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April 16, 2024

electric vehicle incentives

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Treasury Previews ‘Phase 2’ of IRA Tax Credit Rollout

Starting in 2024, consumers buying an electric vehicle that qualifies for a $7,500 tax credit under the Inflation Reduction Act.

Ford
Fewer EVs May Get IRA Tax Credit Under New Domestic Content Rules
The U.S. Treasury Department just made its March deadline for issuing guidelines on the domestic content provisions for EV tax credits.
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NJ BPU Approves $16M for 1st MHD EV Charger Program
New Jersey's BPU approved a $16.15 million allocation of funds from the RGGI to promote the installation of fast chargers for medium- and heavy-duty EVs.
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NJ Study Looks at Getting EVs into Overburdened Communities
New Jersey could encourage greater use of EVs in overburdened communities by targeting incentives and creating EV ride-sharing plans, a new report says.
Edwin J. Torres/NJ Governor’s Office
NJ Cuts Incentives for New Phase of EV Promotion
New Jersey is cutting its maximum EV subsidy from $5,000 to $4,000 while adding a $250 grant for home chargers.
Palm Springs Nissan
Calif. EV Incentive Comes with Tax Bill, Some Residents Find
Low-income residents in certain parts of California are finding their EV incentives are accompanied by a tax liability.
Solar Landscape
New Jersey Requires Warehouses to Be Solar-ready
The narrowly re-elected governor sends a strong signal that he will continue to promote ambitious climate and clean energy policies.
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NJ Proposes Cutting EV Incentives Amid Big Demand
Top incentive would drop from $5,000 to $2,500 for EVs priced up to $45,000 as state aims to target consumers who might not buy an EV without the rebate. 
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NJ Backs EV Incentive Program for Local Government
Citing UN's dire warnings on climate change, BPU President Fiordaliso says, program aims to help local governments set the right example and direction.
The White House
Biden Executive Order Sets 50% EV Goal by 2030
President Biden set a target of 50% of cars sold in 2030 be electric or hybrid electric and announced EPA would seek to increase fuel efficiency standards.

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