Federal
1. The federal tax credit covers 30% of an EV charging station, necessary equipment and installation costs. For residential installations, the IRS caps the tax credit at $1,000.
Federal Tax Credit for Residential EV (rebates4evchargers.com)
2. The US Environmental Protection Agency (EPA) is offering $3 Billion for port authorities and state, regional, local, and tribal agencies with jurisdiction over ports, and air pollution control agencies to deploy zero-emission port equipment and to purchase and install charging infrastructure through its Clean Ports Program. EPA will provide reimbursement of up to $500 Million, up to 80-90% of total eligible project costs, depending on applicant and project details. Applications will be evaluated competitively and will be accepted between February 2024 and May 2024.
3. The National Electric Vehicle Infrastructure Formula Program allocates $5 billion in funding for EV charging infrastructure across 75,000 miles of highway across the country. Your organization must be within one mile of an established alternative fuel corridor to qualify and may need to meet other requirements as well.
New Mexico
1. PNM offers a $500 rebate to residential customers for the purchase of a networked Level 2 EV charging station. Low-income customers may receive a rebate of up to $2,300.
Residential | PNM EV Charger Marketplace
2. PNM is dedicated to ensuring EV chargers are available to its commercial customers. They offer $2,500 for installing Level 2 chargers and $25,000 for installing DC Fast chargers.
Commercial | PNM EV Charger Marketplace
3. PNM offers a discount of $2,500 per charger port for multifamily community customers to install EV chargers for resident use through their Easy Install method. Income-eligible applicants may receive a rebate of up to $5,000.
Multifamily | PNM EV Charger Marketplace
4. EPE offers residential customers a $500 rebate to purchase a qualified Level 2 EV charging stations and a $2,300 rebate for low-income customers to purchase and install a qualified Level 2 EV charging station. Low-income customers are households with income equal to or less than 200% of the federal poverty level. Eligible Level 2 EV charging stations must be ENERGY STAR certified, networked, and have Wi-Fi or cellular capabilities. For more information, see the EPE Residential Programs website.
5. EPE offers commercial customers rebates for the installation of qualified Level 2 and direct current fast charging (DCFC) stations. Eligible EV Charging Stations must be UL2594 listed, ENERGY STAR certified, and have Wi-Fi or cellular capabilities. Additional eligibility requirements may apply. For more information, see the EPE Commercial Rebate Program
6. EPE offers a TOU rate to commercial and residential customers that own or lease EVs. Eligible customers must be able to separately meter electricity used for EV charging. For more information, see the EPE EV Rates website.
7. The Xcel Energy EV Accelerate at Home program provides residential customers with a Level 2 EV charging station for a flat monthly fee. The fee covers EV charging station installation and maintenance by an Xcel Energy approved electrician. For more information, see the Xcel Energy EV Accelerate at Home website.
8. Xcel Energy offers residential customers enrolled in a time-of-use rate a rebate of up to $500 for the installation of a dedicated electrical circuit to support a Level 2 EV charging station. Income-eligible applicants may receive a rebate of up to $2,500. Customers who charge EVs during off-peak periods are eligible for an annual credit of $50.