Charged Up – New Jersey’s New EV Incentive
Fewer carbon emissions, lower fuel costs, better fuel economy, Federal income tax credits…there are many reasons to invest in an electric vehicle. And as of July 25th, you can add the New Jersey “Charge Up” incentive to that growing list! This program provides New Jersey residents buying an eligible vehicle an incentive of up to $4000 that is immediately applied at the point of sale, thereby reducing the purchase price of the electric vehicle. To qualify for this incentive, the purchase or lease must meet the following requirements:
- The vehicle must be ordered, purchased or leased after 7/25/22;
- The vehicle must be a battery electric or plug-in hybrid electric vehicle;
- The vehicle must have a MSRP of $55K or less;
- The vehicle must be registered in the State of New Jersey; and
- The vehicle must be purchased or leased from a participating New Jersey dealership or showroom.
For a full overview of the program and eligibility requirements, please visit https://chargeup.njcleanenergy.com/
If you have any questions on this program or Federal income tax credits available for electric vehicles, do not hesitate to reach out!