The Biden administration is moving to clarify how homeowners and businesses can receive lucrative tax credits for installing electric vehicle chargers.

Gov. Kathy Hochul recently announced $21 million is now available to install electric vehicle fast chargers along major travel corridors across New York State. According to a press

A new rule would allow businesses to claim 30 percent of the cost of new electric vehicle charging equipment as an income tax credit.

Walsall is set to benefit from at least 600 standard electric vehicle (EV) charge points and 65 rapid EV charge points by 2030. The new strategy, paid for by government capital funding, was approved by cabinet members at this week’s meeting.

A new rule proposed Wednesday by the Treasury Department could mean tax credits of up to $1,000 for individuals and $100,000 for businesses if they install electric vehicle chargers.

The Biden administration released a new proposal to expand the number of electric vehicle chargers eligible for tax credits across the country. It comes as the administration has sought to increase incentives for people to choose EVs over gas and diesel-powered vehicles in an attempt to lower carbon emissions.

US Department of the Treasury has clarified EV charger tax credit eligibility for individuals and businesses – here's what you need to know.