Tax credit for EV charger install

[AdmiralYamo]

Been trying to find some info on this if the new IRA bill allows for charging tax credit in 2022 for Sunrun to install the Ford charger for me. Does anyone know if this works in 2022 or do I have to wait to 2023 to do an install to take advantage of it.

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[GarageMahal]

I have been researching it a bit too and from what I can tell the 30% credit is available this year. I'm not a tax accountant however and it is all very unclear.

 

[jefro]

Such a great bill that no one knows who gets what yet.

Someone on this site mentioned that the wording was buried under some other reference for next year for 30%. I thought the prior one ended in Dec 2021.

 

[Firestop]

IMHO, this is pretty simple…they extended this credit until 2032 by amending the expiration date of previously passed law. https://www.congress.gov/bill/117th-congress/senate-bill/975/text

EDIT: https://www.congress.gov/117/bills/hr5376/BILLS-117hr5376enr.pdf (See pages 149 thru 152). Thx @cvalue13 for pointing out my misquoted bill reference

It appears to make a few other amendments, but it does look like they impact the application to residential projects.

I’m neither a lawyer, nor a tax accountant…..just a citizen reading the bill’s applicable text….I could be wrong

 

[DKZB]

Check your state and utility for incentives. Here in NJ it seems that PSE&G may have a credit up to $1500 and the state seems to offer $250.

Im just about to start this journey so haven’t been through all the fine print, hoops and red tape yet but plan on looking into both further for my situation.

 

[LUXMAN]

IMHO, this is pretty simple…they extended this credit until 2032 by amending the expiration date of previously passed law. https://www.congress.gov/bill/117th-congress/senate-bill/975/text

It appears to make a few other amendments, but it does look like they impact the application to residential projects.

I’m neither a lawyer, nor a tax accountant…..just a citizen reading the bill’s applicable text….I could be wrong

So this would seem to apply to this year and not have any income limits on it for this year or beyond...
I am not planning on installing another wall charger or FCSP (I have been my old LEAF Aero-Vironment one with my Tesla for 4+ years on a 6-50 plug), but garage location wise and convenience sake, I could run a new 14-50 outlet to use the mobile connector.....

 

[Firestop]

So this would seem to apply to this year and not have any income limits on it for this year or beyond...
I am not planning on installing another wall charger or FCSP (I have been my old LEAF Aero-Vironment one with my Tesla for 4+ years on a 6-50 plug), but garage location wise and convenience sake, I could run a new 14-50 outlet to use the mobile connector.....

That’s how I read it…I will be taking my billing & payment receipt for my electrician’s bill for installing my FCSP to my accountant at tax time in addition to the Truck’s purchase documents come tax time…….

 

[cvalue13]

people also may be confusing the corporate deduction from the residential/retail credit

Are people also possibly confusing incentives for EV chargers with instead incentives for home electrical/panel upgrades?

Such a great bill that no one knows who gets what yet.

could instead be both that:

(1) you’ve never paid such close attention to know that laws are written and work this way, and

(2) people here that are neither lawmakers nor tax professionals are all attempting by collective brain trust to predict prematurely how the IRS will implement these new laws before the IRS has issued any such guidelines, which is normal course for such laws

So much bellyaching could be avoided here

 

[AdmiralYamo]

Well this does confirm a lot of my headaches that home charging credits are a little fuzzy and not so straight forward like the price caps

 

[cvalue13]

Well this does confirm a lot of my headaches that home charging credits are a little fuzzy and not so straight forward like the price caps

well, I think you don’t see a lot of media discussion on it because, as others have noted, I believe the residential/individual credit remains unchanged: 30% up to $1,000 (though I believe you can get up to $2,000 if you move in a tax year and have installed in both the old and new home).

the media etc discussions are focused instead on the things that did change, which are relevant instead to commercial/business credits for charging stations (not until 2023)

that said, there are a number of new homeowner-focused credits that might also be implicated by the installation of a charger to create some double-dip scenarios, but that may not take effect until 2023 (eg credits for home electrical/panel upgrades), but also have other metrics of qualification (income levels, offsets, etc.)

so, the optimal tax advice for an individual could be … individual …. And benefit from advice from a tax professional familiar with the area of law as applies to the individual’s facts

 

[Firestop]

Well this does confirm a lot of my headaches that home charging credits are a little fuzzy and not so straight forward like the price caps

well, I think you don’t see a lot of media discussion on it because, as others have noted, I believe the residential/individual credit remains unchanged: 30% up to $1,000 (though I believe you can get up to $2,000 if you move in a tax year and have installed in both the old and new home).

the media etc discussions are focused instead on the things that did change, which are relevant instead to commercial/business credits for charging stations (not until 2023)

that said, there are a number of new homeowner-focused credits that might also be implicated by the installation of a charger to create some double-dip scenarios, but that may not take effect until 2023 (eg credits for home electrical/panel upgrades), but also have other metrics of qualification (income levels, offsets, etc.)

so, the optimal tax advice for an individual could be … individual …. And benefit from advice from a tax professional familiar with the area of law as applies to the individual’s facts

For everyone’s reference, not advice….Part I and Part III apply to residential(non-business)……..

https://www.irs.gov/forms-pubs/about-form-8911

 

[jefro]

"Recent Developments
None at this time.
"

Instructions for Form 8911 (Rev. January 2022)

 

[BennyTheBeaver]

Portland General Electric now requires their qualifying models to be hardwired to get the rebate.

 

[Firestop]

"Recent Developments
None at this time.
"

Instructions for Form 8911 (Rev. January 2022)

Yeah, the IRS still needs to update their forms….plenty of time before tax filing season begins…..

Note: I have edited this post to correct an incorrect reference to the IRA. Thx @cvalue13 for catching my error

 

[sotek2345]

Anyone know if you can claim this a second time for a second EVSE? We claimed it last year for installing one for our Mach-e, but I wouldn't mind getting a little back from adding our FCSP in parallel.

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