The Congress is extending the tax credits for the installation of new electric-vehicles charging stations.
The Alternative Refueling Tax Credit section of IRS Section 30(C) extends the tax credits for EVSE (Electric Vehicle Supply Equipment) and is now available through December 31, 2014. Individuals can deduct 30 percent of the cost of purchasing and installing an EVSE up to $1,000.
A 30 percent credit, up to $30,000, applies to businesses.
States also offer their own incentives for electric-vehicles owners or for the installation of EVSE. For example, the State of Illinois has announced their EV Infrastructure Rebate Program. The program says that you can get up to 50% of the installation cost of an EVSE, up to $3,000. The contingency is to use to use an ICC certified installer.
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If you’re on the market for a new electric vehicle, even if not purchased by December 31st, it is strongly advisable to look into the potential rebates for charging stations.
[Source: GreenCarReports]
