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Electric Vehicle Offers & Information

UPDATE: Electric Vehicle Federal Tax Credit up to $7,500

UPDATE: Electric Vehicle Federal Tax Credit up to $7,500 logo

The Inflation Reduction Act introduces a number of significant changes to the tax credit for new electric vehicles (section 30D). These changes will phase in over time. Effective immediately after enactment of the Inflation Reduction Act (after August 16, 2022), the tax credit is only available for qualifying electric vehicles for which final assembly occurred in North America. Further changes to the eligibility rules will begin in 2023.

Overall, the reforms in the Inflation Reduction Act mean that the tax credit for electric vehicles will evolve considerably over the coming months and years. However, the only change to the electric vehicle credit that takes effect immediately after the President signs the Inflation Reduction Act into law is the North America final assembly requirement.

Separately, starting in 2023, the Inflation Reduction Act also establishes tax credits for pre-owned clean vehicles (section 25E) and for commercial clean vehicles (section 45W). Treasury and the Internal Revenue Service will release more information on all the clean vehicle credits in the coming months.

source: U.S. DEPARTMENT OF THE TREASURY, August 16, 2022

  • Consult your tax adviser to make sure you qualify
  • Max tax credit $7,500
  • Restrictions apply, subject to change without notice
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Incentive Information

Electric Vehicle Federal Tax Incentive up to $7,500

UPDATE: EV Charging Equipment Federal Tax Credit up to $1,000

UPDATE: EV Charging Equipment Federal Tax Credit up to $1,000 logo

Consumers who purchase qualified residential charging equipment may receive a tax credit of 30% of the cost, up to $1,000.

  • Consult a tax professional to see if your installation qualifies
  • Visit IRS website for additional information
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Incentive Information

Federal Tax Credit of 30% of the cost of residential charging equipment, up to $1,000.

South Carolina EV Registration Fee

Owners of plug-in electric vehicles and fuel cell electric vehicles must pay a biennial fee of $120, in addition to standard registration fees. Hybrid electric vehicle owners must pay a biennial fee of $60.

Reference South Carolina Code of Laws 56-3-645 and 12-28-110(39)

Consider Installing a Level 2 (240V) Electric Vehicle Charger

Consider Installing a Level 2 (240V) Electric Vehicle Charger logo

Level 2 electric vehicle supply equipment (EVSE) provides charging through a 240 V AC plug. Level 2 adds about 10 to 60 miles of range to a vehicle per hour of charging time, making it far more convenient than standard 120 V AC charging, which adds about 2 to 5 miles per hour of charging. Additionally, level 2 charging is a more energy-efficient method of charging, as most EV have on-board components that require additional electricity the entire time the EV is plugged in.

  • Level 2 chargers are four to six times faster than using a standard home outlet.
  • More efficient charging than standard outlet (120V) charging.
  • Many units come with additional controls, such as timers and wifi connectivity.
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