Map: US Department of Energy
The U.S. Treasury today released updated guidance on the EV charger tax credit for individuals and businesses – get the facts here.
The 30C tax credit for electric vehicle charging
When the Inflation Reduction Act took effect in August 2022, it provided a tax credit for up to 30% of the cost of qualified electric vehicle charging. The IRA, which was formally known as the Alternative Fuel Vehicle Refueling Property Credit, has changed the limitation of the 30C EV charging tax credit so that it is no longer per location, but is now per individual EV charging property – ie per charger.
The U.S. Treasury tax credit for electric vehicle chargers (claimed on IRS Form 8911) is increased to $1,000 for individuals applying for home electric vehicle charging and $100,000 – up from $30,000. Dollars – limited for commercial properties. This came into effect on January 1, 2023 (a year ago).
The tax credit can also be claimed through direct payments, allowing “eligible entities such as governments and tax-exempt organizations that invest in electric vehicle infrastructure to benefit.”
Location, location, location
The IRS's latest guidance addresses how individuals and businesses must be in an “eligible census tract” to qualify for the 30C EV charging tax credit. The IRS defines an eligible census tract as “any census tract that is considered a low-income community or is not an urban area.”
The White House said today that eligible census tracts “will certify that the Inflation Reduction Act's 30C electric vehicle charging tax credit is available to approximately two-thirds of Americans.”
The U.S. Department of Energy and Argonne National Laboratory have now released a mapping tool to help individuals and businesses determine whether they qualify for the 30°C electric vehicle charging tax credit. (Note that there is a disclaimer on the card that says it is not formal IRS guidance – and neither is this article! – so when it's time to file your taxes, reach out to a tax advisor to confirm eligibility.)
Zero Emission Transportation Association (ZETA) Executive Director Albert Gore III said, “As a primary stimulus for charging infrastructure, 30C plays an outsized role in our nation’s transition to electric vehicles.”
“We … now have 170,000 publicly accessible electric vehicle chargers nationwide. The Biden administration has set a goal of deploying 500,000 public chargers by 2030. To achieve this ambitious goal, the 30C tax credit must be implemented effectively.”
You will find the 30C Tax Credit Eligibility Locator Map here.
Argonne also has a helpful FAQ about the 30C tax credit here.
Read more: Here's how much money you'll get from the Inflation Reduction Act
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