If your utility company offers a rebate program, you will typically need to apply directly to receive credits or rebates against your utility bills.ĭo I have to install a minimum number of stations to qualify? Similar forms or applications are required for state and local programs. This form walks you through reporting your expenses for the project and calculating your credit. How do I apply for a tax credit for installing electric-vehicle charging stations?įor the federal tax credit, you’ll need to submit IRS Form 8911 when you file your business taxes. The National Conference of State Legislatures provides an up-to-date map with detailed information about current programs in every state and US territory.Ĭurious for more information about these programs? Here are some answers to a few common questions. Various tax and grant programs are available in every state except Alaska, Kansas, Kentucky, North Dakota, South Dakota and West Virginia. Georgia Power offers $500 per Level 2 charger. On the utility side, Rocky Mountain Power offers incentives to commercial customers in Utah that cover 75% of the costs, ranging from $1,000 per Level 2 charger up to $42,000 per multiport DC fast charger. Massachusetts, for instance, offers its MassEVIP Workplace and Fleet Charging program, which covers 60% of the costs of EV charging equipment and installation for up to $50,000 per business address. On top of that federal tax credit, there are myriad state and local options available through government entities and utility companies. If your business has multiple locations, you can apply this credit toward an installation at each one. It covers 30% of the cost for equipment and installation, up to $30,000. It applies to installs dating back to January 1, 2017, and has been extended through December 31, 2021. The federal 2020 30C tax credit is the largest incentive available to businesses for installing EV charging stations. Where To Find EV Charging-Station Tax Credits In most cases, that means all you have to do to qualify is install charging equipment on your business’s property and submit an application for credit. Some type of incentive program is available in 44 states and Washington, D.C., on top of the federal program that’s offered everywhere in the US. They usually come in the form of a tax rebate to reduce your business’s tax bill, but they may come in other forms (as we’ll discuss later). Given that the latter can be the most significant expense, that means these credits can add up to significant savings. Tax credits for installing EV charging stations are available in a variety of forms, and many of them apply toward the cost of equipment and installation. They include incentives for installing EV charging stations. These EVSE credits are designed to support the expansion of charging-station infrastructure and remove a major barrier to EV ownership by making refueling accessible everywhere. Most consumers are aware of tax credits for individual electric-vehicle purchases, but many business owners may not be aware of similar (and larger) credits for electric-vehicle supply equipment (EVSE). How Tax Credits for EV Charging Stations Work Read on for everything you need to know about how these tax credits and incentives work, plus what you have to do to get them (and why it’s worth installing more than just one). Chances are, your business can qualify for significant incentives to help you take the leap toward offering EV charging on your property. On the federal, state and local levels, there are a plethora of tax credits for installing electric-vehicle charging stations. And thanks to a variety of tax credits and incentive programs, the barrier to entry may be lower than you think. Installing electric-vehicle (EV) charging stations on your property can benefit your business in many ways - from attracting customers to luring top talent.
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