The Green Energy Consumers Alliance (GECA) has been tracking the developments around financial incentives for electric vehicles including those for federal tax credits. If you purchased a vehicle in 2024, you can claim the tax credit following the instructions on your tax form and GECA has information to help you file. Though the path is less clear for 2025, changing the federal tax credit would require congressional action, and so far according to GECA, neither congress nor the president has taken steps to change the current law.
Beyond the next year though, Anna Vanderspek of GECA concedes, “How EV adoption progresses in the next few years will be influenced by the availability of the federal tax credit in the United States, but there are so many other factors at play — federal and state vehicle efficiency standards, infrastructure funding, tariff implementation, global market developments, etc. — that it’s hard to say just how massive any tax credit impact will be in the short and long run.“
Read the analysis on the GECA website.
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