Most potential EV buyers are aware of how the federal government’s EV tax credit impacts buyers in 2022. Those who purchase an electric vehicle from select brands—including Jaguar—will be eligible for a tax credit of up to $7,500. But that’s not all. The state of Connecticut offers its own EV incentives, which provide an additional incentive to qualified buyers! If you’re ready to upgrade your Fairfield and Westport drives, find out how CT’s EV incentives work below.
Connecticut Hydrogen and Electric Automobile Purchase Rebate
If you purchase a new plug-in hybrid or electric vehicle in CT, you could be eligible for the state’s unique incentive program. In order to claim the benefit, you’ll need to purchase the vehicle and request the rebate from the government—and there are additional Rebate+ financial incentives for those on Medicaid and SNAP! Here’s a closer look at how CT’s EV incentives pay out:
CT EV Incentives for New Vehicles
- Battery Electric Vehicles (Up to $42,500 MSRP): $2,250 with standard rebate, plus an additional $2,000 for those who qualify for Rebate+
- Fuel Cell Vehicles (Up to $60,000 MSRP): $7,500 with standard rebate, plus an additional $2,000 for those who qualify for Rebate+
- Plug-In Hybrid Vehicles (Up to $42,500 MSRP): $750 with standard rebate, plus an additional $1,500 for those who qualify for Rebate+
CT EV Incentives for Used Vehicles
- Battery Electric Vehicles (No MSRP Cap): Up to $3,000 for those who qualify for Rebate+
- Fuel Cell Vehicles (No MSRP Cap): Up to $7,500 for those who qualify for Rebate+
- Plug-In Hybrid Vehicles (No MSRP Cap): Up to $1,125 for those who qualify for Rebate+
The CHEAPR rebate can be combined with the federal EV tax incentive in 2022, so we’ve covered the latter program, too.
Understanding the Federal EV Tax Incentive in 2022
The federal EV tax incentive has been offered since 2010—but it’s important to note that once manufacturers sell a certain number of EVs, they are no longer able to offer the EV tax credit as an incentive. For example, vehicles made by Tesla and General Motors are not currently eligible for the federal incentive.
Otherwise, all electric vehicles—including the premium Jaguar I-PACE—are effectively available for a significant discount. You can claim the incentive when you file your taxes, and reap the rewards of going green at the same time as you receive your return. Plus, a cheaper price is just one of the many benefits offered by electric vehicles.
Incentives for Installing a Home Charging Station
Although some manufacturers may offer unique incentives for drivers who choose to purchase a home charging station for their new EV, it’s worth noting that some in Connecticut are going above and beyond to ease the transition. Take, for example, Norwich Public Utilities. This company is offering an incentive of up to $4,000 for customers who purchase and install EV charging equipment to use at home. They’ll even offer an additional $1,500 rebate to customers or buy or lease a new or pre-owned EV.
If you don’t have your electricity serviced in Norwich, CT, you may wish to contact your local utility provider and see if they offer any incentives of their own! As with the state and federal incentives discussed above, most local incentives can be combined with other offers.
Learn More About Current EV Incentives at Jaguar Darien Authorized Certified Pre-Owned and Service
If you’d like to learn more about CT EV tax credits and other opportunities for Stamford-area shoppers, don’t hesitate to reach out to our financing team! We’d be happy to walk you through your options. While you’re here, don’t forget to check out our I-PACE special offers and find out how much you could save on your new EV today!
