Unlock Financial Incentives for EV Charger Installations: A Guide for DieHard Businesses and Individuals

Navigating the various financial incentives available to help you maximize your savings when installing an EV charger for your business or home is a daunting task. With options like federal tax credits, state rebates, and utility company discounts (oh my!), how do you maximize your savings??

In this guide, weâ€™ll break down the most lucrative incentives and provide the resources you need to confidently move forward with your EV charger installation.

Commercial vs. Residential Incentives

While both businesses and individuals can benefit from EV charger incentives, the programs and savings often vary.

Commercial Installations: These tend to qualify for larger grants and rebates, especially for Level 2 and DC Fast Chargers, as businesses often provide public or workplace charging solutions. Commercial programs prioritize chargers in locations like retail centers, offices, and multi-unit dwellings.
Residential Installations: Individuals installing chargers at home are more likely to qualify for tax credits or rebates, with most programs favoring Level 2 chargers. However, residential incentives are typically smaller than those for commercial projects.

Federal Financial Incentives for EV Chargers

The federal government offers a variety of programs to promote the expansion of EV charging infrastructure. Here are the most lucrative:?

Alternative Fuel Infrastructure Tax Credit:

This tax credit allows businesses and individuals to claim up to 30% of the cost to purchase and install EV charging stations, with a cap of $100,000 per station. This is one of the most substantial incentives available for EV chargers.?

To apply for this tax credit, follow these steps:

Purchase and install a qualifying EV charger on a U.S.-based property.
Save all receipts for the equipment and installation costs.?
When filing taxes, complete IRS Form 8911 to calculate your eligible credit (thatâ€™s where the 30%, $100,000 cap comes in).
Attach the IRS Form 8911 to your federal tax return.

If for some reason your tax liability is reduced to less than $0, any unused portion can be carried forward to future years.?

Grant Programs:

Federal agencies, such as the U.S. Department of Energy, offer grants to businesses and municipalities for EV infrastructure projects. While these are often competitive, they can provide substantial funding for large-scale installations.

Ideal for large-scale installations or municipal projects.
Helps fund up-front costs for building EV infrastructure.

Workplace Charging Incentives:

Some federal programs also offer incentives specifically targeted at workplaces, encouraging businesses to install chargers for employees.?

One example is the EV Charge Network initiative offered by Pacific Gas & Electric (PG&E) in California.? PG&E covers up to 75% of the costs for infrastructure installation, such as electrical upgrades, that are required to support EV chargers at work places. Along with workplace settings, they also support EV charger installations at multi-unit dwellings, like apartment complexes. For more details, you can visit the PG&E EV Charge Network website.

Designed to encourage businesses to install EV chargers for employees.
Can make your workplace more attractive to eco-conscious employees.
Qualifies for both public and private business locations.

We recommend checking back regularly as new green infrastructure initiatives are introduced. For more information, visit the U.S. Department of Energyâ€™s website.?

Utility Company Incentives

In addition to government programs, utility companies across the country offer a range of incentives to support EV charging infrastructure. These incentives may include rebates for installation, discounts for time-of-use (TOU) electricity pricing, or support for making upgrades to handle increased power demands.

Companies like PG&E in California and Con Edison in New York offer rebates for installing EV chargers, making it even easier to set up charging stations. Check with your local utility provider to explore these savings.

How to Apply for EV Charger Incentives

While each incentive program has its own application process, the best approach is to start by contacting your local utility company or visiting federal and state energy department websites. The process usually involves submitting documentation of the purchase and installation, along with proof of compliance with program requirements.?

For state-specific incentives, visit the Alternative Fuels Data Center, which aggregates state and local incentives by region?to guide you through available resources. States with strong EV initiatives, like California, New York, and Colorado, often have robust programs that further reduce costs.

DieHard EV Chargers and Financial Incentives

DieHard UL-certified Commercial DC Fast Chargers qualify for many of these incentives, making them an excellent option for businesses looking to maximize their return on investment.?

Future of EV Charger Incentives

With federal and state governments continuing to prioritize green infrastructure, incentive programs for EV chargers are expected to expand in the coming years. Keep an eye on upcoming legislation that could further boost savings for businesses and individuals alike. DieHard, known for providing reliable power for over 50? years,? DieHard EV Charging helps businesses maximize savings through these available rebates and credits. For businesses and individuals alike, installing a DieHard charger is an investment in the future of transportation.?????????

?????????????????????????????

Get Started Today!

Ready to take advantage of these incentives and install EV chargers at your business or home? Contact DieHard EV Charging for a consultation, and let us guide you through the process of installing a charger that fits your needs.

NOTE: This blog was written and published on October 2nd, 2024. Please refer to the sources cited throughout this blog for the latest incentives, as things may change over time.