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Investor Spotlight: ComEd

ComEd’s Beneficial Electrification Plan

ComEd has proposed a new plan to advance beneficial electrification for northern Illinois, with targeted programs that would help communities and businesses adopt clean transportation, address the impacts of climate change, and promote equitable, and sustainable investment to expand access to electric vehicles (EVs) and EV infrastructure. Pending approval by the Illinois Commerce Commission, the Plan would commit $300 million over the next three years to programs, incentives and community education that seeks to help customers and communities take the steps needed to embrace EVs and other beneficial electrification technologies. The plan will help advance the goals of Illinois’ new clean energy law – the Climate and Equitable Jobs Act, or CEJA – which calls for a goal of putting 1 million EVs onto the road by 2030.

The Plan includes:

  • New programs to reduce upfront costs for residents to purchase EVs and EV charging infrastructure,
  • EV rebates and infrastructure support for municipalities, school districts and other large customers across the region for fleet electrification that would lower vehicle emissions pollution significantly – a benefit to everyone.
  • Business-focused resources and incentives to reduce upfront make ready costs and incentivize a broad network of charging available to communities across the region.
  • Prioritization of funding for communities of need – with funds targeted to make EV technology more accessible for environmental justice communities, R3 communities and low-income customers.

Additionally, the BE programs that have been proposed would complement existing infrastructure funding offered by the State of Illinois. For more information on the BE Plan, please review ComEd’s July 2022 fact sheet.

For more information on how ComEd has been working to support customers with EVs, please check out ComEd’s EV Toolkit. To keep up to date with ComEd’s latest initiatives follow them on Twitter and Facebook.

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