Incentives FAQ
Going electric should be accessible for anyone who wants to drive an electric vehicle (EV), and incentives help keep the upfront cost of EVs and EV charging more affordable! Understanding which rebates, credits and incentives you qualify for when considering an EV purchase can oftentimes be overwhelming — which is where we come in. We’ve got answers to the most common questions about incentives – from federal and state vehicle credits to home charger incentives to special rates offered by your local utility!
Why are EV incentives important?
Incentives are common across many different industries to encourage the adoption of new technology — technology that can often be more expensive for both consumers and manufacturers.
Incentives help lower costs, making the new technology — in this case, EVs — more affordable for more people who are looking to save on gas and improve air quality for all.
What entities offer incentives for purchasing an EV?
If you’ve checked out our Incentive Finder, you know the list of potential incentives is long, and there seem to be incentives for almost everything! Incentives can come from many different entities, including but not limited to:
- The federal government
- State and local governments
- Utility providers
What kinds of incentives and programs are available?
- Federal, State and Local Credits: Credits are either offered at qualified dealerships at the time of purchase, or they can be tax credits, which are used to lower your overall tax bill when you file taxes.
- Rebates: Rebates are applied for after the purchase of an EV or home charger.
- Utility Discounts: Oftentimes, utilities offer discounted rates and incentives to help lower your electricity bills when you buy an EV and/or install a home charger.
- Vehicle Retirement Programs: Many states and local governments offer programs to eligible residents that can help residents retire their older vehicles and replace them with EVs. These are generally applied for before you purchase a new vehicle.
- HOV Lane: Many states allow EVs and other alternative fuel vehicles to utilize HOV lanes regardless of how many people are in the vehicle.
- Parking Perks: Some local governments offer parking permits, free charging and preferred parking spots for EVs.
If I buy an EV, can I save money on my electric bill?
Yes! Utilities across the nation offer discounted rates to help lower your electricity bills when you buy an EV and charge at home. They also often have incentives specifically for the installation of home chargers.
- Head to our Incentive Finder to see all the incentives available in your ZIP code.
- Find a home charger and incentives to help lower the cost of installation.
What about incentives for used EVs?
Yes! The used EV market is growing, and federal used vehicle credits and local incentives can help more people get into their first EV. Not only can used EVs save consumers up to half the cost of a new EV, but they also cost less over time than similar gas cars, thanks to the lower fuel and maintenance costs associated with driving electric.
- Learn about used EVs and incentives that help make them even more affordable.
- Head to our Incentive Finder to see all the incentives available in your ZIP code.
How do I know if I qualify?
Each incentive has unique requirements, and not all incentives can be combined. You’ll want to check out our Incentive Finder and click through to review each incentive’s requirements and application process, and follow the instructions.
Want to see which incentives are available in your ZIP code? Visit our Incentive Finder to learn how you can qualify for savings!