Home EV Charging Reimbursement: A New Frontier for Employers in North America
This home charging reimbursement guide, authored by Kate L. Harrison, Co-Founder of MoveEV, provides valuable insights into maximizing savings and efficiency in electric fleet management. It emphasizes the significant cost-saving potential of leveraging off-peak residential electricity rates, which can potentially slash fuel costs by up to 60 percent. It also addresses the challenge of fairly reimbursing employees for home electricity expenses incurred during vehicle charging. The guide explores the limitations (and dangers) of using stipends and/or an average kWh rate and offers a best-in-class alternative: implementing transparent reimbursement practices linked to actual usage and cost. Harrison details the complexities of tracking and verifying electricity usage for accurate reimbursements, highlighting the importance of innovative solutions like Geotab GO devices. Additionally, she discusses the nuances of determining costs per kilowatt-hour (kWh), emphasizing the pitfalls of relying on regional rates or averages. Finally, the guide underscores the value of ReimburseEV, a software solution that can streamline processes, ensure accuracy, and maintain compliance. Overall, this guide offers a comprehensive roadmap for fleet managers to navigate the transition to electric vehicles while optimizing savings and efficiency.