High demand for EV charging station subsidies sees funding run out earlier that expected.
Meo Electric, a provider of electric vehicle (EV) charging solutions, is reporting that the $5 million Workplace Electric Vehicle Charging Incentive Program (WEVCIP) announced last month by the Ministry of Transportation of Ontario has run out of funds.
The goal of the program is to promote sustainable transportation and increase the uptake of EVs by helping workplaces, building owners, and building managers install electric vehicle charging stations. But demand has been so high that the funding has reached its cap.
Meo is reporting that since its launch on January 16, 2018, WEVCIP has been overwhelmingly successful: the MTO’s website says “program funds have been exhausted,” just five weeks after applications opened.
This means over 650 new workplaces charging stations will be built across Ontario in the next six months through the $5 million program.
“The quick uptake of WEVCIP funds reveals a huge latent demand for electric vehicles and charging infrastructure in Ontario,” said Zachary Lefevre, President of Meo Electric. “We’re thrilled by the eagerness businesses across the province have shown to support workplace charging.”