6 Incentives buy EV
With increasing demand for EVs, there are long waitlists and significant markups on new models that have left many buyers in a tough spot - deciding whether to buy EV now or wait . With government incentives for electric vehicles this year, we are at the threshold of a clean energy economy sooner or later. Since EVs are being launched in every model from hatchbacks, to pick up vans, they are no longer perceived to be ‘elite’. However these measures are in line with the motive of reducing inflation and helping the US economy. Tax Credits In the United States, the federal government offers a tax credit of up to $7,500 for the purchase of a new EV and $4,000 on use EV. For now, the credit can be claimed by anyone regardless of income. Starting January 1, 2017, the credits will be capped at $150k for single filers and $300k for joint filers. HOV Lane Access Another incentive that is often offered for purchasing an EV is HOV lane access. HOV lanes are highway lanes that are reserved for