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.

• Most Plug-in Battery Electric Vehicles cost about 2 to 3 cents per mile to operate
• Most 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).