Posts tagged Federal Tax Credits
Cadillac and Chevrolet Reach 200,000 Sales — Tax Credit Values Reduced

Cadillac and Chevrolet have joined automaker Tesla in reaching 200,000 electric vehicle sales in the United States — their EV models will now qualify for federal tax credits of up to $3,750.

The federal government’s Zero Emission Vehicle Incentive Program means each automaker’s eligible plug-in vehicles can receive a tax credit of up to $7,500 (based on vehicle battery size) until 200,000 eligible vehicles per manufacturer are registered in the U.S. After this point, the credit for that particular manufacturer will be reduced and phased out over time.

As of April 2019, Tesla, Cadillac, and Chevrolet have reached 200,000 sales, so models now have a reduced tax credit value of $3,750. Tesla buyers have until the end of June 2019 to receive the credit before it is further reduced; Cadillac and Chevrolet buyers have until the end of September 2019. After that, buyers can receive a tax credit up to $1,875.

Remember, EV incentives can be stacked — the Oregon Department of Environmental Quality is offering rebates of up to $5,000 for EV buyers in Oregon. Some local utilities are also offering rebates for their customers. Check out Oregon’s current incentives.

Pacific Power Customers Can Save an Extra $3,000 on a 2018 Nissan Leaf

Pacific Power customers who purchase a 2018 Nissan LEAF by January 2, 2019 can receive a $3,000 discount on the purchase price, thanks to a partnership between Pacific Power and Nissan.

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This can mean big savings for Oregon electric vehicle drivers. The $3,000 savings can be combined with a federal tax credit up to $7,500 and an Oregon Department of Environmental Quality Clean Vehicle Rebate of up to $2,500. 

The starting MSRP for a 2018 LEAF is about $30,000 -- with a combined manufacturer discount, federal tax credit, and state rebate, Pacific Power customers could save more than a third of the cost of the brand new zero-emissions ride. 

Learn more on Pacific Power's website