Plug In America, a nonprofit organization dedicated to accelerating the use of plug-in electric vehicles in the United States through education, advocacy and research, issued a statement following the U.S. Department of the Treasury and Internal Revenue Service release of proposed guidance that clarifies the federal tax credit for Alternative Fuel Vehicle Refueling Property.
“Plug In America’s 2024 EV (electric vehicle) Driver Survey found that public charging access has persisted as a concern among EV drivers and intenders,” Ingrid Malmgren, Plug In America senior policy director, said. “We commend the Biden-Harris administration for their thoughtful approach in developing this guidance that supports comprehensive and resilient charging infrastructure buildout nationwide. This guidance will help America accelerate toward widespread, equitable access to EV charging and encourages confidence in driving electric.”
Up to 30 percent of the cost of installing EV charging infrastructure can be claimed as a federal tax credit. This includes installation costs and expenses related to the charger itself such as conduit and wiring, panel upgrades, and mounting hardware.
The credit also can be used for energy storage associated with EV chargers. This includes batteries that support charger and grid resilience and efficiency while reducing electricity costs.
Individuals can claim up to $1,000, and businesses and tax-exempt entities can claim up to $100,000.