The Biden administration will use a broad legal interpretation to provide tax credits to EV charging projects in a large swath of the country.
The Treasury Department on Friday released additional guidance providing more specific information on what projects will qualify for the revived 30C tax credit. Re-enacted under the Inflation Reduction Act (IRA), the 30C credit will cover up to 30% of the cost of charger installations (up to $100,000) for individuals and businesses in “eligible census tracts.” The new guidance provides clarification on that eligibility.
The focus will be on “low-income communities and non-urban areas,” according to a White House press release, but the administration expects the tax credit to be available in areas representing approximately two-thirds of the U.S. population.
Highway sign for electric-car fast-charging station at BP in Metrolina area of…
Read full article originally published on www.greencarreports.com