EV Charging Incentives
Given the increasing number of battery electric and plug-in hybrid vehicles coming to market, and the Biden administration’s focus on building out a nationwide publicly accessible EV charging network, dealers are looking for information on federal, state, and local level incentives to assist with the purchase and installation of EV chargers. The resources referenced below touch on incentives for commercial facilities (like dealerships), for public charging, and for at-home chargers:
Federal Law Incentives: Included in this list of federal EV and charging incentives is the Alternative Fuel Infrastructure Tax Credit for commercial and at-home alternative fueling facilities, including EV charging stations purchased and installed by December 31, 2021. For commercial EV charging, the credit was for up to 30% of the cost, not to exceed $30,000, and up to $1,000 for at-home chargers. Congress is considering legislation to reauthorize this tax credit (or a modified version of it).
State Law Incentives: Use this tool to look-up state-specific EV and charging infrastructure incentives.
Electric Vehicle (EV) Charging Station Policies for Condominiums
Condominium associations may not prohibit or restrict the installation or use of EV charging station in a homeowner’s designated parking space. Condominium associations may put reasonable restrictions on EV charging station, but the policies may not significantly increase the cost of the EV charging station or prohibit installation. Homeowners may be required to comply with applicable safety codes and architectural standards, engage a licensed installation contractor, provide a certificate of insurance, and reimburse the cost of any increased insurance premium associated with the EV charging station. The homeowner of the parking space equipped with EV charging station is responsible for the cost of the installation, operation, maintenance, repair, removal, or replacement of the station, as well as any resulting damage to the EV charging station or surrounding area. (Reference Florida Statutes 718.113)
EV Charger Tax Credit Business
The federal tax credit, often referred to as the 30C tax credit, covers 30% of EV charger equipment and installation costs. For non-residential installations, the tax credit is up to $100,000. You claim the credit on your Federal tax return by completing a form 8911. Starting in 2023, customers must follow prevailing wage guidelines for installation. Chargers must also be located in approved "census tracts."
EV Charger Tax Credit Residential
The federal tax credit, often referred to as the 30C tax credit, covers 30% of an EV charging station, necessary equipment and installation costs. For residential installations, the IRS caps the tax credit at $1,000. You claim the credit on your Federal tax return by completing a form 8911. The Inflation Reduction Act Projects extended this tax credit through 12/31/2032