Florida EV Incentives

2019 Toyota Camry Hybrid Parked

 

When you drive an electric vehicle around Tampa, you’re saving money from fuel and maintenance costs, but did you know that you can potentially save on your purchase of an electric model upfront? There are several Florida electric vehicle incentives as well as a federal tax credit that you can enjoy. Besides savings from the government, you will also find exclusive ways to lower the price when you shop for a new Toyota from Wesley Chapel Toyota! Learn more about the Florida electric vehicle credit possibilities and more below from our finance team who have the latest information.

 

Florida Electric Vehicle Incentives

Before you buy an electric vehicle or hybrid model, be sure to take a look at the current Florida EV incentives to see if you’re eligible. Here are the rebates for residential customers: 

  • Plug-In Electric Vehicle (PEV) Rebate – OUC: Orlando Utilities Commission (OUC) offers rebates of $200 to residential customers who purchase or lease an eligible new or preowned PEV. You’ll need to apply within six months of the purchase or lease of the plug-in electric vehicle or PEV. See the OUC website for more information. 
  • All-Electric Vehicle (EV) and Electric Vehicle Supply Equipment (EVSE) Rebates – KUA: Kissimmee Utility Authority (KUA) offers rebates of $100 to residential customers for the purchase of a new EV and $100 for the purchase and installation of a home EVSE. The EV must be registered to the customer’s address, so you’ll need to provide proof of purchase The EVSE must be installed by a licensed electrical contractor and must meet all state and local codes. This rebate is limited to one rebate per vehicle and one EVSE rebate per household. Learn more here

Federal Electric Vehicle Credit 

Besides Florida electric vehicle credits, you may also qualify for the federal EV tax credit of up to $7,500. To earn this credit, you will need to buy a qualified new EV after December 31, 2009, and you will need to owe enough income tax to earn the full amount that your model is qualified for. Also, keep in mind that once a manufacturer has sold 200,000 eligible plug-in electric models or EVs, the credit will phase out after the second quarter. A qualifying model meets the following criteria: 

  • Draws propulsion using a traction battery that has at least 5 kilowatt-hours (kWh) of capacity
  • Uses an external source of energy to recharge the battery
  • Has a gross vehicle weight rating (GVWR) of up to 14,000 pounds
  • Meets specified emission standards 
  • Has to be mostly driven in the United States

If you’re considering a plug-in or battery model, you will need to check if it is built by a qualified manufacturer and Toyota is one of the qualified manufacturers! For example, if you buy a 2022 Prius Prime plug-in hybrid, you can potentially earn up to $4,502 while buying a 2022 RAV4 Prime plug-in hybrid can potentially offer a maximum credit of the full amount or $7,500. 

Exclusive Savings at Wesley Chapel Toyota 

In addition to exploring Florida EV incentives and federal tax credit, you can also enjoy specials at Wesley Chapel Toyota! Our finance experts are always trying to help our customers get the best pricing near the Lakeland area whenever they are buying a car from us. Enjoy our new vehicle specials and lease deals on your next electric or hybrid model! 

Toyota Electric & Hybrid Models

Depending on which tax credit or Florida EV incentives you are trying to use near St. Pete, the model that you want may or may not be eligible. However, Toyota has a whole lineup of hybrid models dating all the way back with the legendary Prius as well as more upcoming all-electric models like the all-new Toyota bZ4X and even more hybrid systems like the all-new Tundra i-Force MAX to be released mid-2022. Discover the whole lineup and be sure to check out the inventory at Wesley Chapel Toyota!

Ask Wesley Chapel Toyota About Florida Electric Vehicle Incentives! 

If you have any questions about any of the incentives, be sure to reach out to our team at Wesley Chapel Toyota. We can also keep you posted on upcoming electric models that you have your eyes on! Get competitive auto financing for your electric car in Wesley Chapel with us today.

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