Get Tax Credits Just for Installing EV Chargers!
Over the last several years, several models of electric vehicles have been introduced into the market, and their popularity has been sharply increasing. Electric vehicles are only gaining in popularity, and it’s important that the infrastructure necessary for charging these vehicles is put in place as more and more of them are driven.
At Nextgen Electric, our goal is to help create that new infrastructure while also meeting the needs of our clients and exceeding their expectations. Installing a new electric vehicle charging station can be very beneficial to you, whether it’s at a residence or a commercial property, and our professionals can make sure that you receive the highest quality products and most reliable installation.
Along with the benefits that you’ll get from simply installing a new electric vehicle charging station, there are also some great government incentives that you can receive.
Commercial Federal Government Incentives
A business or commercial entity that installs electric vehicle charging stations may be eligible for a tax credit of 30% of the costs up to $30,000. This credit may be applied to EV charging stations installed between January 1, 2015 and December 31, 2016. This credit can be applied to each commercial site at which EC chargers were installed.
Residential Federal Tax Credit
If you purchase and install an EV charger for your home, you may eligible for a tax credit of up to 30% of the costs up to $1,000. This credit may be applied to home EV charging stations installed between January 1, 2015 and December 31, 2016.
New York State Alternative Fuels Vehicle Recharging Tax Credit
As of 2013, New York State provides an income tax credit for 50% of the cost of an EV charging station installation up to $5,000. This credit is available through December 31, 2017.
NJ EV Charging for Workplace Grant
Employees spend one-third of their day with their car sitting in the parking lot while working. This makes workplaces ideal locations for electric vehicle owners to charge throughout the workday. The Charging Pyramid on the bottom right shows the places electric vehicle drivers charge the most and the commonly used charging infrastructure. The Workplace Charging Grant Program provides grants to employers to offset the cost of purchasing and installing electric vehicle charging stations. This program is designed to support and encourage employees to purchase and drive electric vehicles to work, which reduces vehicle emissions.
Upon completion of work in accordance with the eligibility criteria, NJDEP will reimburse each applicant as follows:
- Up to $250 per Level 1 charging station; and
- Up to $5,000 per Level 2 charging station.
Source: https://www.nj.gov/
If you’re looking for electric vehicle charging stations for your home or business, call Nextgen Electric at 201-321-8949 or complete our contact us form.
