02-Jun-2024
Incentives and Rebates on EV charging Station in India?
In India, the government and various state authorities are promoting the adoption of electric vehicles (EVs) and the installation of EV charging infrastructure through various incentives and rebates. Here are some key incentives and rebates available for EV charging stations in India EV charging stations in India:
Central Government Incentives
FAME India Scheme (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles)
FAME II: The second phase of the FAME India scheme includes substantial support for the development of EV charging infrastructure. It provides incentives for setting up public charging stations to ensure adequate infrastructure for electric vehicles.
Goods and Services Tax (GST)
The GST on EV chargers and charging stations has been reduced to 5, which is significantly lower than the standard GST rate on most goods and services.
Income Tax Deduction
Under Section 80EEB of the Income Tax Act, individuals can claim a deduction of up to ₹1.5 lakh on the interest paid on loans taken to purchase electric vehicles, which indirectly promotes the installation of home charging infrastructure.
State Government Incentives
Several states in India offer additional incentives for the installation of EV charging stations. Here are a few examples:
Delhi: The Delhi Electric Vehicle Policy 2020 provides a subsidy of ₹6,000 per charging point for the first 30,000 charging points. Residential societies, RWAs, and commercial establishments can avail incentives for installing charging infrastructure.
Maharashtra: The Maharashtra EV Policy 2021 offers a subsidy of up to 50 of the cost (subject to a maximum amount) for setting up EV charging stations.
Additional benefits include discounts on electricity tariffs for EV charging.
Gujarat: The Gujarat EV Policy 2021 provides a capital subsidy of up to 25 (subject to a maximum amount) of the cost of equipment and machinery required for setting up EV charging infrastructure.
Tamil Nadu: Tamil Nadu's EV Policy includes incentives for setting up charging stations, including subsidies on the cost of land and reduced electricity tariffs for EV charging.
Karnataka: The Karnataka Electric Vehicle and Energy Storage Policy offer various incentives, including subsidies for setting up charging stations and reduced electricity tariffs.
Utility Company Incentives: Some utility companies in India are also offering incentives to promote the installation of EV charging stations:
Ecoplug Energy India Limited
Tata Power has been actively setting up EV charging stations across various cities in India and often collaborates with local governments and businesses to provide incentives for setting up charging infrastructure.
Steps to Avail Incentives
Research Available Programs: Check with local and state government websites, as well as utility companies, to find available incentives.
Understand Eligibility Requirements: Each program has specific eligibility requirements and application procedures. Make sure to review these carefully.
Prepare Documentation: Gather all necessary documentation, such as proof of purchase and installation, to apply for rebates or subsidies.
Apply Promptly: Some programs have limited funding and are available on a first-come, first-served basis.
Useful Resources
Ministry of Heavy Industries (FAME India Scheme): FAME India Scheme
State Government Portals: Websites of respective state governments for details on state-specific EV policies and incentives.
Utility Company Websites: Check the websites of utility companies like Tata Power, BSNL, and others for information on incentives and collaborations.
By taking advantage of these incentives, individuals and businesses in India can significantly reduce the cost of installing and operating EV charging stations, thereby supporting the country's transition to electric mobility.
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