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Cost Considerations and Financial Incentives
The cost of installing a home EV charger can vary widely, depending on factors such as the type of charger, the complexity of the installation, and any necessary electrical upgrades. On average, a Level 2 charger installation can range from $500 to $2,0001.
Fortunately, there are financial incentives available to help offset these costs. Many states and utility companies offer rebates or tax credits for home EV charger installations. For instance, the federal government provides a tax credit of up to 30% of the installation cost, capped at $1,000, for residential installations2. It's worth exploring these options to maximize your savings.