With Illinois’ state incentive program, owners of EVs can receive Time of Use (TOU) rates, which can save them money if they charge their vehicles at certain times of the day.
In the US, the leading cause of greenhouse gas emissions, up to 29%, is the transportation sector. This is because 90% of the energy consumed from transportation comes from petroleum.
This is a trend that most states are looking to change by offering incentives to make buying and owning EVs and plug-in hybrids (PHEV) more appealing. These incentives are usually monetary rebates or tax credits, but the program can vary from state to state.
Illinoisdoesn’t offer rebates as part of its incentive program, it does focus on helping to reduce the costs of purchasing and charging an EV or PHEV. This is done by offering loan financing to members of Illinois Electric Cooperative, and by giving discounted prices per kWh to all residents who charge their EV at home.
How much can I save with the Illinois electric vehicle incentive?
In Illinois, the
electric vehicleincentive will save you money on your Time of Use (TOU) rates.
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How do I get the Illinois electric vehicle incentive?
In order to qualify for special loan financing to purchase an EV or PHEV, you must be a member of the Illinois Electric Cooperative.
You are not required to be a member of the Cooperative, however, to qualify for Time of Use (TOU) rates to charge your EV. You must simply be a resident of the state of Illinois.
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