Two Federal EV Incentives End Tonight – Chargers and Motorcycles
When the clock strikes midnight tonight, two EV-related incentives will disappear.
One, a charger-related incentive, provides individuals with a 30% tax credit on purchase and install (limited to $1,000).
The other, an electric motorcycle incentive, credits buyers 10% of the purchase price (limited to $2,500).
The residential charger incentive is likely not needed now as the price for Level 2 home chargers has dropped substantially over the past year or so, but businesses will lose out due to the credit of up to $30,000 for multiple charger install coming to an end, too.
The motorcycle incentive was key to driving sales for makers like Zero and Brammo. Without the incentive, those motorcycles cost thousands more than comparable ICE ones.
Both of these credits actually expired last year, but were then reinstated by Congress. We doubt that’ll happen again, but we’ve got our fingers crossed.
Source: USA Today