Governmental regulations and incentives are a top consideration when adopting electric vehicles (EVs). You can offset the initial cost of your electric vehicle when you know the governmental regulations for EVs and are aware of the incentives from the government and manufacturers.
Cities are implementing carbon-free zones: a growing movement that will eventually affect fleets, particularly last-mile delivery. For example, Seattle and New York City are two major cities implementing clean fleet plans to reduce emissions and improve sustainability through fleet electrification. From a national level, the Biden Administration is looking to implement point-of-sale consumer EV rebates to increase fleet electrification across the U.S.
EV Incentives for Fleets
Besides government regulations, there are potential incentives to save when switching to an EV. One of which includes the electric vehicle tax credit. This tax credit is a rebate on income taxes funded by the state or federal government. These credits incentivize businesses to purchase electric vehicles by lowering the cost via tax rebates. The U.S. Federal government has provided rebates for over a decade.
When looking into these rebates, be sure to consider the following:
- How do electric vehicle tax credits work?
- How do you claim a tax credit?
- Where are these credits currently?
Manufacturers offer rebates as well to offset the cost of EVs. However, these incentives are constantly changing. Be sure you know the available rebates before entering the sales process.
Carbon Neutral Ports
Lastly, another new political movement to consider is carbon neutral ports that will impact Class 6 through Class 8 vehicles. Currently, the EU is striving toward reducing emissions and aims to decrease emissions by 50% by 2030. These efforts will quickly spread to the United States in years to come.
By understanding government regulations and incentives, there are opportunities to cut costs and improve your city and state with EV adoption.