Transitioning to a green infrastructure is an investment opportunity available for any business, including a small company. The adoption of electric vehicles is growing rapidly in the US due to changes in regulations and incentives available to increase the number of charging ports that accompany the advances in local electric vehicles (EV) manufacturing.
A minority-owned business specializing in automobile services aimed to extend its portfolio of services and sought funding to develop a EV charging station. Here is how is the business applied to grants and funding necessary to cover equipment and construction costs in New York.
Leveraging Funding Resources to Expand to EV Charging
Problem
The Bronx is the home of disadvantaged communities from diverse ethnic and cultural background, as well as the second borough with the highest number of commuters. The adoption of carbon-free modes of transportation is growing at a fast pace, and making infrastructure greener can maintain a business’ competitiveness during the current energy transition. A business owner saw a gap in services and recurred to Grant Gurus to find out information about how can get fuding to develop a EV charging station in The Bronx.
Project
The research of possible incentives for the EV Charging Station project was performed in conjunction with an analysis of the site condition and project competitiveness and available funding options. In every stage of the process, including site visits, the client was connected to specialists in charge of completing estimations and the technical documentation requested for the application to the Con Edison and the NYSERDA Coordinated Incentive Program. Extra financing options and technical support were also provided.
Outcome
The EV charging station project was successfully approved, enabling the business to move towards its development stage. Throughout these steps, the small business developed a plan, enhance its profile, and gained better understanding of its position in the market and the project scope. The business owner has not only secured grants, but also developed a network of financial and technical connections that will allow the business to be sustainable while the new station is build.
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