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13 Posts
Hi All,
I'm a recent buyer of a 2017 Volt and just had an electrician install a 14-50 NEMA outlet in my garage for my new level 2 EVSE. Just wanted inform / remind anyone else thinking about doing such a project that there is an available tax credit that is currently set to expire at years end. The tax credit is for up to 30% of the installation cost, up to a maximum amount of $1,000 for residential, and applies to both hardware and installation. So, for me, my whole set-up was a total of about $470 out of pocket ($150 for the outlet right below my breaker box and $320 for my EVSE), so I should qualify for a credit of $141, making my net out of pocket expense about $329.
I know some may say it's better to just get the pigtail to convert the existing EVSE that comes with the car to be level 2, but I prefer to keep that in the car for spot charging and the one in the garage as a permeant install.
Here's a link to the IRS instruction sheet for the credit, so you can see the detail: https://www.irs.gov/pub/irs-prior/i8911--2020.pdf
I'll just add that I am not an accountant, so don't know the inner workings of applying for the credit, but will utilize my accountant for that come tax time. I'm retaining all receipts and records of the install as proof the job was completed this month, prior to the 12/31/20 deadline.
I'm a recent buyer of a 2017 Volt and just had an electrician install a 14-50 NEMA outlet in my garage for my new level 2 EVSE. Just wanted inform / remind anyone else thinking about doing such a project that there is an available tax credit that is currently set to expire at years end. The tax credit is for up to 30% of the installation cost, up to a maximum amount of $1,000 for residential, and applies to both hardware and installation. So, for me, my whole set-up was a total of about $470 out of pocket ($150 for the outlet right below my breaker box and $320 for my EVSE), so I should qualify for a credit of $141, making my net out of pocket expense about $329.
I know some may say it's better to just get the pigtail to convert the existing EVSE that comes with the car to be level 2, but I prefer to keep that in the car for spot charging and the one in the garage as a permeant install.
Here's a link to the IRS instruction sheet for the credit, so you can see the detail: https://www.irs.gov/pub/irs-prior/i8911--2020.pdf
I'll just add that I am not an accountant, so don't know the inner workings of applying for the credit, but will utilize my accountant for that come tax time. I'm retaining all receipts and records of the install as proof the job was completed this month, prior to the 12/31/20 deadline.
