GreatAmerica Financial Services Corp. has announced a program for financing electric vehicle supply equipment (EVSE). The equipment financing company has already financed more than $1 million in transactions with this program that offers value-add resellers, technology solution providers, electric vehicle charger manufacturers and installers a simple method for offering a single fixed monthly payment to their customers. GreatAmerica can finance the electric vehicle (EV) charger device, along with the associated costs with placing the EV stations in the ground, including the infrastructure, software services, warranty, installation and site work. 

"We're excited about the growth potential in the EVSE market and are committed to helping make EV charger sales simpler and easier for our customers with our bundled monthly payment offering," said David Pohlman, president, GreatAmerica Financial Solutions. "Our experience financing in this sector helps us fully understand the requirements of these projects. Often there is a fair amount of infrastructure and site preparation work that also needs to be financed as part of these implementations."

GreatAmerica is taking note of the popularity of battery electric vehicles over the past few years as well as the strong continued projected growth. According to EVAdoption, new electric vehicle sales in the United States should grow to reach approximately 29.5% of all new car sales by 2030. ACDI recognized this growth trend and announced ACDI Energy Services last year, offering EV charging hardware and installation services to equipment resellers.

Cars can now refuel wherever they are parked instead of going to a fuel station. This is a significant change and opens the opportunity for providers to place charger stations anywhere from multifamily lots to office parks.