If you're thinking of buying an EV, now's a great time to go electric!
That’s because there are several incentive programs in place to make owning and driving an electric vehicle even easier. These include:
Making EV charging easier and cheaper
The Public Utilities Commission approved a proposal by the Hawaiian Electric Companies to make it financially more attractive for businesses to install a DC Fast Charger accessible to the public. Known as EV-F, it allows businesses with separately metered Fast Chargers to be billed without a “demand charge” that might increase costs to the public. The EV-U tariff allows the Hawaiian Electric Companies to operate up to 25 publicly accessible fast charge facilities across Oahu, Maui County and Hawaii Island to supplement privately operated Fast Chargers and Level Two chargers open to the public.
Time of Use (TOU) Rates
Residential customers of the Hawaiian Electric Companies are able to apply for discount Time of Use rates that make all home electricity use, including electric vehicle charging, cheaper during the day when excess solar power is available on grids across Oahu, Maui County and Hawaii Island. This can reduce total home energy bills (electricity plus transportation) for many electric vehicle owners.
Federal Tax Credit
Customers can receive a tax credit of between $2,500 and $7,500, depending on the vehicle battery capacity. Battery-only EVs will typically receive the full $7,500, while plug-in hybrids will receive an amount between $2,500 and $7,500, depending on battery capacity. This benefit can only be taken as a credit on your taxes, and not as a tax rebate. In Hawaii, some automobile dealers even offer flexible lease arrangements allowing consumers to take advantage of this federal tax credit upfront.
Make the Switch - Find an EV Expert Near You!
Sustainable Transportation Coalition of Hawaii (STCH) has mapped all of Hawaii's Certified EV Experts to make it easy for you to shop for your next electric vehicle with confidence. Click the Certified EV Seal above to access the map, locate a dealership name, and view profiles for all the certified EV Experts.