The U.S. Department of the Treasury announced a new policy that gives consumers and businesses access to federal tax credits that reduce the cost of installing electric vehicle (EV) charging stations. And the U.S. Department of Energy published maps that make it easy for people to determine which census tracts will be eligible for these critical tax credits.
To address climate and local air pollution, we must plug our cars, trucks, and buses into increasingly clean electricity. To do that, we need more plugs. The guidance issued today will make it significantly cheaper to do that, providing individuals up to $1,000 to install charging at home and businesses up to $100,000 to install commercial charging equipment.
The Inflation Reduction Act extended the Section 30C tax credit and increased the maximum amount that businesses could claim, but it also restricted…