If you are planning on buying a new car before the end of the year, we want to give you all of the tax incentives that are available if you are considering an electric or hybrid vehicle. These incentives started in 2010 and are still going today, with tax credits up to $7,500. These credits help consumers get the gas mileage they want with the affordability they need.
There are both Federal and State tax incentives. For all Federal tax incentives, check out this link at www.fueleconomy.gov that breaks down the incentives by make and model. And for all our your state incentives, read below or visit The National Conference of State Legislatures for more details.
Alternative Fuel Vehicle Recharging Tax Credit: S.B. 2609 and A.B. 3009, passed in 2013, provide a tax credit for 50 percent of the cost, up to $5,000, for the purchase and installation of alternative fuel vehicle refueling and electric vehicle recharging property. The credit is available through Dec. 31, 2017.
Alternative Fuel Vehicle Toll Incentive: Through the Clean Pass Program, qualified vehicles have a $6.25 toll rate during off-peak hours at Port Authority crossings.
Electric Vehicle Emissions Inspection Exemption: Vehicles powered exclusively by electricity are exempt from state motor vehicle emissions inspections.
Plug-In Electric Vehicle Rate Reduction: Residential Con Edison customers will pay a reduced price for electricity used during the designated off-peak period.
For our Pennsylvania residents:
Alternative Fuel Vehicle Funding: The Alternative Fuels Incentive Grant (AFIG) Program provides financial assistance for qualified projects and information on alternative fuels, including plug-in hybrid electric vehicles. The AFIG Program also offers Alternative Fuel Vehicle Rebates to assist with the incremental cost of the purchase of new AFVs. Rebates of $3,000 are available for qualified EVs and PHEVs.
Plug-In Electric Vehicle Rebate: PECO provides rebates of $50 to residential customers who purchase a new, qualified PEV.