By making the switch to an electric car, Texas homeowners can save a bundle of cash thanks to the state’s various EV-friendly incentives. From tax credits to rebates and grants from the state, here’s a list of all the ways Texas homeowners can pocket some serious cash when they go green.
Texas also offers its own tax credits for the purchase of electric vehicles. The current credit amount is up to $2,500, with a maximum of $30 million available statewide each year.
To be eligible for the credit, applicants must have purchased an electric car after December 31, 2017, and the maximum credit is limited to $2,500 per vehicle.
In addition to the state and federal tax credits, Texas also offers a variety of rebates for electric vehicles. The rebates come in two forms:
Texas also offers a Charge Ahead Program, which provides grants to low-income households to help them purchase or lease an electric vehicle. The program is funded by the Texas Commission on Environmental Quality and administered by the Texas Department of Transportation.
The grants are available for up to $7,500 per vehicle and are awarded on a first-come, first-served basis. To be eligible, applicants must have an annual household income that does not exceed 80% of the state median income.
Finally, Texas offers grants for the installation of electric vehicle charging stations. The grants are available to both public and private entities and can be used to cover up to 75% of the cost of the installation. Grants are available up to $30,000 per station.
With all these incentives in place, Texas homeowners have plenty of ways to save when they make the switch to electric vehicles. These incentives make it easier and more cost-effective to go green, and with more electric cars entering the market, there’s never been a better time to invest in an electric vehicle.
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