FreeWire Introduces Incentive Evaluation Service to Help Site Hosts Capitalize on Available Funding Opportunities for EV Charging

FreeWire's latest service offers batch site qualification analysis for the National Electric Vehicle Infrastructure (NEVI) eligibility, the Energy Storage Investment Tax Credit, the EV Charging Investment Tax Credit, and State and Utility rebates and incentives, among others.

NEWARK, Calif., May 1, 2023 /PRNewswire/ -- FreeWire Technologies, the leading provider of battery-integrated electric vehicle (EV) charging stations and energy management solutions, today announced the launch of CLAIM (Charging Location Analysis and Incentive Management), a service that quickly analyzes potential EV charging sites for available financial incentives. With the vast amount of government and utility funding available for EV charging infrastructure and energy storage, CLAIM is designed to help FreeWire customers rank sites with the highest incentive eligibility and driver utilization to capture funding capable of covering up to 80% of the total cost of installing FreeWire's battery-integrated ultrafast Boost Charger™.

The transition to EVs is well underway, with car manufacturers like Volvo and Mercedes committing to 100% electric vehicle sales by 2030. According to the International Council on Clean Transportation, 180,000 public direct current fast-charging (DCFC) ports will be needed to support the 26 million EVs expected on US roads in 2030. Comparatively, the US currently only has 26,276 publicly available DCFC ports. Billions of dollars in government and utility incentives are available to support the expansion of our national infrastructure network but identifying and applying for that funding can be a time-consuming and complicated process, particularly when overlayed with usage and driver behavior data.

"Many people don't realize that EV Charging has a positive ROI if customers use the right charging technology, know where drivers want to charge, and have insight into the availability of tax credits and other incentives," commented Peter Olmsted, Director of Public Policy at FreeWire. "Our team has the expertise and tools to help FreeWire customers quickly identify available incentives, and be the first to deploy fast-charging in desirable areas. We are confident that this service will help to speed the rate of EV adoption and our team is eager to support site hosts as they consider the move to EV charging."

CLAIM helps site hosts simplify the process of capturing incentives and strategically placing fast-charging stations to maximize their return on investment (ROI). The tool is powered in part by Mobilyze.ai, a platform recently acquired by FreeWire that uses artificial intelligence to analyze location data and strengthen the business case for specific sites. In an initial offer, FreeWire will provide free basic site assessments on up to 5 sites. For assessments beyond the initial 5, or for advanced assessments that include the full scope of CLAIM's capabilities, a per site charge will be incurred and can be credited toward the purchase of FreeWire equipment. The basis for the assessment is FreeWire's proprietary datasets of highly precise and location-specific data, including EV adoption, utility rate tariffs, percentage of apartment dwellers, and incentive programs. This technology and database, combined with FreeWire's proprietary ROI calculator, and team of experienced policy experts, work together to evaluate the business case for installing and operating fast chargers at individual sites.

"The new investment tax credit for standalone energy storage systems presents an important opportunity for site hosts to leverage private investment in distributed energy resources," said Ethan Sprague, Senior Vice President of Sales, Marketing, and Policy at FreeWire. "This tax incentive is available everywhere in the U.S. and with a value of up to 50% of eligible acquisition and development costs, we are excited to work with customers to help achieve their electrification goals."

FreeWire's team of experts, and the Mobilyze.ai platform can rapidly help site hosts understand and evaluate the business case of installing fast-charging infrastructure at their site. FreeWire's service supports the development and submission of grant applications, evaluation of site layout and ADA requirements, installation cost assessments, and helps to determine electric rate tariffs and the cost of owning and operating EV charging. FreeWire's team can provide information on qualifying incentives within one week or less.

For more information about CLAIM, or to assess your site for available incentives, visit the website here and fill out the form to speak to a team member.

About FreeWire Technologies
FreeWire Technologies was founded in 2014 and is an industry leader in ultrafast EV charging and energy management solutions solving grid infrastructure constraints and supporting the global transition to electric vehicles. FreeWire's network of battery-integrated Boost Chargers™ transform the way energy is distributed and bridge the gap from legacy infrastructure to future technology. FreeWire products are used by Fortune 100 companies, commercial and utility customers, fleets, retail locations, and gas stations across North America and Europe. For more information visit https://freewiretech.com

SOURCE FreeWire Technologies