Does Maine have an EV credit?
In the United States, there are several federal tax credits available for electric vehicles (EVs) that meet certain criteria. Here are some of the main tax credits:
- Federal EV Tax Credit: This is a credit of up to $7,500 for the purchase of a new electric vehicle. The amount of the credit depends on the battery capacity of the vehicle. Once a manufacturer has sold 200,000 eligible EVs, the credit begins to phase out.
- State EV Tax Credits: Some states offer their own tax credits for EVs in addition to the federal credit. The availability and amount of these credits vary by state. In Maine, the options are appealing.
- Workplace Charging Tax Credit: This is a credit of up to $1,000 for businesses that install EV charging stations for employee use.
- Residential EV Charger Tax Credit: This is a credit of up to 30% of the cost (up to $1,000) to install a home EV charging station.
It’s worth noting that tax incentives can change over time, and the availability and amount of credits may vary depending on the make and model of the electric vehicle. It’s always a good idea to check with the Internal Revenue Service (IRS) and state/local tax authorities for the most up-to-date information. America Charged recently tracked available EV incentives.
Efficiency Maine offers instant and mail-in rebates for qualifying battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) at Participating Dealers or purchased directly from the manufacturer.
It’s important to choose a vehicle based on the following criteria:
MSRP, think sticker price, cannot exceed the following:
–$73k for EV trucks and commercial vans with a range of 300 mile+
–$65k for EV trucks and commerical vans with a range of less than 300 miles
–$50k for all other eligible EVsTags: Maine EVs