Federal Purchase Incentive:
The federal government allows up to $7,500 as a federal income tax credit on an EV purchase. The credit amount will vary based on the capacity of the battery used to power the vehicle.
Federal Charging Infrastructure Tax Credit
The Fixing America’s Surface Transportation Act reauthorized the tax credit for EV charging supply equipment until 12/31/16. If the charging station is considered personal property, the tax credit is the smallest of 30% of the station’s cost or $1k; if the charging station is considered business property, the credit is worth the smallest of 30% of the station’s cost or $30k.
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The Massachusetts Offers Rebates for Electric Vehicles (MOR-EV) program offers rebates up to $2,500 for the purchase or lease of PEVs.
The Massachusetts EV Incentive Program provides grants to businesses with 15 or more employees for the installation of Level 1 or Level 2 EV charging stations. The program will provide 50% of the funding (up to $25,000) for the hardware costs.
Drive Electric Vermont offers a rebate of up to $1,000 for the first 200 applicants who purchase a PEV. Incentive varies based on battery size.
The VT EV Charging Station Loan Program offers loans up to $100,000 for EVSE through the State Infrastructure Bank. There is a 1% fixed interest rate and a 2% commitment fee.
DRIVE offers a rebate up to $2,500 for the purchase or lease of a new PEV. Funding is limited.
The Connecticut Hydrogen and Electric Automobile Purchase Rebate (CHEAPR) offers a rebate for PHEVs and BEVs between $750 and $3,000 depending on the size of the battery.