48:25-6 Program to provide incentives for purchase, installation of in-home electric vehicle service equipment.

6. a. The Board of Public Utilities may establish and implement a program to provide incentives for the purchase and installation of in-home electric vehicle service equipment.

b. Any incentive program established pursuant to this section may be implemented only until June 30th of the 10th year after establishment of the program.

c. (1) Any incentive offered pursuant to this section shall take the form of a one-time payment to the person purchasing the in-home electric vehicle service equipment.

(2) The amount of the incentive offered pursuant to this section shall be determined by the board, but shall not exceed $500 per person. Any incentive a person receives pursuant to this section shall be in addition to any incentive the person receives for the purchase or lease of a new light duty plug-in electric vehicle pursuant to sections 4 and 5 of P.L.2019, c.362 (C.48:25-4 and C.48:25-5).

(3) The board may establish other requirements and parameters for the program as it deems necessary and reasonable to further the goals of P.L.2019, c.362 (C.48:25-1 et al.).

d. The board shall monitor the disbursement of incentives under the incentive program, and annually reassess the design and implementation of the incentive program. Provided the board's action is consistent with the provisions of subsection c. of this section, the board may:

(1) revise the incentive program, any aspect of the incentives, or the related implementation procedures or processes; and

(2) in consultation with the department, develop additional incentives for electric vehicle service equipment consistent with the goals of P.L P.L.2019, c.362 (C.48:25-1 et al.) in order to ensure efficient and equitable electrification of transportation in the State.

e. The board shall determine the form and manner of the application for, and the disbursement of, incentives pursuant to this section.

L.2019, c.362, s.6.