What Changes Should Decatur, IL Drivers Know About the Federal EV Tax Credit and Charger Incentives?
Federal EV incentives are shifting. The Clean Vehicle Credit, which offers up to $7,500 in tax savings, is scheduled to expire on September 30, 2025, unless Congress extends it. Separately, the federal tax credit for installing a home EV charger will remain available through June 30, 2026. If you're planning to switch to electric in the near future, it's a good time to understand how these programs apply.
How Much Federal Tax Credit Could You Receive When Purchasing an EV?
The federal tax credit offers up to $7,500, split into two equal portions: $3,750 if the EV meets the critical minerals requirement and another $3,750 if it meets the battery component requirement. Vehicles that meet only one of these benchmarks may qualify for a partial credit. Those that meet neither do not qualify for any federal credit.
What Does a Vehicle Need to Qualify for the EV Credit?
To qualify, an EV must:
- Be new at the time of sale
- Have a battery of at least 7 kilowatt-hours
- Weigh under 14,000 pounds
- Be manufactured by a qualified automaker
- Have its final assembly completed in North America
Price limits also apply:
- $80,000 MSRP cap for SUVs, trucks, and vans
- $55,000 MSRP cap for all other vehicles
Is the EV Charger Tax Credit Still Available in Illinois?
Yes. The federal credit for home EV charger installation covers up to 30% of the equipment and installation cost, capped at $1,000. This benefit applies only to a primary residence and is set to expire after June 30, 2026, unless renewed.
Thinking About Buying an EV in Decatur? Here's What to Keep in Mind.
Before you purchase, verify that the model qualifies for the tax credit and check whether you meet the eligibility requirements. You can review qualified vehicles through the IRS or reach out to Crown Nissan of Decatur for help navigating the process.
How Crown Nissan of Decatur, IL Can Support Your EV Journey
At Crown Nissan of Decatur, our team is here to help you find EVs that qualify for available tax credits and provide clear guidance on incentives. Whether you're just starting to explore or you're ready to buy, we’ll walk you through your options with local expertise.