JAN. 22, 2024
LOS ANGELES – On Friday, the U.S. Department of the Treasury announced guidance surrounding the federal tax credit for the Alternative Fuel Vehicle Refueling Property Credit (30C). This guidance specifies that about two-thirds of Americans will be eligible for a tax credit of up to 30% of the cost of EV charging infrastructure. This tax credit is available to individuals, businesses, and tax-exempt entities located within rural and low-income census tracts.
The updated 30C tax credit will accelerate the buildout of affordable and accessible electric vehicle charging infrastructure across the country at homes, workplaces, schools, churches, and businesses. Enhanced infrastructure will build range confidence across the country and is especially focused on helping rural and low-income communities.
One of the biggest barriers to EV adoption is the lack of access to EV charging. These tax credits will accelerate adoption while creating good-paying jobs and expanding access to charging in communities that have to most to gain from electric vehicles.
“Plug In America’s 2023 EV Driver Survey found that access to low-cost home charging was the single most significant economic factor in EV adoption,” said Plug In America executive director Joel Levin. “We commend the Biden administration for their diligence in determining this guidance which maximizes the number of Americans that can benefit from the EV charging infrastructure tax credit.”
“This updated tax credit for EV charging infrastructure helps America accelerate toward widespread, equitable access to electric vehicle charging,” he added.
