When you buy an electric vehicle, you may also want to install a charger in your home; luckily, there is a way to do this and save money.
The scoop
A new EV owner posted in r/evcharging to ask about what the Inflation Reduction Act covers for installing a charger in their home.
The OP said: "My question is, does 'installation' include upgrading electrical boxes and upgrading the electric wire from the house to the garage? Or just installation of the actual EV charger itself?"
Redditors came to their aid.
"Yes, the tax credit will cover necessary 'infrastructure' upgrades that are associated with installing the EVSE," an electrician wrote.
Another Redditor said: "Please look up the actual form that you need to submit to the IRS when you claim this credit."
After going through the form, this user found they didn't qualify for a tax rebate.
While it may seem daunting to work through legal jargon, Rewriting America has a simple tool, the incentive calculator, that will tell you just how much money you can get back for installing an EV charger in your home. It's a simple process. Just answer seven questions about where you live and if you own or rent. The tool will also tell you which tax rebates you qualify for based on your income and other information.
How it's working
Taking advantage of the IRA tax incentives will make switching to an EV easier. And investing in an electric vehicle will also save you money in the long run — $1,500 annually on gas and maintenance.
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If you were going to purchase an EV which of these factors would be most important to you? Click your choice to see results and speak your mind. |
Good driving range 🔋 You're not just saving money by driving an EV, but you are also helping improve your community's air quality. A University of Southern California study found that asthma-related emergency room visits were reduced by 3.2% for every 20 EVs per 1,000 people.
Unfortunately, the future of the tax rebates is uncertain, as President Donald Trump wants to eliminate them. So, if you want to take advantage of them, now is the time.
What people are saying
In the comments, Redditors had even more advice for the homeowner.
"Click the map of eligible locations link in the IRS webpage of your link," one user said. "You'll see that the number of locations eliminated is actually not that much because the Biden administration REALLY broadly construed what could be eligible."
Another wrote: "Also, check with your power company. They may also have a rebate you can get. Mine has $250."
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