Minnesota 2024 EV Tax Credits Guide [+ Calculate Your Savings]
Steve Birkett is an electric vehicle advocate based in Greater Boston, Massachusetts. He is a content creator and marketing professional who contributes written and recorded pieces to a wide range of media outlets. His analysis has been featured in Find The Best Car Price, WWLP TV, and Torque News, among others. He has also had video content featured on Inside EVs. Birkett was an EV Guide for Plug in America events in Massachusetts (Drive Electric Cambridge and Drive Electric Lowell) and Ohio (Earth Day 2019 at Cleveland Zoo). He participates in quarterly advisory panel meetings for EVolve New York (a state-level charging initiative) and has contributed to focus groups for prominent U.S. charging networks.
Birkett is a father-of-two who loves nothing more than packing up the family and hitting the road in their latest electric car, which is currently a 2022 Hyundai IONIQ 5. With multiple Chevy Bolts in his past, as well as a Chevy Volt and Tesla Model 3 LR in the extended family, plus various EV rentals when he ventures back home to his native United Kingdom, Birkett has more than 100,000 all-electric miles under his belt and is always ready to try out a new electric vehicle.
For press inquiries, contact steve@findthebestcarprice.com
It's true that electric vehicles (EVs) can be expensive upfront. Thankfully, there are federal and state incentives like rebates and tax credits to make EVs more financially appealing.
But what state EV incentive programs are in place in Minnesota?
Let’s see what current incentives are available in your area and whether or not you qualify for them.
Last Updated: January 2024
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Minnesota EV Savings Calculator
Use the calculator below to see which models qualify for the federal EV tax credit and for any state-specific incentives that can help you save even more.
What EV Incentives Are Available in Minnesota?
Minnesota recently became one of the more EV-friendly states in the Midwest, with incentives for electric vehicles at the time of buying and post-purchase.
The North Star State's programs apply to both new and used EV purchases, bringing them in line with incentives available at the federal level.
Incentives for Purchasing an EV in Minnesota
Minnesota now offers incentives for the purchase of both new and used electric vehicles. Specific requirements are still to be confirmed, but the following purchase incentives will be in place for future EV buyers in Minnesota:
- A $2,500 rebate for buying a new electric vehicle with MSRP below $55,000.
- A $600 rebate for buying a used electric vehicle with MSRP below $25,000.
As the price caps are in line with federal incentives for vehicles other than trucks and SUVs, Minnesotans will often be able to combine the two. This equates to $10,000 in combined incentives for qualifying models purchased new, or up to $4,600 off the sales price of a used EV.
Other EV Incentives Offered in Minnesota
There are several notable post-purchase EV incentives available in Minnesota. These include:
- Runestone Electric Association provides rebates of up to $500 to residential customers who install level 2 home charging. The organization also offers time-of-use (TOU) rates for customers to access cheaper charging during off-peak hours.
- Minnesota Power gives residential customers a $500 rebate for the purchase of a Level 2 EV charging station. Enrollment in the company's TOU plan is required for customers to be eligible.
- Connexus Energy offers its residential customers a rebate of up to $500 toward the installation of a qualified Level 2 EV charging station. This rebate may rise when the equipment is paired with other Conexus Energy incentives. Eligible applicants must also enroll in dedicated EV charging plan with the company.
- Dakota Electric Association (DEA) also offers up to $500 for either level 1 or level 2 charging equipment and special TOU rates, though the equipment must be sub-metered to a separate circuit for use monitoring.
- Lake Region Electric Cooperative (LREC) has the same offer as DEA above in place for its customers. Learn more via their ChargeWise site.
- Otter Tail Power Company has a $400 rebate in place for its customers to install level 2 EV charging at home.
Visit our EV community on Facebook to connect with other electric vehicle owners in your area and find out if specific offers are available.
Now that you know what electric vehicle incentives are available in Minnesota, what else do you need to know about making the switch to all-electric transportation?
Read our guidance on how to prepare for an EV to make sure the models you’re considering will meet your real-world driving needs!
