Driving into the Future: Saving with utility and state rebates
Federal tax incentives on electric vehicles have been eliminated, but there are still ways to save if you're looking to go green.
With the average new car price just hitting a record $50,000, every dollar counts.
And most states still offer tax incentives for buying alternative fuel vehicles, and we found electric service providers offering incentives, too.
The Pennsylvania Alternative Fuel Vehicle program runs through June 2026 or until the funds dry up.
Residents who meet income guidelines can get up to $3,000 on a new or pre-owned electric vehicle.
Plug-in hybrid cars and trucks qualify for $1,500.
All other alternative fuel vehicles and motorcycles can get $500.
The state also offers Alternative Fuel Incentive Grants to companies and nonprofits looking for cleaner energy options.
And Charge Up New Jersey offers tax breaks for EV drivers in the Garden State.
"We have seen our EV registration grow from about 30,000 when we started this program in 2020 to over 250,000 vehicles on the road today," said Cathleen Lewis with the New Jersey Board of Public Utilities.
If you're thinking about becoming part of that EV boom, the program gives instant savings right at the dealership for residents who buy or lease.
"You get a $1,500 incentive right off the bat, $1,500 off the cost of your vehicle."
And residents who meet certain income guidelines can get as much as $4,000.
Charge Up New Jersey also offers a $250 incentive on eligible level 2 EV chargers.
And new EV drivers can plug into savings with utility deals as well.
"PECO will give any of their electric customers who recently purchased an EV vehicle a $50 rebate through our smart driver rebate," said Candice Womer with PECO.
Atlantic City Electric also offers its customers in New Jersey 50% off installation costs, up to $1,000 per charger.
"At the end of the day, EVs are cheaper. They are cheaper to fuel, they are cheaper to maintain, and you can fuel them right in your home," said Lewis.
There are savings in Delaware as well.
Delmarva Power offers its customers a time-of-use rate for charging.
Many incentives come with eligibility requirements, from car price to income limits, so it is important to ask and read the fine print.
More information:
-Pennsylvania Alternative Fuel Vehicle program
-PECO
