Incentives & Tax Credits
BCREMC Workplace and Fleet Charging Guide
Installing electric vehicle (EV) charging stations at workplaces can benefit employers
and employees alike. However, potential challenges include justifying the investment, how it will affect your electric bill, selecting the right hardware, installing the units, and establishing appropriate usage policies.
BCREMC created a guide that provides an overview of the potential benefits of installing charging stations at workplaces and information to help employers through the process of planning, installing, and managing EV charging infrastructure.
You may also be eligible for a Federal Tax Credit for up to 30% of the cost to purchase and install the infrastructure, see additional information below.
The guide helps with the following:
and employees alike. However, potential challenges include justifying the investment, how it will affect your electric bill, selecting the right hardware, installing the units, and establishing appropriate usage policies.
BCREMC created a guide that provides an overview of the potential benefits of installing charging stations at workplaces and information to help employers through the process of planning, installing, and managing EV charging infrastructure.
You may also be eligible for a Federal Tax Credit for up to 30% of the cost to purchase and install the infrastructure, see additional information below.
The guide helps with the following:
- Identify Optimal Site for Charging Stations
- Select Charger Types and Quantity
- Develop and Post Signage
- Device Policies and Enforcement Procedures
- Come by BCREMC and visit our Workplace Charging EV Lab!
IRS: Federal Tax Credit for EV Charging Equipment for Businesses
Businesses are eligible to receive a Federal Tax Credit for alternative fueling infrastructure including EV charging stations. Tax credits for qualified alternative fueling infrastructure are up to 30% of the cost to purchase and install the infrastructure. Fueling station owners who install qualified equipment at multiple sites are allowed to use the credit towards each location. Consult with your tax professional to see how these credits apply to your business.
- Consult a tax professional to see if your installation qualifies
- Visit IRS website for additional information
Federal Tax Credit for New & Used Electric Vehicles
A federal tax credit is available for new and used electric vehicles that meet requirements specified in Internal Revenue Code Section 30D.
New Vehicle Clean Credit up to $7,500.
You may qualify for a credit up to $7,500 if you buy a new, qualified plug-in EV. The Inflation Reduction Act of 2022 changed the rules for this credit for vehicles purchased from 2023 to 2032. Information about new vehicles purchased in 2022 and before or for vehicles purchased in 2023 and after.
Used Vehicle Clean Credit up to $4,000.
Beginning January 1, 2023, if you buy a qualified used electric vehicle (EV) from a licensed dealer for $25,000 or less, you may be eligible for a used clean vehicle tax credit. The credit equals 30% of the sale price up to a maximum credit of $4,000. Additional Details.
The credit is nonrefundable, so you can't get back more on the credit than you owe in taxes. You can't apply any excess credit to future tax years.
Starting in January 2024, an Inflation Reduction Act provision allows consumers to transfer the tax credit to car dealers, reducing the purchase price of eligible new and used vehicles at the time of sale.
New Vehicle Clean Credit up to $7,500.
You may qualify for a credit up to $7,500 if you buy a new, qualified plug-in EV. The Inflation Reduction Act of 2022 changed the rules for this credit for vehicles purchased from 2023 to 2032. Information about new vehicles purchased in 2022 and before or for vehicles purchased in 2023 and after.
Used Vehicle Clean Credit up to $4,000.
Beginning January 1, 2023, if you buy a qualified used electric vehicle (EV) from a licensed dealer for $25,000 or less, you may be eligible for a used clean vehicle tax credit. The credit equals 30% of the sale price up to a maximum credit of $4,000. Additional Details.
The credit is nonrefundable, so you can't get back more on the credit than you owe in taxes. You can't apply any excess credit to future tax years.
Starting in January 2024, an Inflation Reduction Act provision allows consumers to transfer the tax credit to car dealers, reducing the purchase price of eligible new and used vehicles at the time of sale.
- Consult your tax adviser to make sure you qualify
- Tax credit amount varies based on vehicle details
- Restrictions apply, subject to change without notice
Incentive Information
Electric Vehicle Federal Tax Incentive up to $7,500
Federal Tax Credit for EV Charging Equipment up to $1,000
Consumers who purchase qualified residential charging equipment may receive a tax credit of 30% of the cost, up to $1,000.
- Consult a tax professional to see if your installation qualifies
- Visit IRS website for additional information
Incentive Information
Federal Tax Credit of 30% of the cost of residential charging equipment, up to $1,000.
Indiana State Electric Vehicle Registration Fee
Plug-in electric vehicle owners are required to pay an additional registration fee of $150, and plug-in hybrid and hybrid electric vehicles are required to pay an additional registration fee of $50. The Indiana Bureau of Motor Vehicles will determine new fee amounts every five years. (Reference Indiana Code 9-18.1-5-12)