ELECTRIC VEHICLE AND CHARGING EQUIPMENT TAX CREDITS
The Inflation Reduction Act (IRA) provides new opportunities for consumers to save money on clean vehicles, offering multiple incentives for the purchase of electric vehicles (EVs), fuel-cell vehicles, and associated equipment such as chargers. Please be aware that income limits apply.
Before applying for one of these tax credits, there are three factors to consider for your eligibility: the timing of your purchase, your personal or household income level, and whether the vehicle itself is eligible.
Credits for New Clean Vehicles
Credits for Used Clean Vehicles
Homeowners who install EV chargers on their property may also qualify for a tax credit which will cover hardware and installation costs.
The United States Department of Energy provides a synopsis of the available credits.