Start checking out electric and/or plug-in hybrid-electric vehicles!
Drive Green from our partners at the Green Energy Consumers Alliance have a lot of consumer resources on EVs. You can compare both new and used electric plug-in hybrids and vehicles and find out lots more info on their website. Plus, they have negotiated discounts from local dealers for a limited time.
Range anxiety?
Fully electric vehicles are constrained by their battery capacity, but the battery range improves by the year. For example, the new highly-rated Chevrolet Bolt boasts a range of 259 miles and the Tesla Model 3’s range is 250 miles with an option to bump that to 322 miles. The network of charging stations keeps expanding, too, with real-time apps like ChargePoint that help you locate public charging stations.
Charging questions?
Though you can plug your car straight into any standard 110-120V outlet, many EV and plug-in owners install a Level II 240 Volt charger, which speeds up charging time by 6X. Equipment and installation of these chargers are tax deductible and typically range from $1,000 to $1,200. You can also easily find local charging spots (both free and for a fee) using an app like ChargePoint.
What incentives can I receive? How will EVs and plug-in hybrid EVs save me money?
Federal Incentives
In 2023, a federal tax credit up to $7,500 for certain new EVs is available. Income limits apply. Max MSRP of $55,000 passenger or max MSRP of $80,000 for vans, SUVs and pickup trucks. In 2024, the tax credits will convert to a point-of-sale incentive to the dealer, meaning you get that discount right away. Estimate your savings via this calculator from Rewiring America.
In 2024, a federal tax credit of up to $4,000 for USED EVs will become available; income limits apply. In 2024, the tax credits will convert to a point-of-sale incentive to the dealer, meaning you get that discount right away. Estimate your savings via this calculator from Rewiring America.
Starting in 2023, households in low income or rural areas are also eligible for a 30% tax credit up to $1,500 to install an electric vehicle charger. Estimate your savings via this calculator from Rewiring America.
State Incentives
Additionally, you can receive 2023 Massachusetts Mor-EV incentives of $3,500 for EVs with a purchase or lease purchase price < $55,000, $1,500 for a new plug-in hybrid EV and an extra $1,000 when you turn in an internal combustion engine vehicle. Incentives for trucks are higher in a range of $5,000 – $15,000 for public and private vehicles with a gross vehicle weight rating of over 8,500 pounds. Be sure to submit your online application and supporting documents within 3 months of purchase/lease.
