The Board of Public Utilities recently approved Atlantic City Electric’s (ACE) plan to invest $21 million in electric vehicle (EV) charging infrastructure in Southern New Jersey. The ACE plan will include incentives and rebates to cover part of the costs of installing charging equipment in residential homes, in public charging stations, at multifamily buildings and at workplaces.
The approval of ACE’s plan comes just a few a weeks after BPU approved an EV program proposed by Public Service Electric & Gas Company (PSE&G), the state’s largest utility. PSE&G will invest $177 million over the next six years to install up to 1,500 public fast chargers, 4,375 Level 2 chargers at workplaces, community locations and multi-unit dwellings and up to 44,000 residential chargers throughout the state to support the increased adoption of EVs.
It also comes just a few days after Governor Phil Murphy announced an investment of more than $100 million in clean transportation projects, including $10 million for expanding EV charging infrastructure. The State investment will be funded by revenue from both New Jersey’s participation in the Regional Greenhouse Gas Initiative (RGGI), as well as the Volkswagen Mitigation Trust Funds. The investment will provide grants to fund electric vehicle (EV) charging infrastructure, electrification programs and other mobility projects.
These three announcements show New Jersey’s commitment to boosting the number of EV’s on Garden State roads. New Jersey’s neighborhood new car and truck dealers, who offer more than 40 plug-in vehicle options (with dozens more coming in the next few years), are positioned to lead the EV revolution that is being supported by ACE, PSE&G, the State and many others.