Did you know there's a tax credit for installing a charger and/or wiring?

[RickMachE]

30% back, up to $1,000 total. File form 8911 with your tax return. Didn't buy a charger yet? Buy one and file in 2024 for the credit. https://amzn.to/3GHJ9gX

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[ADDZ71]

30% back, up to $1,000 total. File form 8911 with your tax return. Didn't buy a charger yet? Buy one and file in 2024 for the credit. https://amzn.to/3GHJ9gX

Rick - do you know what period this applies to? I installed a new charger this past November. I presume this was in the IRA and possibly was effective on the passage date of early August. Can you point me to the language?

 

[RickMachE]

Rick - do you know what period this applies to? I installed a new charger this past November. I presume this was in the IRA and possibly was effective on the passage date of early August. Can you point me to the language?

2021 had the credit. Then it expired. IRA renewed it AND backdated it to 1/1/22, and it now expires in 2032. You can Google it.

 

[DadzBoyz]

Here are the IRS forms for 2022:

Form 8911: Alternative Fuel Vehicle Refueling Property Credit (30% EVSE Install Credit)
Form 8936: Qualified Plug-in Electric Drive Motor Vehicle Credit (2022 EV Tax Credit, Pre-Inflation Reduction Act)

Consult your tax preparer.
Side effects may include itchy eyeballs, red ears, spontaneous barking, silly walks (see Ministry of Silly Walks), spontaneous combustion, irritable toes, smelly fingers, and death.
YMMV (Your Mileage May Vary)

 

[phil]

The old charging station credit was useless for anyone paying the Alternative Minimum Tax (AMT). I expect it's the same with the new credit, but someone more knowledgeable could confirm or correct me.

 

[kdonnel]

I took advantage of the credit with my 2020 taxes. If I remember correctly I got 30% back of what I paid the electrician and 30% back of what I paid for the ChargePoint Home Flex.

 

[RickMachE]

I took advantage of the credit with my 2020 taxes. If I remember correctly I got 30% back of what I paid the electrician and 30% back of what I paid for the ChargePoint Home Flex.

Correct. Up to a total of $1,000 credit, so the max total you can spend is $3,333.33.

 

[MW1515]

Also check for state rebates and incentives for EV charging equipment! This could be a rebate instead of a tax credit. As well as incentives from your electric company like rewards for off-peak charging

 

[4sallypat]

Also check for state rebates and incentives for EV charging equipment! This could be a rebate instead of a tax credit. As well as incentives from your electric company like rewards for off-peak charging

When we got our first EV, we got $1000 from our utility in the form of a rebate check.

Now it's gone

 

[MW1515]

When we got our first EV, we got $1000 from our utility in the form of a rebate check.

Now it's gone

Mine gave me $300 for installing a Chargepoint Home and I get an Amazon gift card (not much, but it's something) every few months based on my off-peak charging...

 

[RickMachE]

You can do both. Or more...

I bought a JuiceBox charger because it was one of 2 my utility company would give me a $500 rebate for.

I also applied for the 30% tax credit.

$650 charger
$1,100 electrician
=====
$1,750 total
- $500 rebate
=====
$1,250 x 30% tax credit = $375

Net cost to me of both the charger and electrician = $875

But wait, there's more.

My utility pays me $100 a year ($50 at the start, $50 at the end) to let them control charging 1/2 dozen or less times a month, basically a "don't charge for 2 hours" or "please charge for 2 hours". I'm in year two, so I'm down to $675 net cost.

 

[ThatGuyLando]

Thanks for the wiring tip, was only aware it covered the charger, not the electrician's work.

 

[AKgrampy]

30% back, up to $1,000 total. File form 8911 with your tax return. Didn't buy a charger yet? Buy one and file in 2024 for the credit. https://amzn.to/3GHJ9gX

Thanks! I was going to do a bit of looking before I wrote it off as unavailable. Not that I really need the money but neither does Uncle Sam!

 

[Caramel Mach-e-ato]

If you are in NC and a Duke Power customer, they rebate up to ~$1,106 in installation, wiring and electrical upgrades to your home for the EV charger. You provide an itemized copy of your electrician bill, the completed inspection and your EV registration. Program opened in late May, 22. If you wired prior, you’re not eligible. Info is on their website. . Easy money.

 

[RickMachE]

If you are in NC and a Duke Power customer, they rebate up to ~$1,106 in installation, wiring and electrical upgrades to your home for the EV charger. You provide an itemized copy of your electrician bill, the completed inspection and your EV registration. Program opened in late May, 22. If you wired prior, you’re not eligible. Info is on their website. . Easy money.

And then apply for the 30% tax credit on any remaining cost.

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