Electric Vehicle Savings and Incentives
Find out how much you can save when you drive an electric vehicle in Illinois.
2024 Electric Vehicle Tax Credits
Beginning January 1, 2024, EV buyers can transfer the federal EV clean vehicle tax credit to a qualified, participating dealer when purchasing, turning the credit into an immediate discount. At the time of sale, a seller must give you information about your vehicle's qualifications. Sellers must also register online and report the same EV purchase information to the IRS. If they don't, your vehicle won't be eligible for the credit. Here is a handy list of federal tax incentives to keep in mind:
- New Plug-in and Fuel Cell Electric Vehicles Purchased in or after 2023: Get a tax credit of up to $7,500
- Used Plug-in and Fuel Cell Electric Vehicles Purchased in or after 2023: Get a credit of up to $4,000 for used vehicles purchased from a dealer for $25,000 or less
- New Plug-in and Fuel Cell Electric Vehicles Purchased Before 2023: Get a tax credit of up to $7,500
- Electric Vehicle Recharging Property Placed in Service in or after 2023: Save up to 30% off the cost of installing EV charging
Home Charging Federal Tax Credit
Residents who install EV charging equipment in their home may receive up to $1,000 federal tax credits.
Learn MorePassenger Vehicle Federal Tax Credit
Most new passenger vehicle owners can receive up to a $7,500 federal tax credits.
Learn MoreExplore ChargeSmart
Take advantage of lower rate charging times. Explore our expanded rate options to choose the best rate for you.
Learn MoreIncentives & Rebates
Let us help you find a certified EV charging installer and qualify for incentives and rebates.
See EV PartnersOther Cost Considerations
All vehicles must be registered with the Illinois Department of Motor Vehicles. Since EV drivers no longer pay gasoline tax at the pump, Illinois requires an annual fee of $100 to supports road maintenance. Listed below are the associated fees for securing an EV license plate as of December 2020:
| Newly acquired vehicle/first-time issuance | $401 ($150 title fee + $251 registration fee) |
| Currently titled vehicle/first-time issuance | $251 ($251 registration fee) |
| Current plates expire within 90 days | $280 ($251 registration fee + $29 replacement fee) |
| Current plates do not expire within 90 days | $280 ($251 registration fee + $29 replacement fee) |
| Annual renewal | $251 |
