Understanding Federal and State EV Tax Credits

When it comes to Chevy financing, Scott Chevrolet has your back. We provide the tools and information you need to take home the right car at the right price, and we’re sharing everything you need to know about EV tax credits. Here’s a closer look at how to save on your favorite EV models. 

Changing Federal Requirements

In the beginning, nearly all EV models qualified for the federal tax credit of up to $7,500, but because so many new models are hitting the market, the requirements to qualify have become much stricter. The primary conditions for qualification concern where the vehicle was assembled and where the parts are from, beginning with the EV being built in North America.

Further requirements have to do with critical minerals, at least 40% of which must come from the U.S. or fair trade partner nations. Another stipulation covers battery components, 50% of which must come from the U.S. or fair trade nations. There are also requirements for the size of the battery, 7kWh, and for the vehicle, a maximum gross vehicle weight rating of 14,000 pounds.

Pennsylvania Credits and Requirements

Don’t lose hope if your favorite EV model doesn’t qualify under these new federal regulations. It may qualify under state regulations. In Pennsylvania, rebates are available for EV models based on your income. New, pre-owned, and demonstration vehicles are eligible, with $2,000 rebates for battery electric vehicles, $1,500 rebates for plug-in hybrid vehicles (PHEVs), and $500 rebates for compressed natural gas vehicles, propane-fueled vehicles, and electric motorcycles.

Learn About EV Tax Credits at Scott Chevrolet

No matter what your EV questions or needs might be, Scott Chevrolet is here to help. Visit our dealership to pick out the perfect model and learn how to save today.

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