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Indiana drivers who purchase new electric vehicles or plug-in hybrid electric vehicles could receive up to $7,500 in tax rebates!
In the U.S., 90% of transportation energy comes from petroleum. Due to this, transportation is the leading source of greenhouse gas emissions.
In an effort to encourage drivers to purchase electric vehicles, many states offer incentives for owning an electric vehicle. These incentives are usually in the form of tax rebates and help make electric vehicles more accessible to the general public.
The specifics of these incentives vary from state to state, so car insurance comparison and broker app, Jerry, has compiled a guide to Indiana’s electric vehicle incentives.
How much you save with the Indiana electric vehicle incentive
In Indiana, the electric vehicle incentive can save you $7,500 on the purchase of an electric or plug-in hybrid electric vehicle.
The incentive starts at $2,500 and increases by $416 for every extra kWh (kilowatt-hour) your vehicle’s battery has.
You can also receive savings of up to $1,650 for installing an electric vehicle charger at your personal residence.
How to get Indiana electric vehicle incentive
Indiana residents hoping to claim the incentive need to complete tax form 8834, titled “Qualified Plug-in Electric and Electric Vehicle Credit.” They also need to report that they claimed this credit on their 1040 tax form.
To be eligible for the incentive, the vehicle must be purchased new and the incentive is only available to Indiana residents.
You can learn more about the Indiana incentive at the National Conference of State Legislatures’ website.
How to find cheap car insurance for your electric vehicle
Electric vehicle incentives aren’t the only way you can save on car-related expenses. Sign-up for insurance broker Jerry and see how cheap your electric vehicle’s car insurance can be!
Jerry provides dozens of competitive car insurance quotes to help you find the best policy at the best price. It also generates personalized recommendations to assist with your decision. Once you’re ready to switch, Jerry even helps with the paperwork!
The average Jerry user saves almost $900 a year. Sign-up now!
“Jerry saved me $80 a month! I have a Tesla Model Y and really wanted to lower my rates. And they did! I really recommend you give this a shot!” —Nick M.