I currently own a Volt which can only charge at 16 amps from a 240 outlet, but I'm having a clipper creak CS 100 installed in anticipation of my forthcoming Model S (with twin chargers) order particularly given that there are both Federal and NY State tax incentives at play here for EVSEs installed by 12.31.2013
I'm just a little confused on the math and weather or not I can take advantage of both the NY State and Federal tax incentives.
the Clipper Creek EVSE retails for USD 2,250 and the local electrician has agreed install a 100 amp breaker and run the necessary wiring to the garage for USD 1,200 so my out of pocket costs will total USD 3,450.00
the NY State incentive is 50% of the total cost up to a certain amount but I believe my total cost is less than the allowed max for personal installations, giving me full use of the 50% refund.
so I would be due a refund of $1725 from the State on NY
The Federal government allows a 30% discount on the costs up the $1000 for personal use. 30% of $3,450 would be $1035 so I would be entitled to the full $1000 refund.
I therefore calculate:
Initial Cost: $3,450
NY State refund: less $1,725
Federal refund: less $1,000
-------------------------------------------------
TOTAL COST: $$ 725
Seems almost too good to be true. Can anyone comment? I feel like I am not understanding/missing something here.
Thanks in advance for taking the time to reply.
I'm just a little confused on the math and weather or not I can take advantage of both the NY State and Federal tax incentives.
the Clipper Creek EVSE retails for USD 2,250 and the local electrician has agreed install a 100 amp breaker and run the necessary wiring to the garage for USD 1,200 so my out of pocket costs will total USD 3,450.00
the NY State incentive is 50% of the total cost up to a certain amount but I believe my total cost is less than the allowed max for personal installations, giving me full use of the 50% refund.
so I would be due a refund of $1725 from the State on NY
The Federal government allows a 30% discount on the costs up the $1000 for personal use. 30% of $3,450 would be $1035 so I would be entitled to the full $1000 refund.
I therefore calculate:
Initial Cost: $3,450
NY State refund: less $1,725
Federal refund: less $1,000
-------------------------------------------------
TOTAL COST: $$ 725
Seems almost too good to be true. Can anyone comment? I feel like I am not understanding/missing something here.
Thanks in advance for taking the time to reply.
