How much is the federal EV tax credit?
New qualifying electric vehicles can receive up to $7,500 through the Clean Vehicle Credit. Used EVs qualify for up to $4,000. The credit can be taken at the point of sale as a dealer discount or claimed on your tax return.
What are the income limits for the EV tax credit?
For new EVs, your modified adjusted gross income must be under $150,000 (single) or $300,000 (joint). For used EVs, the limits are $75,000 (single) or $150,000 (joint). Vehicle MSRP caps also apply: $55,000 for cars and $80,000 for SUVs/trucks.
Do states offer additional EV rebates?
Yes. Many states offer rebates of $500 to $7,500 on top of the federal credit. Some states also provide sales tax exemptions, reduced registration fees, or HOV lane access for EVs.
Is there a rebate for installing an EV charger at home?
Yes. The federal Alternative Fuel Vehicle Refueling Equipment Credit covers 30% of EV charger costs up to $1,000 for residential installations. Some states and utilities offer additional charger rebates of $200 to $500.
Can I get EV rebates for a used electric vehicle?
Yes. The federal Used Clean Vehicle Credit offers up to $4,000 (or 30% of the sale price, whichever is less) for qualifying used EVs purchased from a dealer. The vehicle must be at least 2 model years old and priced under $25,000.