INCENTIVES

It Pays To Plug In Program

This program provides grants to offset the cost of a Level 1 or Level 2 public charging station projects, local units can apply to the NJ DEP to get reimbursed for between 60% and 100% of the costs of the project. These chargers do not have to be strictly open to the public, they can be used only for fleet vehicle charging. NJEV.org provides resources and links for users to apply for funding. Read more here.

Federal EV Tax Credit

The United States government offers a federal tax credit of between $2,500 to $7,500 for the purchase of a new, qualifying BEV or PHEV. This tax credit is available for all vehicle manufacturers until they sell 200,000 vehicles, at which point the tax credit will be phased out. Currently, GM and Tesla are the only two manufacturers that have sold 200,000 EVs and are preparing to phase out of the tax credit opportunity. NJEV.org provides an up to date list of the manufacturers who are eligible for the tax credit.

While local units are not able to take advantage of the tax credit due to their tax-exempt status, a private leasing entity may be able to take the tax credit, as it is purchasing the vehicle. Some of the savings from the tax credit financial benefit to the purchasing agent can be realized by the local unit. Read more here.

New Jersey EV Sales Tax Exemption

The State of New Jersey provides a state sales tax exemption on the sale of any BEV that is purchased, leased, or rented. The exemption can be captured at the time of sale if an exemption waiver is supplied. A link to the exemption waiver and an up to date list of the vehicles that are eligible for the exemption is available on NJEV.org. Read more here.