Electric vehicles (EV) have hit a critical milestone of over 1 million EVs on the road. As demand increases that number is expected to grow to 18 million by 2030.*
Federal tax credits and a discount for Alliant Energy electric customers are available for buying most electric vehicle models.
However, EVs have become so popular that some incentives are starting to come to an end. The tax credits are being phased out as sales volume increases. The timing will vary by manufacturer. Alliant Energy’s rebate is available through the end of 2018.
Though electric vehicles had a slow start with consumers, the market share has grown as technology has gotten better:
- Instant torque makes them fun to drive.
- They cost less to fuel, roughly $1/gallon equivalent.
- Better batteries, longer range and more charging stations reduce worries.
- They need less maintenance than an internal combustion vehicle.
- They reduce tailpipe emissions.
Electric vehicles come in most body styles: SUV/crossover, sedan, compact/hatchback, sports car, subcompact, minivan, coupe, wagon and van. Battery range now reaches up to 200 miles.
Their popularity extends to the Midwest where electric vehicles on the road have reached 2,500 in Iowa and 7,600 in Wisconsin.
How to apply
Tax credits can be claimed on the federal tax form and Alliant Energy offers rebates toward the cost of a new or used EV.
To learn more about electric vehicles and to get updates on available incentives, visit alliantenergy.com/ev.
*According to a study recently released from the Edison Electric Institute and the Institute for Electric Innovation.