boost regional biodiversity.
The Mockingbird Solar Center, a half-billion-dollar project, is part of Ørsted’s $20 billion push to expand renewable energy production across the US. Beyond generating electricity, it will inject $75 million into local property taxes, benefiting schools and other public services. The project also created over 550 construction jobs and will continue to be supported by operations staff moving forward.
Ørsted worked with US companies, including First Solar, for solar panels and partnered with local businesses like Drake Construction and Pfifer Farms for construction materials. It also gave more than $50,000 to local volunteer fire departments in Roxton and Brookston.
With Mockingbird Solar now up and running, Ørsted has more than 6 gigawatts of onshore wind, solar, and battery storage projects either in operation or being built across the US.
Read more: Ørsted got a huge Tesla battery storage system for the world’s single-largest offshore wind farm
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Jeep’s first global luxury electric SUV will arrive at US dealerships any day. Despite its $72,000 price tag, lease prices for the 2024 Jeep Wagoneer S EV start at just $599 per month.
2024 Jeep Wagoneer S EV lease prices
After unveiling its first global electric SUV, Jeep’s CEO said the Wagoneer S “marks a new chapter” in its storied history.
Jeep claims the Wagoneer S packs “exhilarating performance.” With 600 hp and 617 lb-ft of torque, the big-body SUV can sprint from 0 to 60 mph in just 3.4 seconds. Its 100 kWh battery pack also gives it a driving range of over 300 miles.
The electric SUV is unmistakably still a Jeep, but it did get several upgrades to distinguish it as an EV. The grille is now enclosed without the need to cool a massive engine, giving it a sporty, more modern look.
Jeep revamped its design with a new illuminated seven-slot grille with ambient cast lightning. It also fine-tuned its profile, adding flush door handles, a rear wing, and integrated fins for better airflow.
The first Jeep Wagoneer S Launch Edition models get exclusive dark accent design elements like 20″ Gloss Black Wheels.
Inside, the electric SUV is loaded with the latest tech and connectivity, including a best-in-class 45″ of usable screen space. The setup includes a 12.3″ center screen and an exclusive 10.25″ interactive front passenger screen.
Jeep already announced that the 2024 Wagoneer S EV will start at $71,995, but now the company has revealed lease prices for the first time.
According to Jeep, the 2024 Jeep Wagoneer S Launch Edition can be leased for $599 per month for 36 months (10,000 miles per year). The deal includes $4,999 due at signing and a $7,500 EV incentive. However, you may want to act fast, as Jeep’s offer is only good until December 2, 2024.
| Jeep Wagoneer S vs Tesla Model Y | Starting Price | Range | Lease Price |
| Jeep Wagoneer S Launch Edition | $71,995 | +300 miles | $599/mo |
| Tesla Model Y RWD | $44,990 | 320 miles | $299/mo |
| Tesla Model Y AWD | $47,990 | 308 miles | $399/mo |
| Tesla Model Y AWD Performance | $51,490 | 279 miles | $599/mo |
In comparison, Tesla Model Y RWD lease prices start at $299 for 36 months with $2,999 down (10,000 miles). The Performance AWD model starts at $599 per month. In an end-of-year promo, Tesla also offers 3 months of free Supercharging and Full Self-Driving.
Ready to drive off in your new electric SUV? We can help you get started. You can use our links below to view offers on the Jeep Wagoneer S and Tesla Model Y at a dealer near you.
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