2022 EV Charging Tax Credits

Navigating EV Charging Tax Credits This Tax Season:

Mother and son enjoy the benefits of having an EV charger such as tax credits.

Are you looking for ways to save on your 2022 taxes? If you installed electric vehicle charging stations at your home or business in the last year, you may qualify for significant federal tax credits!

We have put together a quick cheat sheet to help you understand if you may qualify, so please read on to find out more. We are not tax experts, therefore we cannot guarantee that a business will receive tax credits for their installations. 

Installations completed before December 31, 2022

For Businesses:

Businesses that installed their EV charging infrastructure before the end of 2022 may be eligible to receive federal tax credit for 30% of total project fees, up to $30,000 per site.

In order to claim credit on your 2022 tax return, fill out the Form 8911, which you can find here

For Individuals:

Individuals who installed an EV charger at their home before the end of 2022 may be eligible for a credit of 30% of the hardware and installation costs, up to a maximum of $1,000. The same IRS form, Form 8911, should be used by homeowners to apply for the credit.

Installation completed after January 1, 2023

Looking ahead to tax year 2023, the Inflation Reduction Act created a new qualification structure for businesses hoping to receive federal tax credits for EV charging installations. Qualifying businesses will need to be located in designated census tracts and follow prevailing wage standards, but the possible credit available will now be up to $100,000 per unit, rather than up to $30,000 per property. You can learn more about next year’s qualifying requirements here.

EnviroSpark’s mission is to make EV Charging accessible for everyone, which means bringing charging to everywhere you live, work, and play. If you’d like to learn more about how we can help you bring charging to your property or business, click here to contact us and set up a free EV charging consultation!