Virginia 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
There’s no denying that electric vehicles (EVs) quickly get expensive when it comes to sticker price. Fortunately, 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 Virginia?
Let’s see what current incentives are available in your area and whether or not you qualify for them.
Last Updated: January 2024
Table of Contents
Virginia EV Savings Calculator
What EV Incentives Are Available in Virginia?
Virginia offers various incentives for buying new and used electric vehicles, as well as post-purchase initiatives to help with the costs of installing home charging and running your EV. Read on to find out where and how you can save money on the model you want.
Incentives for Purchasing an EV in Virginia
Virginia offers up to $2,500 in rebates for the purchase of a new or used electric vehicle. A further $2,000 is available for households whose income does not exceed 300% of current poverty guidelines.
The following qualification criteria apply for Virginia's $2,500 EV incentive:
- For new EV purchases, the vehicle's sale price can be no higher than $55,000.
- For used EV purchases, the vehicle's sale price can be no higher than $25,000.
- Applicant must reside in Virginia.
- The vehicle must be powered solely by electricity.
- Rebates are subject to available funding, which may be exhausted before the year to which it is allocated ends.
Virginia's EV incentives can also be combined with federal tax credits to save more than $10,000 on a new electric vehicle purchase.
Other EV Incentives Offered in Virginia
Virginia offers the following incentives for electric vehicle charging, maintenance, or related benefits:
- Virginia High Occupancy Vehicle (HOV) Lane Exemption- Alternative fuel vehicles (AFVs) displaying the Virginia Clean Special Fuel license plate may use Virginia HOV lanes, regardless of the number of occupants.
- Danville Utilities provides a $200 rebate for residential customers who install a Level 2 home charge station.
- Dominion Energy offers residential customers a rebate of $125 for buying a new level 2 home charger and enrolling in the organization's "demand response" program. Participants will also receive a yearly payment of $40 on the anniversary of their enrollment.
- Appalachian Power Company has a rebate in place of $100 for installing an ENERGY STAR certified home charger, as well as time-of-use (TOU) rates to encourage charging during off-peak times, when prices are lower.
Now that you know what electric vehicle incentives are available in Virginia, 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!
