DPL EV Incentive Program

The region's foremost energy company recently introduced an incentive program designed to help advance electric vehicle (EV) technology across Delaware and Maryland.

Delmarva Power, a subsidiary of Exelon (NYSE: EXC), arranged for additional auto manufacturer rebates to its own customers who might be in the market for electric vehicles.

"We are seeing a lot of interest from our customers in electric vehicles," Jake Sneeden, Communications Manager for Delmarva Power, explained. "They're growing in popularity across Delaware and, as the energy company that's responsible for the local energy grid, they're going to play a larger role in what we do for providing, safe, reliable, affordable power for our customers."

Through the program, Nissan and BMW would afford special incentives that could save Delmarva Power customers thousands of dollars on the cost of certain all-electric vehicle models.

These rebates would be in addition to federal tax credits, up to $7,500, and state rebates and tax incentives, up to $3,500 made possible through the Delaware Department of Natural Resources and Environmental Control (DNREC), for qualified customers.

Nissan agreed to offer Delmarva Power customers a $3,000 rebate off the Manufacturer's Suggested Retail Price (MSRP) on its 2018 LEAF, while supplies last, through  June 30, 2018.

BMW, meanwhile, consented to $10,000 off the best negotiated price of a new, all-electric BMW i3 or BMW i3s, through July 31, 2018.

"Qualifying customers just have to bring a copy of the flyer, which can be found on our website, and their utility bill to the dealership to secure the discount," Sneeden described.

Although the automakers' rebate programs would only be available for a limited time--just as the DNREC sponsored rebate program, which would expire June 30, 2018--Delmarva Power continued to explore other ways to provide additional rebates for users of EV technology.

"Delmarva Power has proposed an Electric Vehicle Pilot Program, that is currently being considered by the [Delaware] Public Service Commission," Sneeden revealed.  "That would create new incentives for our customers who are interested in installing residential charging stations."

A decision from the DE PSC on that proposal was expected later in 2018.