Residential Electric Vehicle Charging Incentives
Installing an electric vehicle (EV) charging station at home provides the convenience of charging your vehicle whenever needed and offers substantial financial benefits. Many homeowners may be eligible for various federal and state-level incentives that help make the transition to home charging more affordable. These incentives come in tax credits, rebates, and special rate programs that can significantly offset the initial costs of purchasing and installing an EV charger. By taking advantage of these programs, EV owners can save hundreds, if not thousands, of dollars while enjoying the ease of charging their vehicle overnight at lower electricity rates. Below, we’ve compiled a guide to the available federal incentives and state-specific programs to help you maximize your savings and make an informed decision about installing a home EV charging station.
Thanks to the Inflation Reduction Act of 2022, consumers who install an EV charging station at their primary residence may qualify for a federal tax credit. Known as the 30C tax credit, this incentive provides up to 30% of the installation cost, up to $1,000. Your home must be in an eligible census tract, typically a low-income or non-urban community, to qualify. You can verify your eligibility using the 30C Tax Credit Eligibility Locator from Argonne National Laboratory.
The 30C tax credit is available until 2032, giving homeowners plenty of time to take advantage of this opportunity. To claim the credit, file Form 8911 with your federal tax return.
Federal Tax Credits for Home EV Charging Stations
State Incentives for Home EV Chargers
Maine EV Charging Incentives
Maine does not offer a state-specific incentive for home EV charger installation. However, residents can still benefit from the federal tax credit and may find additional resources through local utilities or energy programs.
New Hampshire EV Charging Incentives
The New Hampshire Electric Co-op (NHEC) offers a time of use (TOU) rate for EV owners who can meter their EV charging separately. This rate allows you to charge your vehicle during off-peak hours at a lower cost, helping you save on energy bills.
NHEC also provides up to a $300 incentive for installing a Level 2 or larger charging station, with a maximum of two chargers per account. The total possible incentive per customer is $600.
Vermont EV Charging Incentives
Burlington Electric Department (BED) offers a time-of-use (TOU) rate for customers who own an EV and install a WiFi-enabled EV charger. Additionally, BED provides up to $900 in rebates for purchasing and installing qualifying EV chargers. To qualify for the rebate, you must enroll in BED’s Residential EV Rate and purchase your charger within 60 days of acquiring your EV.
Green Mountain Power (GMP) offers a free Level 2 EV charger to customers who purchase a new or used all-electric vehicle and enroll in their Home Charging Program. This program also provides discounted EV charging rates. To qualify, you must be a GMP customer, own your home or have landlord approval, have reliable internet access, and ensure your vehicle is registered with the Vermont DMV at your GMP address.
Vermont Electric Co-Op (VEC) provides a free Level 2 charger to members who enroll in their charging communications platform, which helps manage charging during peak demand times. Members can also receive $8 monthly for not opting out of peak-demand events.
Washington Electric Co-Op (WEC) offers eligible participants a Level 2 Charger and a $500 Efficiency Vermont rebate after installation. The charger must be connected to the internet and scheduled to charge during off-peak hours, helping to reduce strain on the grid and operational costs.
EV Ownership Benefits
Electric vehicles (EVs) come with a range of benefits, especially when it comes to at-home charging incentives. Many federal and state programs offer significant tax credits and rebates that help reduce the cost of purchasing and installing a home charging station, making it more affordable for EV owners to charge conveniently at home. These incentives can lower the upfront investment and contribute to long-term savings by eliminating the need for public charging fees. Home charging allows EV drivers to charge overnight when electricity rates are lower, providing even greater cost savings.
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