Additional clarity on PSE&G providing up to $1500 for EVSE install

RMoore

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After reading about this on a different thread (see posts 10, 12, 13) I went to the link provided by @NewGuy but found it a bit short on detail so emailed PSE&G a few questions ([email protected]). On the application on their website it is clear that you need to provide them with the make and model of the EVSE in addition to other details including the electrician's name. One question I asked was whether there were requirements for the EVSE and the answer was yes:

Right now the program is limited to two charger manufacturers (Chargepoint and Juicebox). Unfortunately, the program cannot provide any rebates if the customer does not have a charger from one of the approved manufacturers.

Here are some other points that were provided:

No, you do not need to change your meter or switch to the RLM rate to participate in the program. However, this is an option if you prefer.

You can enter your application in the EV portal before you have installed the charger to pre-qualify you for the program, but you will not be able to be fully enrolled until the charger is installed. We do recommend that you at least order your charger before applying so you have the information about the specific charger you will install. You can also have all the work done and apply after. Either way will work.

Once you application is submitted along with all of the required documentation, a teammate will evaluate to determine the reimbursement amount. The rebate will be processed onto your PSE&G bill.


So what's interesting is that although PSE&G won't pay for the charger itself, they will cover the cost of the install up to $1500 but only if you buy one of those two chargers. I'm guessing that their rationale is that those chargers can send data back to PSE&G on charging usage and that's useful to them. The feedback changes how I think about this benefit a bit. I was initially not planning to buy a charger and just use the one that comes with the MME since it should be adequate for my needs (I get free L2 charging at work and don't have a long commute). But if I choose not to buy a charger then PSE&G won't cover the cost of installing. I don't yet have a sense of how much it would cost to install a 50A line and 14-50 receptacle but once that cost starts to exceed the cost of the charger, I might as well just get a charger too.
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NewGuy

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I had also emailed them some questions and was surprised at how quickly and thoroughly they responded to me.

Regarding the price of the charger itself, I don’t know the specifics yet but the federal government will give you 30% of the cost as a write off, or deduction, or something.

Also, I got a quote for $1200 to install the outlet outside. That included running about 40-50 feet of wire through exposed basement ceiling and a bit outside. I’m kind of surprised the price wasn’t “coincidentally” $1500 even.
 

RickMachE

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This logic is why we bought a JuiceBox 48 here in SE Michigan. Same requirements, has to be ChargePoint or JB, because they data share. We only get $500 back. And then there is the 30% tax credit also, as noted. Keep in mind that if you get a hard wired charger for 48amps, you can easily change the setting to lower, like 30amps, with a few keystrokes in the app.
 
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RMoore

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I had also emailed them some questions and was surprised at how quickly and thoroughly they responded to me.

Regarding the price of the charger itself, I don’t know the specifics yet but the federal government will give you 30% of the cost as a write off, or deduction, or something.

Also, I got a quote for $1200 to install the outlet outside. That included running about 40-50 feet of wire through exposed basement ceiling and a bit outside. I’m kind of surprised the price wasn’t “coincidentally” $1500 even.
Agree, they have been fairly responsive, which is nice. From some additional back and forth with them I learned that over the next several months they anticipate adding other chargers to their list of approved ones. It appears that what's of value to them and why they are helping with the cost of installs, is that they want to understand when people charge, for how long, how much electricity is used, etc and they can only get these data if we use EVSEs that support this data transfer. Unfortunately, the charger that comes with the MME doesn't so if someone was counting on only putting in an outlet, PSE&G won't help there.
 

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One of the eligibility requirements states " (c) a copy of the Uniform Construction Code Form F222-A ". Is this the permit from the township?

Also, Item# 5 states " Incentive Conditions. Participant shall fully disclose all governmental or public funding it has sought or will seek in connection with the Residential Program....". Does the up-to $1,000 Federal tax rebate count as public funding?
 


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RMoore

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One of the eligibility requirements states " (c) a copy of the Uniform Construction Code Form F222-A ". Is this the permit from the township?

Also, Item# 5 states " Incentive Conditions. Participant shall fully disclose all governmental or public funding it has sought or will seek in connection with the Residential Program....". Does the up-to $1,000 Federal tax rebate count as public funding?
I don't know the answer to those but if you email them they are pretty responsive. Sorry, what is the $1000 Fed tax rebate for--other than the $7500 one I'm not up on the benefits from the Fed.
 

