Can you receive a ? Find out if your battery electric vehicle qualifies, what steps you need to take, and other things to consider before installing an . for installing an
Putting (EV) stations at your facility is a good investment opportunity, especially given the tax credits and incentives available to you. In this article, we will go over ways to save on installing an , what you might be eligible for, and how these initiatives are helping drive .
The federal government offers a stations known as the for for equipment and installation costs. You can receive a of up to 30% of your commercial , infrastructure, and , or up to $30,000. Residential installation can receive a credit of up to $1,000.
The was extended through December 31, 2021. The is retroactive and you can apply for installations made from as far back as 2017. So if you recently installed a home or completed a large-scale project, you might still be eligible for this.
While the federal government can help you lower your tax liability on an , you can cut how much you spend on the chargers and installation expenses through an . EVSE rebates can be offered by utility companies and state agencies. Depending on where your facility is located, you can offset up to 100% of your and installation costs.
Utility Rebates for Commercial
Out of all the entities that offer rebates for , utilities offer the best for businesses and . Reduce the upfront cost of an and capture your before it’s too late. rebates from utilities all have deadlines or have a specific amount of allotted funds available. Once the deadline is reached or funds run out, you can no longer apply for the rebate programs.
Utilities usually offer anywhere from a thousand dollars to tens of thousands of dollars for commercial or home projects. The actual rebate you receive will depend on how robust your utility’s is and what type of EV chargers you are installing. Most utilities offer less for a Level 1 or and more for a . This is mostly due to the fact that a is not as demanding on the electrical grid.
The installation process of the for DC fast chargers is also more complicated due to their need for a larger amount of power distribution. comes with a lot of benefits, such as the ability to charge an in under 30 minutes, but and commercial properties do not require this.
Some programs can cover up to 100% of project costs! Southern California Edison’s Charge Ready program is one such program. How much the program will cover depends on what type of commercial facility it is and if it’s located in a disadvantaged area. You can find out more about the SCE here.
State Incentives for Commercial
Many state organizations offer incentives as well. Yes, these rebates can be used in addition to utility and federal incentives!
State-specific incentives vary in amount, but many can cover a large portion of your and installation – some up to 100% of project costs. For example, the New Mexico Environment Department (NMED) offers rebates for eligible mitigation projects for nitrogen oxides (NOx) emissions. NMED may provide funds up to 100% of the cost to purchase, install, and maintain eligible light-duty .
Some state agencies also offer tax rebates. For example, the New York State Department of Taxation and Finance offers an income of 50% of the cost of infrastructure, up to $5,000 through the and recharging property credit. Learn more about state-specific rebates in our ultimate guide to commercial .
County and regional organizations also offer rebates and incentives for commercial . For example, the ChargeUP! Sarasota County program in Florida offers rebates for businesses, non-profits, and local governments in the county that buy and install stations. Businesses are eligible for rebates of up to 25 percent of the cost, up to $2,0000 per .
How much can you get in business tax credits for ?
As you may have figured out from this article, there are many different ways to save on commercial stations. Different entities offer incentives, rebates, and tax credits for your stations and their installation.
It is easy to become confused when you are trying to figure out which rebates and tax credits you are eligible for and how to apply for them. We can help with that! Connect with one of U.S. EV specialists to find out how much you can save: Recovery’sSchedule a Call.