Side-by-side comparison of these two energy incentive programs. See which one offers better savings for your situation.
| Feature | EV Tax Credit (New Clean Vehicle) | IRA Home Efficiency Rebate (HOMES) |
|---|---|---|
| Type | Tax Credit | Rebate |
| Category | Electric Vehicles | Whole Home |
| Amount | Up to $7,500 | Up to $8,000 |
| Max Amount | $7,500 | $8,000 |
| Level | Federal | Federal |
| Eligibility | MAGI under $150K (single) or $300K (joint). MSRP under $55K for cars, $80K for SUVs/trucks/vans. Vehicle must be assembled in North America. | Income-based: full rebate for <80% AMI, 50% rebate for 80-150% AMI. Must achieve modeled energy savings. |
| Applies To | Vehicle buyers | Homeowners, renters (with landlord approval) |
| Location | Nationwide | Nationwide |
| How to Claim | Claim on Form 8936 with federal return, or transfer to dealer at point of sale for immediate discount. | Applied at point of sale through participating contractors. State-administered. |
| Expiration | Available through 2032 | Funds available until spent (through ~2031) |
Federal tax credit for purchasing a new qualifying electric vehicle. $3,750 for battery component requirements + $3,750 for critical mineral requirements.
Official source →Point-of-sale rebate for whole-home energy efficiency retrofits. $2,000-$4,000 for moderate income, $4,000-$8,000 for low income households achieving 35%+ energy savings.
Official source →