Tax incentives for installing electric vehicle (EV) chargers can vary depending on your location, as different countries and states/provinces may have different programs. Here are some examples of tax incentives for installing EV chargers:
- Federal Tax Credit: In the United States, the federal government offers a tax credit of up to 30% of the cost of purchasing and installing EV charging stations at homes and businesses. The credit is capped at $1,000 for home installations and $30,000 for commercial installations. The US government offers a once-off tax credit of up to $7,500 for purchasing a new EV, as long as the vehicle and taxpayer meet specific criteria.
- State Tax Credit: Some states in the U.S. offer their own tax credits for installing EV chargers. For example, California offers a tax credit of up to $2,000 for home installations and up to $5,000 for commercial installations.
- Utility Rebates: Some states like Ohio do not have any tax credits, but some electric utilities may offer incentives. This is similar to Indiana where Duke Energy, Indiana Michigan Power and AES Indiana all have some rebates. Contact your local utility company to find out if you qualify.
It’s important to check with your local government, utility company, or an experienced tax professional to determine the specific tax incentives available to you for installing EV chargers in your area.