If you're considering switching to an electric vehicle (EV) in Arizona, now is the time. With growing support from federal programs and local utilities, Arizona EV incentives - 2024 make transitioning to a cleaner, more affordable driving option easier. Understanding the available tax credits, rebates, and charging programs can help you maximize your EV investment.
Let’s explore the Arizona EV incentives, 2024, and how they can save you money.
Federal Electric Vehicle Tax Credit
New Vehicle Clean Credit (Up to $7,500)
One of the most significant advantages of switching to an EV in Arizona is the Clean Vehicle Federal Tax Credit. Under Arizona EV incentives - 2024, buyers of new electric vehicles can qualify for up to $7,500 in federal tax credits. This credit applies to vehicles with a battery size of at least 7 kWh and helps reduce the overall cost of the EV. For most cars, the price cap is $55,000, while trucks, vans, and SUVs can cost up to $80,000 and still qualify for the credit.
Used Vehicle Clean Credit (Up to $4,000)
Looking to buy a used EV? You’re in luck. The used vehicle clean credit offers buyers up to $4,000 in savings. This incentive is a great way to get a more affordable EV while benefiting from tax credits. To qualify, the vehicle must meet federal requirements, and your income must be below certain thresholds - $150,000 for single filers and $300,000 for joint filers.
Eligibility for Federal Credits and Arizona EV Tax Credit
Not all EVs qualify for the Arizona EV tax credit, so it's essential to ensure that your vehicle meets the necessary criteria. Vehicles must meet specific battery and federal standards to qualify for these credits. Additionally, remember that buyers must fall within the defined income levels to take advantage of these credits.
Arizona EV Charger Rebates for 2024
Arizona utility companies offer numerous rebates to help you install home or business charging stations, making Arizona EV incentives even more valuable.
Arizona Public Service (APS) Rebates
If you're an APS customer, you can use a $250 rebate when installing a Level 2 charger at home. In addition, by joining the SmartCharge program, you can get an additional $85 annual credit. This incentive encourages off-peak charging, reducing electricity bills and the strain on the power grid.
Salt River Project (SRP) Rebates
SRP offers a $250 rebate for residential customers who install Level 2 EV chargers. They also provide a $50 bill credit for joining the SRP EV Community, which helps optimize your charging habits to save even more. For businesses, SRP offers up to $15,000 per DC fast charging port, making it easier for commercial properties to support EV drivers.
Tucson Electric Power (TEP) Rebates
TEP provides up to $500 rebates for residential customers installing a Level 2 charger and as much as $20,500 for commercial DC fast chargers. This incentive is especially beneficial for businesses or multifamily properties looking to install EV infrastructure. If you live in a disadvantaged community, you may qualify for even higher rebates.
How to Save on Charging with EV Time-of-Use (TOU) Plans
Saving money on EV charging is more accessible through Arizona EV incentives - 2024 time-of-use (TOU) plans offered by local utilities. These plans allow you to charge your EV during off-peak hours when electricity rates are lower.
- Arizona Public Service (APS) Time-of-Use Plans: With APS, you can enjoy off-peak rates as low as 3.495 cents per kWh during winter months, helping you save on energy costs. Charging your vehicle at night can avoid higher on-peak rates and reduce your overall utility bills.
- Salt River Project EV Charging Savings Plan: SRP offers a similar TOU plan with off-peak rates of around 7.69 cents per kWh in the winter. Charging your vehicle during off-peak times (typically overnight) can significantly reduce energy usage costs.
- Tucson Electric Power (TEP) Charging Rates: TEP's TOU plans allow you to pay as little as 1.9 cents per kWh during super off-peak hours, making it one of the most affordable charging options in the state. This option is desirable for homeowners who prefer charging their EVs overnight.
Public EV Charging Stations in Arizona
Thanks to federal and state funding, Arizona is rapidly building its public charging infrastructure. As part of Arizona EV incentives in 2024, the state has more than 1,270 public charging stations and over 2,600 charging ports.
- NEVI Program and Public Charging Infrastructure: Through the National Electric Vehicle Infrastructure (NEVI) program, Arizona has secured $76.5 million in funding to expand EV charging across the state, particularly in underserved regions and along major highways.
- Tesla Supercharger Network: Tesla drivers can use 49 Supercharger stations across Arizona, providing fast and efficient charging for long-distance travel. Other charging networks are expanding, making EV travel more accessible nationwide.
Cost of Public Charging
The average cost of public charging in Arizona is around 53 cents per kWh, which varies depending on the charger type and location. Some charging stations even offer free EV charging, particularly in state parks and specific urban centers like shopping malls.
Home Electrification Incentives in Arizona
In addition to vehicle-specific incentives, Arizona residents can benefit from upcoming home electrification incentives under the Inflation Reduction Act (IRA). These incentives help cover the cost of upgrading home energy systems, including EV chargers, solar panels, and battery storage systems.
Battery Storage and Solar Panel Rebates
Arizona offers a 25% state tax credit, up to $1,000, for installing solar panels. This can be combined with battery storage rebates, making creating a sustainable energy ecosystem at home more accessible and more affordable.
Electrical Panel Upgrades
As more homeowners adopt EVs, upgrading electrical panels to handle the increased load is often necessary. The IRA offers up to $600 rebates for electrical panel upgrades, helping prepare homes for EV charging infrastructure.
Also Read: Understanding Energy Management Systems in Electric Vehicles
Recent Developments in Arizona’s EV Charging Infrastructure
Arizona’s EV landscape is rapidly evolving. The Arizona Department of Transportation (ADOT) has announced the addition of 18 new EV charging stations across the state, particularly in underserved regions. Additionally, new housing developments are integrating EV chargers into their infrastructure, making it easier for homeowners to adopt EVs.
Arizona is also becoming a hub for the EV sector, with companies like Lucid Motors and Nikola setting up manufacturing facilities in the state. This positions Arizona as a key player in the growing EV market, contributing to job growth and environmental sustainability.
Conclusion: Making the Most of Arizona EV Incentives, 2024
With federal tax credits, utility rebates, and public charging expansions - Arizona EV incentives in 2024 provide significant savings for new and used EV buyers. As more infrastructure develops and incentives grow, now is the ideal time to switch to electric vehicles and make a positive impact on your wallet and the environment.
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Also Read: California Electric Vehicle Grants and Incentives Programs
