How to Obtain 30C Tax Credits For EV Charging at Your Multifamily Properties
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The Alternative Fuel Vehicle Refueling Property Tax Credit, commonly known as the "30C" tax credit or EV charging tax credit, has been available for several years and serves as a key federal incentive to help offset the cost of installing EV charging stations. Recently, this tax credit has been expanded and updated, increasing its value while also narrowing the scope of eligible projects.
At Pando Electric, we offer various options to help you access funding through this program more quickly and with less effort. Below, you'll find an overview of your options and a detailed explanation of what the 30C credit includes.
What Does the Credit Include?
The 30C tax credit is a federal initiative designed to broaden access to alternative fueling or EV charging stations. Recent changes have extended the credit to cover projects completed by the end of 2032. Eligible projects can receive up to $100,000 per item or 30% of the project cost.
Depending on the type of entity, the credit can be utilized in one of three ways:
Default: Claimed when filing taxes.
For tax-exempt entities: Accepted as a direct cash payment from the IRS.
For for-profit entities: The credit amount can be transferred or sold to another taxpayer.
Eligibility Requirements
The updated tax credit aims to expand EV charging access in underserved areas, defined as:
A non-urban area (per the latest census)
A "low-income community," meaning a census tract with a poverty rate of at least 20%
To qualify for the full 30% credit, projects must adhere to prevailing wage and apprenticeship standards. The IRS provides an interactive map to help determine if a project location qualifies.
According to the Department of Labor, a prevailing wage includes the base hourly wage and any fringe benefits paid to workers in a specific labor classification within the geographic area where the work is performed. Projects that do not meet these wage requirements will only qualify for a 6% rebate instead of 30%.
At Pando Electric, we can help determine if you qualify and guide you through the application process.
How to Apply & Deadlines for the EV Charging Tax Credit
To apply for this tax credit, you must complete IRS Form 8911 and include it with your tax return. Instructions for completing the form can be found here. Qualifying projects can benefit from this credit between January 1, 2023, and December 31, 2032. You can learn more about the program here.
How Pando Electric Can Help You Apply for the 30C Tax Credit
Why handle the paperwork alone? At Pando Electric, we've helped customers secure all sorts of grants, rebates, and incentives, and we're ready to assist you and your team as well.
We'll assist you in applying for the 30C program and eliminate the administrative burden and delays associated with cash rebates.
How it works: You manage the application process with on-demand support from Pando Electric. This allows Pando to aid in the completion of your application. Once contact Pando will help:
Gather all relevant information from the installer and ensure compliance with prevailing wage and apprenticeship requirements.
Register for the credit on the IRS online platform.
Complete IRS tax form 8911.
Submit the form with your taxes and receive the credit.
Our team will be available to answer your questions, provide the necessary forms, and help design your charging setup to maximize the amount you can receive from the program.
When Pando Electric says we offer a full turnkey service, we mean it, and we’ll be with you every step of the way, ensuring you receive the maximum benefits for your EV charging setup.
