The Biden administration has launched new initiatives to cut the cost of electric vehicles and ensure the reliability of the U.S. EV charging network, including updated guidance on EV charger tax credit eligibility for individuals and businesses and new investments in EV technologies.
The Department of the Treasury intends to propose regulations related to the Inflation Reduction Act’s tax credit, which provides up to 30 percent off the EV charger cost to individuals and businesses in eligible census tracts, the White House said Friday.
Treasury proposes intended definitions for eligible census tracts that will clarify the eligibility of the tax credit to Americans in low-income communities and non-urban areas.
To support the Biden administration’s clean transportation mission, the departments of Energy and Transportation are investing $46 million in funding through their Ride and Drive Electric program to accelerate the development of a reliable EV charging network.
DOT is also investing $149 million in grants to repair or replace non-operational EV chargers nationwide.