Inflation Reduction Act: home EV charger credit is back?

[sevengroove]

Hi friends, in the whirlwind of the IRA being signed into law and getting our binding agreements signed with Rivian, I failed to notice that apparently the federal 30% EVSE tax credit is also being revived. How it's being reported on is confusing though. For example, this article states:

The Alternative Fuel Refueling Property tax credit is extended through December 31, 2032.

For home EV charging station installations, the tax credit is 30% of the costs of hardware and installation for qualified property, like EV chargers.

But this article contradicts the above:

the Section 30C tax credit will come back into force for charging stations placed in service after December 31, 2022.

and does not make the distinction between businesses and home owners, alluding to the fact that a bunch of new requirements might be applicable to homeowners.

I just want to know if I am eligible for a 30% tax credit if I install an EVSE between now and the end of this year, and if there are any requirements above what was originally in section 30c that I will need to adhere to. Any input would be much appreciated!

Also, here is the final text in full for the IRA (do a Ctrl F for 30c for the relevant section). I find it hard to understand though: https://www.congress.gov/bill/117th-congress/house-bill/5376/text

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[bael]

I haven’t read I everything with it - this site has a take that it’s in force

https://briteswitch.com/news/federal-tax-credit-for-ev-chargers-renewed.php

 

[sevengroove]

Thanks, this is actually quite clearly written. Also looks like there is a prevailing wage requirement that applies to residential installs:

Homeowners who install EV chargers on their property also qualify for a tax credit. The tax credit covers both hardware and installation costs. The credit remains the same under the new bill; 30% of the project costs up to $1,000. Some new additions include the requirement of paying a prevailing wage for the installation of qualifying equipment and allowing bi-directional charging equipment.

 

[TollKeeper]

I may have missed it, but does it have to be installed by the end of the year?

 

[Gamma rays]

I asked about this on an old thread in the charging subforum. Either no one noticed because it was such an old thread or no one bothered.

It would be great if it has been renewed because I need to get one installed within the next year in preparation for my R1S. Has anyone seen the actual language in the law that mentions this tax credit has indeed been revived?

GR

 

[sevengroove]

I may have missed it, but does it have to be installed by the end of the year?

Nope, it has been extended out to Dec 31 2032.

I asked about this on an old thread in the charging subforum. Either no one noticed because it was such an old thread or no one bothered.

It would be great if it has been renewed because I need to get one installed within the next year in preparation for my R1S. Has anyone seen the actual language in the law that mentions this tax credit has indeed been revived?

GR

I linked to the law’s text in my OP. The language on the IRS page hasn’t been updated though, but I reckon that should happen before the turn of the year.

 

[astonius]

Since it’s an extension of the credit which expired at the beginning of this year does that mean those of us who installed EVSEs at any point this calendar year are eligible as well?

 

[Gamma rays]

Nope, it has been extended out to Dec 31 2032.

I linked to the law’s text in my OP. The language on the IRS page hasn’t been updated though, but I reckon that should happen before the turn of the year.

Legalese isn't my strong suit. Besides, my interpretation is meaningless if the pros don't agree!
That's why I am hoping someone with a strong background in this stuff can offer his/her opinions.

GR

 

[bael]

Since it’s an extension of the credit which expired at the beginning of this year does that mean those of us who installed EVSEs at any point this calendar year are eligible as well?

From a quick read, it sounds like it may as it replaces the end dates and then has some other provisions added - some of which is impactful by date possibly

 

[sevengroove]

Legalese isn't my strong suit. Besides, my interpretation is meaningless if the pros don't agree!
That's why I am hoping someone with a strong background in this stuff can offer his/her opinions.

GR

You and me both

 

[jeeden]

But the language sounds like we can't do a self install and had to pay someone? Also sounds like it has to be a 100a charger or something that can do vehicle to house? So not my area of expertise....

 

[sevengroove]

But the language sounds like we can't do a self install and had to pay someone? Also sounds like it has to be a 100a charger or something that can do vehicle to house? So not my area of expertise....

I think your first statement is right, unless you "invoice" yourself at prevailing wage and pay taxes on how much you pay yourself (although that's pretty shady). You can certainly get 30% on the EVSE though.

The second statement is not true, the V2H is just one more type of install that is now allowed under this credit. It doesn't have to be the only type of install.

 

[SANZC02]

Here is one site with some info, this entire bill appears to be written to make it virtually impossible to decipher. This site says there are location designations for affordable housing and urban requirements. we might have to wait for the form to be updated to fully understand it. It does seem like it is for charger installed after 12/31/2022.

 

[sevengroove]

Here is one site with some info, this entire bill appears to be written to make it virtually impossible to decipher. This site says there are location designations for affordable housing and urban requirements. we might have to wait for the form to be updated to fully understand it. It does seem like it is for charger installed after 12/31/2022.

I agree it is confusing - although my sense after reading multiple confusing articles is that those location designations primarily apply to commercial installations, not home installations. The eligible dates are also construed differently depending on what article you read.

 

[jeeden]

I think your first statement is right, unless you "invoice" yourself at prevailing wage and pay taxes on how much you pay yourself (although that's pretty shady). You can certainly get 30% on the EVSE though.

The second statement is not true, the V2H is just one more type of install that is now allowed under this credit. It doesn't have to be the only type of install.

Oh I see we would just claim the discount on the hardware (installation would be separate). I would be happy with that at least.

Hopefully turbo tax will know (or a tax guy, I need to get one, tired of doing them myself)

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