Biden Administration Proposes Expanded Tax Credits for EV Chargers

New Treasury rule aims to boost EV adoption by offering significant tax incentives for installing charging infrastructure.

The proposed rule would provide tax credits up to $1,000 for individuals and $100,000 for businesses for each EV charger installed.
The 2022 Inflation Reduction Act and 2021 infrastructure law aim to expand EV charging access, with a goal of 500,000 public chargers by 2030.
The new rule clarifies that tax credits apply to individual charging ports, not just multi-port installations, enhancing credit eligibility.
Advocates say the expanded credits could accelerate the transition to electric vehicles, reduce transportation emissions, and create jobs.
The proposed rule will be open for public comment until mid-November, with a potential public hearing if requested.