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EV Charging Station are Basically Free after Federal Tax Incentives

I thought it appropriate to re-share some news regarding the tax incentives for personal and business EV Charging Stations as this is something I firmly believe in, and actively promote to my customers as it ensure their vehicles are equipped to handle public EVSEs as well as added safety for their home charging needs. Give that most home units are under $1000 dollars, it means that for the most part EVSEs are technically free after the layout and waiting for the credit.

The recent fiscal cliff deal passed by Congress includes tax credits for purchase and installation of an electric vehicle charging station. The Section 30C credit for Alternative Fuel Vehicle Refueling Property includes a credit of up to $1,000 for purchase and installation of a charging station for personal use.Additionally, Section 30C includes a 30 percent credit, capped at $30,000 for business/investment use per site. Let your employer or favorite retailer know that businesses planning to install EV charging stations in 2013 can qualify for up to $30,000 in tax credits per site.

According to Cornell University Law Website:

26 USC § 30C - Alternative fuel vehicle refueling property credit

(a) Credit allowed

There shall be allowed as a credit against the tax imposed by this chapter for the taxable year an amount equal to 30 percent of the cost of any qualified alternative fuel vehicle refueling property placed in service by the taxpayer during the taxable year.
 
(b) Limitation
The credit allowed under subsection (a) with respect to all qualified alternative fuel vehicle refueling property placed in service by the taxpayer during the taxable year at a location shall not exceed—
      (1) $30,000 in the case of a property of a character subject to an allowance for depreciation, and
      (2) $1,000 in any other case.


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