30% Federal Tax Credit for EV Charging

By January 5, 2016Blog

On Friday, December 18, 2015, President Obama signed the Consolidated Appropriations Act of 2016 (H.R. 2029). Division Q, the Protecting Americans from Tax Hikes Act (PATH Act), retroactively extending the tax credit for EV charging infrastructure for 2015 and going forward for 2016 (www.afdc.energy.gov)

There are several PATH Act provisions with potential implications for our customers and partners, but the key provisions related to EV charging are:

Alternative Fuel Infrastructure Tax Credit, Section 182 extends the tax credit for alternative fuel infrastructure through December 31, 2016. Fueling equipment and related infrastructure for electricity are eligible for a tax credit of 30%, up to $30,000.

* Retroactive for EV Charging Infrastructure placed in service in 2015.  This means if you installed EV charging in 2015, you can take advantage of this credit for your investment.

* Residential fueling equipment may receive a tax credit up to $1,000.

Feel free to contact us should you have any questions, or consult your tax advisor for specific impact on your business.

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