Plug Into Savings with an Electric Vehicle

Snapping Shoals EMC is committed to finding ways to help our members who purchase electric vehicles. Find resources below to help you decide if making the switch to an electric vehicle is right for you.

Electric Vehicle Fuel Credit

Members who acquire an electric vehicle may be eligible for a $30 monthly bill credit for 12 months. The credit should offset the average annual fuel cost for your electric vehicle for the first year. The electric vehicle must be purchased or leased after February 1, 2021, and an invoice for the sale/lease is required. The fuel credit is limited to one per member. Contact Snapping Shoals for more information and to see if you qualify.

EV Charging Station Rebate

Members may also be eligible for a $250 rebate to offset the cost of purchasing and installing an electric vehicle charging station. The charging station must be installed on a dedicated circuit in a home served by Snapping Shoals EMC. Invoices and a site visit to verify installation are also required. Charging station adapters do not qualify for this rebate.

Additional Resources and Information

If you have a garage, carport or driveway with access to electricity, you can probably charge at home. There are two primary home charging options.

  • Level 1 120V charging (standard household outlet)
  • Level 2 240V charging (requires installation and/or 240V outlet)

Utilities generate electricity various ways. This includes using fossil fuels, such as coal, natural gas and oil, as well as non-fossil sources like hydro, wind, solar and nuclear. Electricity at public charging stations comes from utilities as well, but it may be difficult to determine which utility serves a specific station, thus CO2 rates may vary.

Electric Vehicle Credit

Snapping Shoals members who acquire an electric vehicle may be eligible for a $30 monthly bill credit for 12 months. The credit should offset the average annual fuel cost for your electric vehicle for the first year. The electric vehicle must be purchased or leased after February 1, 2021, and an invoice for the sale/lease is required. The fuel credit is limited to one per member.

Rebate programs may end or change at any time. All programs are subject to verification from SSEMC. For more details and to find out if you qualify, call 770-786-3484.

 

Electric Vehicle Charging Station Rebate

Snapping Shoals members may also be eligible for a $250 rebate to offset the cost of purchasing and installing an electric vehicle charging station. The charging station must be installed on a dedicated circuit in a home serviced by Snapping Shoals EMC. Invoices and a site visit to verify installation are also required. Charging station adapters do not qualify for this rebate.

Rebate programs may end or change at any time. All programs are subject to verification from SSEMC. For more details and to find out if you qualify, call 770-786-3484.

 

Electric Vehicle Federal Tax Credit up to $7,500

A federal income tax credit up to $7,500 is available for the purchase of a qualifying EV. The minimum credit amount is $2,500, and the credit may be up to $7,500, based on each vehicle's battery capacity and the gross vehicle weight rating. Your eligibility for income tax credits depends on your personal tax situation. We recommend speaking with a tax professional for guidance.

The credit begins to phase out for each vehicle manufacturer once they have sold 200,000 eligible electric vehicles in the United States (as counted from January 1, 2010). The IRS will announce when a manufacturer exceeds this production volume and will announce the subsequent phase-out schedule on the IRS website. Plug In Electric Drive Vehicle Credit Section 30D | Internal Revenue Service (irs.gov)

  • Consult your tax adviser to make sure you qualify
  • Max tax credit $7,500
  • Restrictions apply, subject to change without notice

 

EV Charging Equipment Federal Tax Credit up to $1,000

Consumers who purchase qualified residential charging equipment prior to December 31, 2021, may receive a tax credit of 30% of the cost, up to $1,000. Permitting and inspection fees are not included in covered expenses.

NOTE: This incentive originally expired on December 31, 2016, but was retroactively extended through December 31, 2020, by Public Law 116-94. The Taxpayer Certainty and Disaster Tax Relief Act of 2020 extended the alternative fuel vehicle refueling property credit to cover refueling property placed in service in 2021.

 

Consider Installing a Level 2 (240V) Electric Vehicle Charger

Level 2 electric vehicle supply equipment (EVSE) provides charging through a 240 V AC plug. Level 2 adds about 10 to 60 miles of range to a vehicle per hour of charging time, making it far more convenient than standard 120 V AC charging, which adds about 2 to 5 miles per hour of charging. Additionally, level 2 charging is a more energy-efficient method of charging, as most EV have on-board components that require additional electricity the entire time the EV is plugged in.

  • Level 2 chargers are four to six times faster than using a standard home outlet.
  • More efficient charging than standard outlet (120V) charging.
  • Many units come with additional controls, such as timers and wifi connectivity.