Last Gasp Of EV Craziness? New Treasury Rule Proposes $100,000 Per Charger Tax Credit to Boost EV Charger Installations Nationwide

Editors Note: And many folks thought that Cash For Clunkers was a Democratic scam but that was chump change compared to this ...100k fer charger that costs about $45,000 so smart installers will pocket 50% Of cost....HMMMMMMM Definite Scam-ola

Washington DC September 20, 2024; The AIADA newsletter reported that the U.S. Treasury Department proposed a new rule that could provide substantial tax credits for installing EV chargers.

Under the proposal, individuals would be eligible for credits of up to $1,000, while businesses could receive up to $100,000 for each installed charger, reports CBT News.

This rule aims to accelerate EV infrastructure, with businesses poised to benefit significantly by installing multiple chargers, offsetting considerable costs. John Podesta, White House senior adviser for international climate policy, emphasized the importance of expanding charging access. “To help more Americans go electric, we need to ensure they can charge their EVs where they live, work, and shop — from inner-city neighborhoods to rural areas,” Podesta said. This initiative builds on the 2022 IRA, which aims to reduce the cost of EV charger installation by up to 30 percent for families and businesses.

The proposed rule follows earlier guidance from January that made tax credits for EV chargers available in about two-thirds of the U.S., targeting low-income and non-urban areas.

This latest proposal takes a broader approach, allowing credits to apply to individual charging ports rather than limiting them to a single credit per multi-port installation. Click here for the full story.