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New Treasury Guidance on tax credit that covers up to 30% of the cost of EV charging stations

February 18, 2024

The U.S. Department of the Treasury has released partial guidance on the 30C Alternative Fuel Vehicle Refueling Property Credit, a tax credit that covers up to 30% of the cost of EV charging stations. The guidance outlines the areas where eligible charging stations can be installed, covering approximately 99% of U.S. land territory and 62% of the population.

The Electrification Coalition, a nonpartisan, nonprofit organization that promotes policies and actions to facilitate the widespread adoption of plug-in electric vehicles (EVs), has responded positively to this development. The organization believes that increasing the nation’s EV charging infrastructure is crucial for accelerating EV adoption and ending oil’s monopoly on transportation systems.

The clarification expands the number of communities that will have access to charging, which is seen as a critical step in accelerating the adoption of plug-in electric vehicles. The Electrification Coalition asserts that the U.S. needs to greatly expand its charging infrastructure. The provisions within the 30C tax credit, along with resources in the Inflation Reduction Act and Bipartisan Infrastructure Law, are viewed as providing the necessary initial investment to rapidly increase access to infrastructure.

The Electrification Coalition sees this as an opportunity to stimulate economic opportunity, particularly in rural and disadvantaged communities that are often overlooked. The organization commends the Treasury Department for its guidance, which will enable communities to unlock more resources for building essential charging infrastructure.