EV Charger Rebate and Tax Credit
Duke Energy EV Charger Prep Credit Program
What is the Credit Program?
- Duke Energy EV Charger Prep Credit Program is a one-time credit for preparing your home or business for EV Charging.
- Stems from Duke’s Make Ready Credit Program
- The rebate covers the cost of electrical upgrades required to add a level 2 electric vehicle charger to your home. It does not cover the cost of the charger itself
- Click here for more info on the program
Who is the Credit Program for?
- Residential
- $1,133 per household
- include new electric plug-in outlets for a garage, electrical wiring improvements and other required electrical upgrades to support Level 2 or higher EV chargers
- Clients who currently own or will be purchasing an electric vehicle in the next 120 days. The electric vehicle must be registered to the same address where the electrical upgrades for the level 2 charger will be getting installed
- Commercial
- One-time credit to prepare site for EV charger
- Credit would vary based on charger type, total kW, and additional upgrades
- Funds are available for electrical wiring and other required electrical upgrades
- Level 2 Chargers and higher
- This credit can be used for workplaces, businesses, multifamily dwellings, transit stations and schools.
- Does not cover cost of permitting, installation, or equipment
How to Apply?
Customer Credit Option – Rhinos Renewables recommended option
- Where the contractor is chosen by the owner or work has been done in the last four months, submit an application and receive a check
- Easiest and cheapest option as the owner can choose their contractor of choice.
- No hidden fees that the contractor has to hide in their price due to Duke charging them a referral fee.
Contractor Credit Option
- Duke will choose a contractor and the credit will show on final bill from contractor as a discount
- Duke charges the contractor a platform fee for making the connection between owner and contractor. This fee is then hidden in the price of the work from the contractor.
Contractor Credit Option
- New construction homes
- $150 credit for new homes upfitted with EV charger infrastructure
EV Charger Tax Credit 30% up to $1,000
Inflation reduction act
- Released in August of 2022, a 30% tax credit has been extended to renewable energy systems and 30% up to $1000 for EV charger installations. This tax credit is eligible for ten years through 2032.
- For Homeowners, the cost of hardware and installation for EV chargers is eligible for a 30% tax credit up to $1,000 of total cost. This includes the charger and the electrical upgrades to install.
- Businesses are eligible for 30% up to $100,000 for the cost of EV charger installation and required electrical upgrades.
- This tax credit, for both homeowners and business owners is filed with Form 8911 and requires a receipt for the EV charger and its installation.
- Rhino Renewables is NOT a tax professional and we always recommend you speak with your tax professional to confirm our understanding of the tax law along with assisting you filing for these tax credits.
- For more information on the Inflation Reduction Act, click here
Recap
- The cost of electrical upgrades to add an EV charger, in most cases, will be completely covered by the $1,133 rebate offered by Duke
- Home and Business that receive the cash rebate are also eligible for the tax credit for the same installation.
- The cost of the charger itself is not eligible for the cash rebate from Duke but is eligible for the tax credit from the IRS.
- Rhino Renewables is NOT a tax professional and we always recommend you speak with your tax professional to confirm our understanding of the tax law along with assisting you filing for these tax credits.
Recommended Chargers
Rhino Renewables is brand agnostic and will install any UL listed EV charger of your choice. We are experienced installing all the top brands including Enphase, Tesla, Clipper Creek, Juicebox, ChargePoint, Grizzly and more.
- Rhino Renewables recommends the Enphase HCS charger that comes in 32, 40, 48, and 64 amp options. The Enphase charger couples great with their solar and battery storage systems allowing for off grid charging and future vehicle to home applications.
- For a cost effective and reliable charger we recommend the ENEl X Juicebox 48 amp charger
Sources
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