There are several financial incentives available to buyers of EV charging stations, depending on the location and specific circumstances.
GOVERNMENT INCENTIVES
Federal
● Consumer: directly reduce your tax bill with
an up to $7,500 tax credit when you buy or
lease an EV
● Commercial: receive credit for 30% of EV
charging station purchase and installation
cost, up to $30,000
State
● Many states now offer tax incentive and
rebates for EVs and/or charging stations
● Many utility and local governments offer
rebates for commercial charging
Federal tax credits
The federal government offers a tax credit of up to 30% of the cost of a qualifying EV charging station, with a maximum credit of $1,000 for residential installations and up to $30,000 for commercial installations
Utility company programs
Some utility companies offer programs that provide rebates or discounts to customers who install EV charging stations. These programs can help offset the cost of installation and may be available in addition to state or federal incentives.
State and local rebates
Many states and local governments offer rebates or incentives to individuals or businesses that install EV charging stations. The availability and amount of these incentives can vary greatly depending on the location.
Workplace EV charging incentives
In some cases, employers may be eligible for incentives to install EV charging stations at their workplace. These incentives can help encourage employees to drive electric vehicles and can also help attract and retain employees who value sustainability.
Federal Tax Credits Financial Incentives Available To Buyers
The federal government offers a tax credit for the purchase and installation of EV charging stations. The tax credit is available for both individuals and businesses who purchase and install qualifying charging equipment.
The tax credit covers up to 30% of the cost of the charging equipment, with a maximum credit of $1,000 for residential installations and up to $30,000 for commercial installations.
To qualify for the tax credit, the charging equipment must be installed at a location in the United States and meet certain requirements. The equipment must be used primarily for charging plug-in electric vehicles, and must have a minimum capacity of 30 amps.
In addition to the federal tax credit, there may be state and local incentives available for EV charging station installations. It’s always a good idea to research the available incentives in your area and consult with a professional installer to determine the best options for your needs.
Utah State and Local Rebates Financial Incentives Available To Buyers
Utah offers a variety of incentives and rebates for both EV charging stations and EV cars. Here are some examples:
- Electric Vehicle Supply Equipment (EVSE) Tax Credit: Utah offers a state tax credit of up to 75% of the cost of a new EVSE, up to $1,500 for individuals and $10,000 for businesses. This credit is available through December 31, 2022.
- Charge Ready Utah: This program offers incentives for businesses to install EV charging stations in Utah. The program provides up to 50% of the cost of the charging station and installation, up to a maximum of $2,500 per connector.
- Utah Clean Air Grant: This grant program provides funding to local governments, non-profit organizations, and businesses to help support projects that improve air quality. Funding can be used for a variety of projects, including the installation of EV charging stations.
- Alternative Fuel Vehicle Tax Credit: Utah offers a state tax credit of up to $2,500 for individuals and businesses who purchase or lease a new EV.
- High Occupancy Vehicle (HOV) Lane Access: In Utah, EVs with white Clean Fuel license plates are eligible for HOV lane access, even with only one occupant.
These are just a few examples of the incentives and rebates available in Utah. It’s always a good idea to research the available incentives in your area and consult with a professional installer or car dealership to determine the best options for your needs.
Not in Utah?
Most states offer incentives for EV charging stations and vehicles. Reach out to us for more information.
Utah Utility Company Program Financial Incentives Available To Buyers
In Utah, several utility companies offer financial incentives for customers who install EV charging stations. Here are some examples:
Rocky Mountain Power: Rocky Mountain Power offers a rebate of up to $3,000 for residential customers and up to $5,000 for commercial customers who install Level 2 EV charging stations.
Utah Associated Municipal Power Systems (UAMPS): UAMPS offers a rebate of up to $4,000 for residential customers and up to $7,500 for commercial customers who install Level 2 EV charging stations.
City of St. George: The City of St. George offers a rebate of up to $500 for residential customers who install a Level 2 EV charging station.
City of Park City: The City of Park City offers a rebate of up to $750 for residents and up to $1,500 for businesses who install Level 2 EV charging stations.
It’s important to note that the availability and amount of incentives can vary depending on the utility company and the location. It’s always a good idea to research the available incentives in your area and consult with a professional installer to determine the best options for your needs.
Not in Utah?
Most utility company’s across the united states offer incentives for EV charging stations and vehicles. Reach out to us for more information.
Workplace EV Charging Financial Incentives Available To Buyers
In addition to federal and state incentives for EV charging stations, there are also financial incentives available for businesses that install workplace EV charging stations. Here are some common examples:
Employee Incentives: Some businesses offer incentives to employees who drive electric vehicles, such as free charging or preferred parking spots.
Workplace Charging Tax Credit: The federal government offers a tax credit of up to 30% of the cost of a qualified charging station for businesses. The maximum credit is $30,000 for commercial installations.
Alternative Fuel Infrastructure Tax Credit: The federal government also offers a tax credit of up to 30% of the cost of alternative fuel infrastructure, including EV charging stations.
Grants and Loans: Some states and local governments offer grants and loans to businesses that install workplace EV charging stations. These programs can provide funding for a portion of the installation costs or for the purchase of the charging equipment.
Utility Company Programs: As mentioned earlier, many utility companies offer programs that provide rebates or discounts to customers who install EV charging stations. These programs can also be available to businesses that install workplace charging stations.
It’s important to note that the availability and amount of incentives can vary greatly depending on the location and specific circumstances. It’s always a good idea to research the available incentives in your area and consult with a professional installer to determine the best options for your needs.