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In Louisiana, drivers who purchase new, eligible AFVs (alternative fuel vehicles) can save up to $2,500 with the state’s incentive program.
In the United States, 90% of transportation energy comes from petroleum. This makes the transportation sector the leading source of greenhouse gas emissions in the country.
To combat this issue, many states offer incentives for residents who buy an electric or hybrid vehicle. These incentives, usually in the form of rebates, make electric vehicles more appealing and accessible to drivers across the country.
The specifics of the electric vehicle incentives vary from state to state, which is why insurance broker and car insurance comparison app Jerry created this guide to Louisiana’s electric vehicle incentives.
How much you save with the Louisiana electric vehicle incentive
In Louisiana, the electric vehicle incentive is a tax credit that will save you 10% on the purchase price of an electric or plug-in hybrid electric vehicle, up to $2,500.
How to get the Louisiana electric vehicle incentive
While many states limit their incentive to only electric cars, in Louisiana any alternative fuel vehicle (AFV) is eligible. The U.S. Department of Energy defines an AFV as any car that runs on natural gas, propane, biofuel, biodiesel, methanol, ethanol, or electricity.
To qualify, the vehicle must be an AFV that is registered in Louisiana, and it must have been purchased before July 1, 2021.
In order to claim the credit, you must fill out IRS Form 8936. Then, you’ll need to report the credit on your Form1040 (U.S. Individual Income Tax Return).
How to find cheap car insurance for your electric vehicle
If you want another way to save on your electric vehicle, make sure to use Jerry when you go insurance shopping!
Jerry is a licensed brokerage app that makes finding cheap car insurance easy. After a short, free sign-up, you’ll be provided with dozens of competitive car insurance quotes. You can use these quotes, plus Jerry’s personalized recommendations, to find the best policy for your needs and budget.
Join now to see why the average Jerry user saves almost $900 a year!
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