Sept. 18, 2024
Today, the U.S. Department of the Treasury released proposed guidance that clarifies the federal tax credit for Alternative Fuel Vehicle Refueling Property, also known as section 30C. About two-thirds of Americans are eligible for a credit of up to 30% of the cost of EV charging infrastructure and installation. The credit is available to individuals, businesses and tax-exempt entities located within non-urban and low-income census tracts.
One of the biggest barriers to EV adoption is the lack of access to EV charging. These tax credits will directly address this barrier by making EV charging installations more affordable while creating jobs, lowering transportation costs, strengthening energy security and reducing vehicle pollution.
The proposed guidance specifies that up to 30% of the cost of installing EV charging infrastructure–including installation costs and expenses related to the charger itself such as mounting hardware, panel upgrades, and conduit and wiring–can be claimed as a federal tax credit. Up to $1,000 can be claimed by individuals and up to $100,000 can be claimed by businesses and tax-exempt entities. In addition, the tax credit can be used toward energy storage associated with EV chargers, such as batteries that support charger and grid resilience and efficiency while reducing electricity costs.
“Plug In America’s 2024 EV Driver Survey found that public charging access has persisted as a concern among EV drivers and intenders,” said Ingrid Malmgren, senior policy director at Plug In America. “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.”
About Plug In America
Plug In America is the nation’s leading nonprofit organization dedicated to accelerating the use of plug-in electric vehicles in the United States through education, advocacy and research. Formed in 2008, Plug In America provides practical, objective information to consumers and dealerships about EVs through various programs, including National Drive Electric Week, Drive Electric Earth Month, PlugStar.com, and other public outreach events. Learn more at PlugInAmerica.org.
Media contact: Lindsey Perkins
