Seize the Benefits of Government and Utility Rebates
We all worry about the costs of major purchases. Add to that the difficulty many of us have in choosing the right car, and it’s easy to get tied up in knots. Even buying a traditional internal combustion engine vehicle comes with those concerns. Buying an EV is no different. Only there’s one upside that you don’t get when buying an ICE vehicle: rebates!
Start with the Inflation Reduction Act which was passed in 2022. This federal act extended the 30% tax credit for qualifying renewable energy purchases. This includes up to $7,500 refunded from your federal tax bill for the purchase of new fully electric and hybrid electric vehicles that are manufactured in the United States. While some makes of vehicle are not manufactured in the U.S. some of those companies such as Volvo have developed work around policies to still be able to offer the rebate on leased vehicles.
The federal tax credit also applies to the purchase and installation of a charging station. You can also find rebates for charging station installation on the state and local level. Many of the utility companies are offering $250 and higher for the installation of Level 2 charging stations. Entergy of New Orleans also offers $1,500 rebates for installation of Level 3 charging stations. Cleco for North Shore residents also offers $250 for Level 2 chargers but gives up to $3,000 for commercial grade stations!
Sometimes it takes a little work to find the rebates. Road to kW tries to make it easy on you. Check out our rebates page to find online forms and applications for the rebates in your area.