Absolutely! The signing of the Inflation Reduction Act put into immediate effect the 30% Residential Clean Energy Credit, which applies to the cost of home battery storage, solar and labor. The primary criteria for battery size is more than 3 kilowatt hours, and all of our electrified trailers have much more power.
The battery system powering the Boulder and our Electric Classics is recognized as a standalone battery system when combined with your home, and qualifies for the Residential Clean Energy Credit under the Inflation Reduction Act. It essentially becomes a Powerwall on wheels.
Beginning on January 1, 2023, standalone home battery storage (batteries that aren’t connected to solar panels) qualify for the 30% Residential Clean Energy Credit. This new and improved tax credit expands on the previous tax credit requiring batteries to be connected to solar systems.
Essentially when you connect the electrified camper’s battery system to your home it becomes home battery qualifying it for the tax credit. Previously you would have had to connect to your home solar panel system in order to qualify, but recent changes have expanded the program.
It’s important to note that the Residential Clean Energy Credit is a nonrefundable credit that can be used to lower your federal tax liability, which means the tax credit is not a check that comes in the mail. It’s a credit that can reduce your federal tax liability beginning in the same tax year that your battery was installed and deemed operational by a government inspector.
As with any tax decision, please consult your CPA or tax advisor before filing.
Yes. Battery storage definitely qualifies for the 30% federal tax credit, in addition to solar, wind, geothermal heat pumps, and fuel cells.
The Inflation Reduction Act (IRA) was signed into law on August 16, 2022 and it specifically addresses the Residential Clean Energy Credit for “qualified battery storage technology expenditure” in Section 13302.
Essentially, the Inflation Reduction Act amended the schedule for the previous tax credit for solar and battery equipment “placed in service” after December 31, 2021 and before January 1, 2033 and is effective immediately.
Beginning on January 1, 2023, standalone battery storage (batteries that aren’t connected to solar panels) will also qualify for the 30% Residential Clean Energy Credit.
To qualify for the 30% tax credit, battery storage must be:
All of our EC models exceed 3 kilowatt hours and The Boulder exceeds the minimum capacity by over 70 kilowatt hours. Our future EV models will have even larger battery systems.
Notice that there are no maximum size, price, or tax credit qualifications. You can take a 30% tax credit on as large of a battery system as you’d like.
The Federal tax credit for The Boulder’s 75kWh battery system is expected to be around $12,000.00.
The Electric Classics (EC-2 and EC-4) have multiple battery size options with tax credits expected between $1,500 and $5,000.
State and Local credits may be available as well.
Smart-grid infrastructure connecting your home to the battery system should provide operational savings through intelligent energy-cost balancing strategies.
Our electrified campers standalone battery systems can serve as a backup energy source for homeowners during power outages and Public Safety Power Shutoffs in the face of extreme weather or other events. A standalone battery is a great alternative to a gas generator, as the utility often shuts off the gas during events such as fires and earthquakes, leaving the gas generator useless.
Through Time-of-Use (TOU) rates, the price of electricity changes throughout the day and can be significantly more expensive during peak demand (typically morning and evening).
Battery storage can help you shift grid usage from high- to low-cost periods and add up to substantial savings over time.
In some instances, the price difference between peak and off-peak periods can be 25 cents per kilowatt-hour — or roughly $2.50 cents per day. While that may seem small, in this scenario it could provide over $900 per year in energy savings, and energy costs only appear to be on the rise.
We offer financing for your new trailer through Rock Solid Funding.
