Across Tennessee there are several incentives offered for those who opt to own an EV or install electric vehicle supply equipment (EVSE). Listed on this page are the current organizations and programs offering monetary incentive programs.
Knoxville Utility Board’s Electric Vehicle Charger Rebate program is offering a rebate of 100% of EV charger equipment and installation costs, up to a combined total of $400. This offer is valid for residential KUB electric customers with current electric accounts who purchase and install new Level 2 (240 volt) EV charging equipment. Applicants must own or lease a battery electric vehicle (BEV) or plug-in hybrid electric vehicle (PHEV) that is charged at home to be eligible for the rebate.
This program is open from Jan. 1st, 2022 – Dec. 31st, 2022.
Additionally, KUB offers a pilot program employing Time of Use Rates for those interested in reducing their electricity bill by prioritizing electric usage outside of grid peak-usage times. Given that most EV at-home charging takes place over night, this program could be a good option for those who wish to offset the increase in their electric bill incurred from charging.
Electric Power Board of Chattanooga is also offering a rebate program to commercial customers for the installation of EVSE. There are 2 tiers available with different qualifications:
- $2,000 per port for Level 2 (208V or 240V) and DC Fast Chargers with OpenADR networking capabilities (open network EV charging)
or
- $500 per port for Level 2 EV charging stations not capable of meeting networking requirements (closed network EV charging).
This program is open from Jan. 1st, 2022 to Dec. 31st, 2022.
Middle Tennessee Electric is committed to educating its members on the benefits of driving electric. Their ongoing EV incentive plans include developing programs and educational materials to answer questions and help our members embrace EVs into their daily lives.
For MTE members who own an EV or are interested in them, MTE offers the EV Car Club which is an email list keeping users up to date on their EV education opportunities and other related activities.
For additional help in choosing the right EV for you, the MTE website directs users to the TVA EnergyRight page. This resource allows you to compare different EV models at different price points and battery ranges to identify which EV or PHEV on the market fits your needs.
Clipper Creek maintains a running list of EVSE incentives proposed by Local Power Companies (LPCs). The list on this page offers a great regional breakdown of Tennessee’s available funding opportunities for Level 2 charger installation, as well as other states for comparison.
Federal Incentives
On August 16, 2022, President Biden signed the Inflation Reduction Act of 2022 (Public Law 117-169), which amends the Qualified Plug-in Electric Drive Motor Vehicle Credit (IRC 30D), now known as the Clean Vehicle Credit, and adds a new requirement for final assembly in North America that takes effect on August 16, 2022. Additional provisions will go into effect on January 1, 2023. Further guidance on these provisions is forthcoming.
For more information about the credit from the IRS, please see here.
For a list of vehicles with final assembly in North America, please see here.
Source: Alternative Fuels Data Center
