With British Columbia’s commitment to developing zero-emission vehicles, it’s clear that homes with electric vehicle charging stations are going to become increasingly more valuable.
If you’re considering maximizing the value of your home when you put it on the market, this might be the right time to proactively upgrade your home.
Effective last week, and for a limited time that is not defined, owners of single-family homes can apply for a rebate up to 50 per cent of the purchase and installation of a Level 2 EV charger (to a maximum of $700). This is double the rebate that was in place prior to the first week of December.
It’s one of the incentives that the provincial government, BC Hydro and Fortis are collaborating on as B.C. takes the lead in EV sales per capita, now the highest in North America.
The rebates, while different, are also available for apartment building and condo owners, and both electricity suppliers provide lists of the chargers that qualify as Level 2, without endorsement.
When it comes to adopting electric vehicles, B.C. is at the head of the class with more than 30,000 of them currently on the road, a figure that last year represented 10 per cent of all the province’s new passenger vehicles. No other province was higher than 3.5 per cent.
"Making electric vehicles more affordable is good for the climate, helps people and supports businesses looking for ways to reduce costs and pollution," said George Heyman, Minister of Environment and Climate Change Strategy.
It also is likely to make homes more saleable.