Ameren Missouri offers boost for businesses to install EV charging stations
Following action by the Missouri Public Service Commission, nearly $4 million available through 2024 to help businesses install charging stations
Business owners, property owners and municipalities have been given more time to apply for Ameren Missouri’s Charge Ahead program, which provides up to 50% in reimbursements to install electric vehicle (EV) charging stations on property parking lots. Nearly $4 million in funds are available to qualified customers. These charging stations can bring in additional revenue for businesses as customers shop while their vehicles are charging or be a complimentary service that may bring in new customers.
Ameren Missouri’s remaining Charge Ahead funds were set to expire at the end of the year, but the Missouri Public Service Commission extended the program until the end of 2024, or until the original funds are exhausted. These local incentives can be combined with federal tax credits that were recently extended in the Inflation Reduction Act. Federal tax credits of 6% to 30% may apply to a project.
“Having an EV charging station on your property is great for business,” said Patrick Smith, vice president of economic, community and business development at Ameren Missouri. “Retailers, restaurants, and even gas stations have found that EV drivers go out of their way to choose locations that support charging – and while there, they are more likely to come inside and purchase goods and services. Convenient charging can also be a benefit to your employees.”
Announced in 2020, Ameren Missouri’s Charge Ahead program was designed with Missouri’s future in mind: to eliminate barriers to EV charging and expand support for more efficient cars and trucks. To date, Ameren Missouri has installed more than 400 EV chargers across the state at places such as grocery stores, corporate headquarters and community centers. No additional funding is being provided with this extension.
“Electric vehicle adoption is growing fast in Missouri,” Smith added. “In fact, EV sales in Missouri have nearly doubled since 2020. Expanding our charging infrastructure will benefit Ameren customers and community members as well as local businesses, so we want as many businesses as possible to take advantage of these incentives.”
Visit AmerenMissouri.com/EV to learn more about how to take advantage of the incentives available to local businesses and to put in an application. Ameren Missouri must pre-approve the projects prior to construction to be eligible. To learn more or attend a free webinar about how EV charging can help your business, visit the Ameren Missouri webpage.