Using clean, renewable forms of energy is growing and popular as more and more people understand the importance of preserving our environment for future generations. One of the biggest ways we see this movement taking hold is through the electric vehicle (EV) market. Drivers are trading in their gas and diesel guzzlers for clean and efficient electric vehicles. This means that there is a need for residential and commercial EV charging stations. However, the initial cost can be a financial burden for many homeowners and business owners. The good news is that there are electrical vehicle incentives to reduce the upfront installation and set-up costs.
What Electric Vehicle Incentives Are Available to Home and Business Owners?
When researching incentives, credits, and rebates, it is important to look not only at local electric vehicle incentives but ones at the federal and state levels, too. Leaving no stone unturned could save you a bunch of money on installation costs. Let’s take a look at potential ways to save money on residential and commercial EV charging stations.
Federal Incentives and Grants
The federal government recognizes the importance of reducing our carbon footprint as a nation. This is why they have federal incentives and grants in place to encourage homeowners and business owners to invest in a greener future. Tax incentives can change from year to year, so be sure to visit the IRS to learn about the most recent electrical vehicle tax credits.
In addition to tax credits, there are various federal grants available each year to residential owners and businesses interested in installing EV charging stations.
State and Local Tax Incentives
Depending on where you live, there may be state and local tax incentives available for you to take advantage of. Be sure to check with your state’s tax website to check on the most current credits available.
Manufacturer Specials and Rebates
In addition to federal, state, and local credits and incentives, there are often manufacturer specials and rebates. This varies from manufacturer to manufacturer and typically occurs for a limited duration during certain parts of the year. Specials may include discounts on certain models of their EV charging systems, while rebates can be redeemed after purchase with the manufacturer.
Don’t Let Installation Costs Stop You from Going Green
Investing in clean energy sources should be available to everyone, and businesses should be able to offer convenient EV charging stations. However, the installation and set-up costs can be a barrier to making this possible. Fortunately, utilizing a combination of federal and state tax credits, along with grants and rebates, will help reduce installation costs.
With a passion for helping you go green and reduce your carbon footprint, MLS Electric specializes in installing level 2 and level 3 EV charging stations for residences and commercial spaces. As a Tesla-certified installer and a “Find It Duke” Trade Ally with Duke Energy, we are the leaders in EV charging installation, proudly serving metro Charlotte, Raleigh, Durham, Greenville, and surrounding areas. Don’t waste another minute dreaming of contributing to a cleaner environment. Contact us at MLS Electric today, and let’s get started!
