The DMV is the Trailblazer for Electric Vehicle Adoption
The DMV might make you think of long lines and license renewals, but you should be thinking of Federal tax credits and local incentives geared to promote electric vehicle (EV) adoption. At least that’s the case when referring to the geographical region covering the District of Columbia and neighboring counties in Maryland and Virginia (aka “the DMV”).
Today, starting with Maryland, I’m giving you the inside scoop on the DMV electric vehicle incentive programs that will make you want to #DriveEV for your next vehicle purchase.
While the DMV region often propels the country forward in certain initiatives, it’s the State of Maryland that has led the way in creating a greener region over the last 15 years. Most recently, in 2017, through the Regional Greenhouse Gas Initiative (RGGI), “the Old Line State”, along with eight other Northeastern and Mid-Atlantic states, dedicated themselves to lowering regional carbon emissions by 40% between 2020 and 2030.
So, how does this policy affect your choice to make the switch to an EV? To encourage public participation in reaching their goals, the state offers incentives – and these green initiatives and their resulting incentives have created a shopping bonanza for Maryland’s newest EV drivers.
Here are the basic perks associated with Marylander’s qualified electric vehicle purchases:
State residents and business owners may qualify for the Federal EV tax credit up to $7500.
Excise tax credits for new car purchases. The amount depends on the purchase price of your dream EV.
The State awards up to Up to $4000 in rebates after purchasing an EV charger for home- and/or business owners. While the rebate does not cover installation, it does cover equipment purchases for consumer, prosumer, and commercial charging models.
Local Utilities: BGE, PEPCO, Potomac Edison, and Delmarva also offer EV charger rebate programs for Maryland ratepayers. These awards are limited to a maximum of $300 for residential customers and $5000 for multifamily customers. Most of the utilities listed above offer 100% discounts on installation costs.
A smaller carbon footprint means there will be more blue crabs produced from the Chesapeake Bay!
Most of these programs will be active through the fiscal year 2020. The Federal tax incentives are not expected to expire until each EV manufacturer has sold 200,000 units within the U.S., so time is of the essence. If you are a Maryland resident or business owner in the market for an EV and/or charging equipment, there’s never been a better time to take the leap with DaiTechCorp.
Click below to schedule your 15-minute primer on the EV incentive and EV charging programs available
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State residents and business owners may qualify for the Federal EV tax credit
The State awards up to Up to $4000 in rebates after purchasing an EV charger for home- and/or business owners. While the rebate does not cover installation, it does cover equipment purchases for consumer, prosumer, and commercial charging models.
Local Utilities: BGE, PEPCO, Potomac Edison, and Delmarva also offer rebate programs for Maryland ratepayers in residential and multifamily homes.