Yes, there are several government incentives available to reduce EV charging costs. Here are some of them:
Federal Incentives
- Alternative Fuel Infrastructure Tax Credit (30C): Offers a tax credit of up to 30% of the cost of EV charging infrastructure, with a cap of $100,000 per charging port. This credit is applicable for installations through December 31, 2032, and typically requires the charging station to be located in specific census tracts.
- Residential Tax Credit: Individuals may receive a tax credit of up to $1,000 for purchasing and installing qualified residential EV charging equipment.
State and Utility Incentives
- Pennsylvania: PECO offers grants covering up to 50% of the costs for commercial and public EV charging projects, with a cap of $60,000 for most projects.
- SRP (Arizona): Offers rebates of up to $15,000 per networked DC charging station for 480-volt installations.
- NEVI Program: Provides funding for DC fast-charging infrastructure along major highway corridors, which can cover up to 80% of project costs.
These incentives help reduce the upfront costs of installing EV charging infrastructure, making it more accessible for both residential and commercial use.
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