Alberta was the only province to experience a year-over-year decline in gasoline prices to begin the first fiscal quarter of 2023. The price of gas dropped by 6.4%. Concurrently, the price of electricity in Alberta fell by nearly 46%. As a result, commercial enterprises who charge their electric vehicles (EVs) on-site paid (and continue to pay) significantly less to power their vehicles. This comparison highlights just one benefit of owning or leasing EVs over gas-fueled alternatives, even when the latter enjoy a modest boost in confidence. 

The advantages of EV-use for businesses are well documented. The operational costs of fueling and maintenance are lower. Moreover, modern EVs offer superior performance and functionality in the corporate era of digital transformation (DT). Your commercial space has adopted DT to enhance efficiency, so it only makes sense for your transportation initiatives to follow suit. Then there’s the obvious environmental benefit. Eco-consciousness is important given that corporate responsibility is not only mandated and expected, but it has also become a competitive advantage in branding initiatives. 

If all of the above isn’t enough, there’s another benefit that commercial parties in Alberta can capitalize on - cost savings via Canada’s Incentives for Zero-Emission Vehicles (iZEV) Program and other potential rebates. Let’s review.

What Commercial Enterprises in Alberta Need to Know About Canada’s iZEV Program and Other Potential Rebates

iZEV Program Savings

Canada’s Incentives for Zero-Emission Vehicles (iZEV) Program rebates are based upon 12, 24, 36, and 48-month leases and outright ownership. They also factor in the Make, Model, Model Year, Trim, and Fuel Type of the vehicle. Fuel types are categorized as Battery Electric Vehicle (BEV), Plugin Hybrid Vehicle (PHEV), and Fuel Cell Vehicle (FCEV). The rebates range from $625 up to $5000 per vehicle in your company’s fleet.

EV Electric Vehicle Rebates for Businesses in Alberta 2023 How to Qualify for the iZEV Program

To qualify for the program, each corporate EV must be on the iZEV List of Eligible Vehicles. This list is updated on an open-ended basis. Reference the catalogue on the Transport Canada platform right here to confirm eligibility.

Furthermore, eligibility is based on the Date of Purchase. Qualifying corporate vehicles must be purchased after the respective eligibility date for the vehicle (listed here). 

If your organization plans to increase (or introduce) its EV fleet, now is an ideal time to proceed with the investment. It is important to act soon, as the iZEV Program is available until March 31 of 2025 OR until program funding is exhausted. Monitor remaining funds for the iZEV program here. Should a significant number of corporations take advantage of the program over the fiscal quarters ahead, the rebate incentive may reach capacity before the prescribed date. Commercial enterprises in Alberta are encouraged to act quickly.

Other Available Rebates

The rebates included in the iZEV Program entice EV leasing/ownership enough on their own. That being said, there may be other available rebates for Alberta-based businesses.

Given that zero-emission vehicles are used in the course of business, companies are able to write off capital costs for eligible EVs in the year that each was purchased. Further, EVs come with a higher deductible rate. Gasoline engine vehicles have a deductible rate set at $30,000, but hydrogen fuel cell and electric vehicles offer a write-off at $55,000. View more on the Capital Cost Allowance (CCA) for EVs here. Organizations may also qualify for rebates regarding the installation of on-site charging stations. The Municipal Climate Change Action Centre (MCCAC) has made available a rebate that can save up to 46% of the costs of purchasing and installing a new charging station. Rebates are up to $5000 for a Level 2 Charger and up to $75000 for a Fast Charger. Funding is available on a first-come first-served basis, and the deadline for this particular application is March 31 of 2023. If you find this article after the fact, we encourage Edmonton area businesses to call Building Electric at (780) 328-6491 to inquire about other potential rebates.

In addition, there may be rebates for charging station installations via the Government of Canada’s Green Infrastructure Programs while multifamily property owners and developers may receive rebates for installations under the Greener Neighbourhoods Pilot Program.

We encourage you to monitor the Federal Government of Canada’s Funding, Grants and Incentives resource centre for ever-changing updates. If your commercial enterprise is located within Edmonton AB and wants to know if you qualify for rebates for an EV charging station installation, call Building Electric at (780) 328-6491

Electric Vehicle rebates incentivize Alberta organizations to adopt EV usage, leasing, and ownership at a record pace. Building Electric is leading the charge for those operating in the greater Edmonton area. We offer EV charger installations for property managers, developers, and businesses alike. Contact us today to discuss your options.

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