Transitioning America’s transportation sector to clean energy is a huge priority in President Biden’s Investing in America plan — and making sure drivers and consumers can more easily access and afford clean vehicles is key to achieving our zero-emissions goals.
That’s why President Biden signed into law three financial incentives to make it easier to purchase new or used clean vehicles — including cars, vans, SUVs, and pick-up trucks. Click through the cards to learn about eligibility for vehicles purchased in 2023 or beyond:
Electric or Fuel Cell Vehicle (new)
Incentive Type: Tax Credit
Incentive Amount: Up to $7,500 for eligible buyers of qualified clean vehicles
⚠️ There are eligibility requirements for both the consumer and the vehicle. Find eligible vehicles on FuelEconomy.gov. Starting on January 1, 2024, the tax credit can be transferred to the dealer to reduce your upfront purchase price right at the dealership without having to wait until after you file your taxes. Check the latest updates on this point-of-sale incentive at irs.gov/cleanvehicles
⚠️ If you are considering buying an electric vehicle, you may need to consider a home charger and/or upgrades to your outlet to facilitate faster charging. Credits exist for both.
Electric or Fuel Cell Vehicle (used)
Incentive Type: Tax Credit
Incentive Amount: Up to $4,000 for eligible buyers of qualified, previously-owned clean vehicles
⚠️ There are eligibility requirements for both the consumer and the vehicle. Starting on January 1, 2024, the tax credit can be transferred to the dealer to reduce your upfront purchase price right at the dealership without having to wait until after you file your taxes. Check the latest updates on this point-of-sale incentive at irs.gov/cleanvehicles
Disclaimer: For the most up-to-date information on eligibility requirements this credit or for additional detail, see the information from the IRS. The information on this page should not be viewed as an official or legally binding document. Other requirements or exceptions may apply. For more detailed information, please consult an IRS tax representative and/or official IRS publications.
In addition to making vehicle purchases and home charger installations easier to access and more affordable, the Departments of Energy and Transportation are working together to build a nationwide EV charging network across all 50 states, the District of Columbia, and Puerto Rico. On top of that, we’re prioritizing rural and urban communities that have so far been underserved by EV charging infrastructure.
Learn more about the Joint Office of Energy and Transportation and see how this collaboration is working to make clean vehicles a logical, affordable choice for people across the country.