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RickMachE

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There is no federal tax rebate.

There is a $7,500 tax CREDIT on the car.

There is a 30% tax CREDIT, up to $1,000, for charger purchase and installation. So you can spend up to $3,333.33 and get up to $1,000.

Both are tax credits. They are non-refundable. If your tax liability is lower than the credits, you lose some of them.
 
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RMoore

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Yep. Guess I will do that.

The federal tax rebate is 30% of the cost of purchasing and installing an EVSE subject to a maximum of $1,000.

About Form 8911, Alternative Fuel Vehicle Refueling Property Credit | Internal Revenue Service (irs.gov)
Got it, thanks. I didn't realize the tax break included the cost of installation, good to know (though that would be covered by PSE&G if one elects to purchase one of the approved chargers). The combination of these two makes it compelling to just buy a charger and use the 30% Fed tax break for the charger and the PSE&G rebate for the electrical work. So if I compare two scenarios, assuming the cost to run wiring for a 50A circuit and install a 14-50 outlet is $1000 (just a guess):

1) Don't buy a charger and just use the one that comes with the MME: get $300 reduction in taxes from Fed for the install, so this ends up costing $700.

2) Buy a charger approved by PSE&G for say $700. Cost of install of $1000 covered by PSE&G, 30% rebate on cost of charger = $210 so net cost to me = $490.

Option 2 seems like a better deal, with lower overall cost and get the extra charger. When the cost of the installation equals the cost of the charger it's a wash cost wise, but option 2 still is better since you also get a charger.

Edit: corrected use of rebate for Fed tax credit.
 
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RMoore

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There is no federal tax rebate.

There is a $7,500 tax CREDIT on the car.

There is a 30% tax CREDIT, up to $1,000, for charger purchase and installation. So you can spend up to $3,333.33 and get up to $1,000.

Both are tax credits. They are non-refundable. If your tax liability is lower than the credits, you lose some of them.
Yes, you're right, I was using imprecise language when saying rebate. I was just thinking of it that way since you have to pay up front but then pay less in taxes later. But point taken and also good to clarify for folks that you have to owe that much in taxes to take full advantage.
 

Porky

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2) Buy a charger approved by PSE&G for say $700. Cost of install of $1000 covered by PSE&G, 30% rebate on cost of charger = $210 so net cost to me = $490.
Actually, for option #2, you will get a federal tax credit on the cost of the install + the cost of the charger, so 30% of $1,700. Which would be $510. So, the net cost to you would be $190.
 
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RMoore

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Actually, for option #2, you will get a federal tax credit on the cost of the install + the cost of the charger, so 30% of $1,700. Which would be $510. So, the net cost to you would be $190.
I don't think you can do that--it would be double dipping. You can't get a tax credit on $1000 if PSE&G already covers that cost. I guess you could argue that no one would know, but technically that would not be kosher.
 

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I don't think you can do that--it would be double dipping. You can't get a tax credit on $1000 if PSE&G already covers that cost. I guess you could argue that no one would know, but technically that would not be kosher.
I don't see any language that prohibits this, other than possibly item#5 in PSE&G's terms and conditions. To me it seems similar to getting a $5,000 check from NJ for purchasing an EV and also getting a $7,500 tax rebate from the federal government.
 
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RMoore

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I don't see any language that prohibits this, other than possibly item#5 in PSE&G's terms and conditions. To me it seems similar to getting a $5,000 check from NJ for purchasing an EV and also getting a $7,500 tax rebate from the federal government.
I don’t really see those as equivalent. The 30% tax credit is intended to partially offset an expense. If PSE&G gives you back an amount equal to that expense it’s no longer an expense. But ultimately I suppose this is something to go over with one’s accountant or tax advisor.
 
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RMoore

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One of the eligibility requirements states " (c) a copy of the Uniform Construction Code Form F222-A ". Is this the permit from the township?

Also, Item# 5 states " Incentive Conditions. Participant shall fully disclose all governmental or public funding it has sought or will seek in connection with the Residential Program....". Does the up-to $1,000 Federal tax rebate count as public funding?
@Porky, just coming back to these--can you point me to where you saw these? I can't find either of these points on the PSE&G site but may not be looking at the same web page as you.
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