Programs and Incentives
Indiana’s electric utilities offer a variety of incentives to encourage residential, commercial, public and multi-unit customers to adopt EVs and deploy EVSE. Such incentives can include time-of-use (TOU) rates, rebates, grants, loans, and support services to increase EV adoption. These incentives are focused on increasing customer engagement, lowering upfront capital costs and promoting sustainable load growth. Click your local utility link below or contact your utility for more information on available programs.
Charging the Crossroads is the Indiana Department of Transportation’s plan to invest nearly $100 million to build a network of electric vehicle (EV) charging stations at strategic locations along Indiana’s federally-designated alternative fuel corridors (AFCs). Federally funded by the Bipartisan Infrastructure Law (BIL) through the National Electric Vehicle Infrastructure (NEVI) program, Charging the Crossroads will result in the installation of Level 3 DC Fast Charging stations every 50 miles and within one mile of interchanges and intersections. To learn more about candidate charging station sites and expected timelines visit the INDOT website.
AES Indiana offers residential customers a $250 rebate for the purchase of a new Level 2 EV charging station. Customers must enroll in a managed charging program. For more information, including a list of eligible EV charging stations, see the AES Indiana EV Managed Charging Program website.
AES Indiana offers a TOU rate to residential and business customers who own a licensed EV. Customers who are considering purchasing Level 2 electric vehicle supply equipment should contact AES Indiana to discuss the benefits and requirements of participating in the program. Only customers in AES territory are eligible. Restrictions apply. For more information, see the AES Indiana Electric Vehicles website.
Duke Energy offers rebates of up to $500 to commercial customers for the installation of Level 2 EV charging stations at workplaces, multi-unit dwellings, fleets, or publicly available locations. For more information, including application requirements and rebate amounts, see the Duke Energy Commercial Charger Rebate website.
Duke Energy allows residential and commercial customers to rent Level 2 and direct current fast charging (DCFC) stations for a flat rate each month. For more information, see the Duke Energy EV Programs website.
Duke Energy offers a quarterly incentive of $50 to residential customers who charge their EV during off-peak hours. Customers may receive a maximum of $400. Rebates are available on a first-come, first-served basis. For more information, including how to apply, see the Duke Energy Off-Peak Charging Credit website.
Indiana Michigan Power offers commercial, fleet, and multi-unit dwelling customers a rebate of $250 per Level 2 EV charging station port installed or five years’ worth of revenue credits to apply against construction costs of new business facilities to serve newly installed EV charging stations. Incentives are available on a first-come, first-served basis. For more information, see the Indiana Michigan Power Charge at Work in Indiana website.
Indiana Michigan Power (IMP) offers a TOU rate to small commercial customers that own an EV. Small commercial customers that enroll in the EV TOU rate may also be eligible for a $500 rebate for the purchase of a Level 2 EV charging station or for the pre-wiring necessary to support a Level 2 EV charging station. Eligible small commercial customers must average less than 4,500 kilowatt-hours of electricity monthly. For more information, see the IMP Charge at Work in Indiana website.
Call your NIPSCO representative for more information on available offerings.
Call your CenterPoint Energy representative for more information on available offerings.
Federal Clean Vehicle 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.
Credits for New EVs Purchased in 2022 or Before
If you bought a new, qualified plug-in EV in 2022 or before, you may be eligible for a clean vehicle tax credit up to $7,500 under Internal Revenue Code Section 30D. The credit equals:
- $2,917 for a vehicle with a battery capacity of at least 5 kilowatt hours (kWh)
- Plus $417 for each kWh of capacity over 5 kWh
The maximum credit is $7,500. It is non-refundable, so you can't get back more on the credit than you owe in taxes. You can't apply any excess credit to future tax years. For additional information on Tax Credits for eligible EVs purchased in 2022 and before please see the IRS Website.
Credits for New Clean Vehicles Purchased in 2023 or After
You may qualify for a credit up to $7,500 under Internal Revenue Code Section 30D if you buy a new, qualified plug-in EV or fuel cell electric vehicle (FCEV).
To qualify, a vehicle must:
- Have a battery capacity of at least 7 kilowatt hours
- Have a gross vehicle weight rating of less than 14,000 pounds
- Be made by a qualified manufacturer. See our index of qualified manufacturers and vehicles.
- FCEVs do not need to be made by a qualified manufacturer to be eligible. See Rev. Proc. 2022-42 for more detailed guidance.
- Undergo final assembly in North America
The sale qualifies only if:
- You buy the vehicle new
- The seller reports required information to you at the time of sale and to the IRS.
- Sellers are required to report your name and taxpayer identification number to the IRS for you to be eligible to claim the credit.
In addition, the vehicle's manufacturer suggested retail price (MSRP) can't exceed:
- $80,000 for vans, sport utility vehicles and pickup trucks
- $55,000 for other vehicles
For more information on Tax Credits for New Clean Vehicles purchased in 2023 or after please see the IRS Website.
Commercial EV and Fuel Cell Electric Vehicle Tax Credit
Beginning January 1, 2023, a tax credit will be available to businesses for the purchase of new EVs and FCEVs. Vehicles with a gross vehicle weight rating (GVWR) below 14,000 pounds (lbs.) must have a battery capacity of at least seven kilowatt-hours (kWh) and vehicles with a GVWR above 14,000 lbs. must have a battery capacity of at least 15 kWh. The tax credit amount is equal to the lesser of the following amounts:
- 15% of the vehicle purchase price for plug-in hybrid electric vehicles
- 30% of the vehicle purchase price for EVs and FCEVs
- The incremental cost of the vehicle compared to an equivalent internal combustion engine vehicle
Maximum tax credits may not exceed $7,500 for vehicles under 14,000 lbs. and $40,000 for vehicles above 14,000 lbs. Businesses may not combine this tax credit with the Clean Vehicle Tax Credit.
For more information on the Commercial EV and Fuel Cell Electric Vehicle Tax Credit please see the Alternative Fuel Data Center. For a list of vehicles with final assembly in North America or to verify your vehicle’s final assembly location, please see here.
Federal Tax Incentives for Alternative Fuel Infrastructure
Commercial Alternative Fuel Tax Credit
Beginning January 1, 2023, fueling equipment for natural gas, propane, hydrogen, electricity, E85, or diesel fuel blends containing a minimum of 20% biodiesel, is eligible for a tax credit of 30% of the cost or 6% in the case of property subject to depreciation, not to exceed $100,000. Permitting and inspection fees are not included in covered expenses.
Qualified fueling equipment must be installed in locations that meet the following census tract requirements:
- The census tract is not an urban area;
- A population census tract where the poverty rate is at least 20%; or
- Metropolitan and non-metropolitan area census tract where the median family income is less than 80% of the state medium family income level.
- Eligible projects must also meet apprenticeships and prevailing wage requirements.
- Use the Climate and Economic Justice Screening Tool see if your property qualifies.
- Here is the IRS website for form 8911.
Individual Alternative Fuel Tax Credit
Consumers who purchase qualified residential fueling equipment between January 1, 2023, and December 31, 2032, may receive a tax credit of 30% up to $1,000.
Consumers will need to complete Form 8911 for alternative fuel refueling property place in service during your tax year. To access this form, please view the following IRS Website.