Installation costs depend on your home’s electrical setup. If you just need a 240-volt outlet installed and your panel has capacity, expect around $500-800. If you need a new dedicated circuit, costs typically run $1,000-1,500. Homes with older electrical panels that need upgrades can cost $2,000 or more. The good news is that Illinois offers substantial rebates – ComEd provides up to $3,750 for qualified installations, and federal tax credits cover 30% of costs up to $1,000. These incentives often cover a significant portion of your installation cost.