Electric Vehicle Offers & Information
Rate RT Seasonal and Time-of-Day Electric Rate Program
Under Rate RT the rate charged during off-peak periods is lower than the rate charged during on-peak, reflecting the fact that the total cost of electricity is lower during the off-peak. This is also true of the seasonal differences in the rate. Rate RT charges are lower during the cooler winter months than during the summer when the demand for electricity is the greatest.
Residential: Single-Family Residential Level 2 Charging Rebate Programs
Enhance your EV experience and earn incentives by optimizing your EV charging. Reduce the cost and time it takes to charge your EV.
The majority of EV charging happens at home. Why not optimize the process to charge your car faster and earn money? We now offer up to $500 for a new EV charger, and up to an additional $500 for any necessary wiring upgrades.
Already have a charger? You may be eligible to receive a $100 incentive just for signing up for our Managed Charging Program.
Commercial: Make-Ready EV Charging Equipment Program
EV charging station installations are now easier and more affordable. With our Make-Ready Program, businesses can now install electric vehicle (EV) charging stations with up to 100% reimbursement of costs for the electrical improvements needed to support EV charging and up to 50% reimbursement of installed electric vehicle supply equipment (EVSE).
Connecticut Hydrogen and Electric Automobile Purchase Rebate (CHEAPR)
The Connecticut Hydrogen and Electric Automobile Purchase Rebate (CHEAPR) offers incentives to Connecticut residents who purchase or lease an eligible vehicle from a licensed Connecticut automobile dealership. Incentive amounts currently range from $4,250 for an eligible new battery electric (BEV), $2,250 for a plug-in hybrid electric (PHEV), and up to $9,500 for a fuel cell electric vehicle (FCEV) when a Standard Rebate is combined with Rebate+ New for Rebate+ qualified individuals (see program website for eligibility details).
Effective March 29, 2023, the CHEAPR program is evolving to a point-of-sale (POS) rebate for CHEAPR Standard, Rebate+ New, and Rebate+ Used! You will now be able to receive your CHEAPR rebate at the dealer.
Federal Tax Credit for EV Charging Equipment up to $1,000
Consumers who purchase qualified residential charging equipment may receive a tax credit of 30% of the cost, up to $1,000.
- Consult a tax professional to see if your installation qualifies
- Visit IRS website for additional information
Federal Tax Credit for New & Used Electric Vehicles
A federal tax credit is available for new and used electric vehicles that meet requirements specified in Internal Revenue Code Section 30D.
New Vehicle Clean Credit up to $7,500.
You may qualify for a credit up to $7,500 if you buy a new, qualified plug-in EV. The Inflation Reduction Act of 2022 changed the rules for this credit for vehicles purchased from 2023 to 2032. Information about new vehicles purchased in 2022 and before or for vehicles purchased in 2023 and after.
Used Vehicle Clean Credit up to $4,000.
Beginning January 1, 2023, if you buy a qualified used electric vehicle (EV) from a licensed dealer for $25,000 or less, you may be eligible for a used clean vehicle tax credit. The credit equals 30% of the sale price up to a maximum credit of $4,000. Additional Details.
The credit is nonrefundable, so you can't get back more on the credit than you owe in taxes. You can't apply any excess credit to future tax years.
Starting in January 2024, an Inflation Reduction Act provision allows consumers to transfer the tax credit to car dealers, reducing the purchase price of eligible new and used vehicles at the time of sale.
- Consult your tax adviser to make sure you qualify
- Tax credit amount varies based on vehicle details
- Restrictions apply, subject to change without notice