What Should I Know About the Latest Federal EV Tax Credit and Home Charger Incentive Changes in Phoenix?
Federal incentives for electric vehicle ownership are changing. The Clean Vehicle Credit, which can provide up to $7,500 in federal tax savings, is scheduled to end on September 30, 2025, unless Congress extends it. The home EV charger tax credit is also ending, with a current expiration date of June 30, 2026. If you’re in the Phoenix area and planning to purchase an EV or install a charger at home, these deadlines are worth tracking.
How Is the EV Tax Credit Amount Calculated, and What Determines Whether You Qualify for the Full $7,500?
The EV tax credit is split into two parts:
- $3,750 for meeting the government’s critical mineral sourcing requirements
- $3,750 for meeting battery component sourcing requirements
If your vehicle meets just one of the requirements, you may still receive a partial credit of $3,750. Vehicles that meet neither do not qualify for the credit.
What Are the Vehicle Eligibility Requirements for the Clean Vehicle Credit?
To qualify for this federal tax credit, a vehicle must:
- Be new at the time of sale
- Include a battery capacity of at least 7 kilowatt-hours
- Weigh less than 14,000 pounds
- Undergo final assembly in North America
- Be produced by a qualified automaker
There are also price caps:
- $80,000 MSRP for SUVs, vans, and trucks
- $55,000 MSRP for all other vehicle types
Dealers are required to submit sale and buyer data to the IRS to confirm eligibility.
When Will These Federal Incentive Programs Expire, and Can the Deadlines Be Extended?
The Clean Vehicle Credit will expire on September 30, 2025, and the home charger credit ends on June 30, 2026, unless Congress enacts an extension. These are firm dates as of now, and buyers should plan their EV purchases accordingly.
What Steps Should I Take If I’m Planning to Buy an EV in Phoenix, AZ?
Start by confirming which Hyundai models qualify for the credit under current IRS rules. You can find this information online or speak with a specialist at Camelback Hyundai. Taking action before the credit expires can help you make the most of your investment.
How Can Camelback Hyundai in Phoenix, AZ Help You Navigate EV Incentives?
At Camelback Hyundai, we’re here to simplify the process of buying an electric or plug-in hybrid vehicle. Our team will help you understand what’s required to claim federal tax credits, which Hyundai models meet the criteria, and how to get the most out of your EV ownership experience in Phoenix.
How Do I Contact Camelback Hyundai to Learn More or Get Started?
To explore eligible EVs, learn about charger incentives, or get support with tax credit details, contact Camelback Hyundai in Phoenix, AZ today. We’re ready to help you take full advantage of current federal programs while they’re still available.
