The maximum federal tax credit for home EV charging installations is 30% of the total cost (hardware + installation), capped at $1,000, for residential installations. For business or commercial installations, the credit remains 30% of costs but has a higher cap of up to $100,000 per charger (for projects completed after 2022).
Key details:
- Residential: $1,000 maximum.
- Business: Up to $100,000 per charger.
- Eligibility: Charger installations must be completed by Dec. 31, 2032.
- How to claim: Use IRS Form 8911 when filing taxes.
For home installations, this means a $3,333 total expense would yield the full $1,000 credit (30% of $3,333 ≈ $1,000).
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/what-is-the-maximum-amount-i-can-receive-from-the-federal-tax-credit-for-ev-charging/
