Electric Vehicle Federal Tax Incentive up to $7,500

Electric Vehicle Federal Tax Incentive up to $7,500 logo
The federal government is offering a $7,500 tax credit for qualifying electric vehicles. The credit is $2,500 plus $417 for each kilowatt-hour of battery capacity in excess of 5-kilowatt hours.
  • Plug-in Battery Electric Vehicles cost about 2 to 3 cents per mile to operate
  • Gas/Diesel Vehicles cost around 15 cents per mile
  • Electric Vehicles are generally better for the environment, especially where electricity is produced with hydroelectric (rather than coal).