How You Can Benefit from EV Federal Tax Credits
Written by Saltanat Berdikeeva
Edited by Hannah Hillson
Last updated 02/10/2023
Why trust SaveOnEnergy?Learn More
At SaveOnEnergy, we work to offer accurate information with editorial integrity. Our partners do not direct our editorial content, though we may reference their products in our posts. Read more about how we make money.
- The Inflation Reduction Act (IRA) of 2022 is landmark legislation that expands clean energy incentives, including tax credits for electric vehicles (EVs)
- The tax credits aim to lower EV buyers’ taxes in a given year and incentivize more people to purchase EVs.
- Not all EVs qualify for the Clean Vehicle Credit, effective January 1, 2023. The new rules narrow down many EVs eligible for the Clean Vehicle Credit.