Several rebate and credit programs exist to save EV owners money, to reduce the initial cost and to support a smooth transition in transportation electrification. The availability of these financial incentives depends on your location, and new programs can open anytime. The information below can guide you and provide details on the qualifications for receiving rebates and credits, helping you take full advantage of these opportunities! 

Electric Vehicles:

Tax credits and direct pay up to $7,500 are available for many EVs purchased for personal use. There are specific qualifications depending on when the vehicle was purchased and other factors. Even private sales can be eligible for these tax credits, through innovative programs such as KeySavvy.

See if Your Vehicle Qualifies

Charging Equipment:

Whether you want to buy an EV charger for your home, business, or non-profit the equipment may qualify for tax credits (or direct pay for organizations that do not pay taxes) and other incentives to offset the cost.  

Although some EVs have a higher up-front cost than their gas-powered counterparts, they have lower fuel and maintenance costs that add up over time.  

Fuel Savings Calculator:

According to the U.S. Department of Energy, in 2023, it cost a national average of about six dollars ($6) to drive 200 miles in an EV. See how much you can save using this fuel savings calculator.

 

While savings on maintenance depends on the driver, vehicle type, and even the location, overall savings are experienced by EV drivers. The Consumer Report estimated that EVs owners save about $4,600 in maintenance cost over the life of the vehicle. These savings are a result of less moving parts (about 1,980 less), so EVs do not require oil changes, coolant flushes, air filters, spark plugs, belts, hoses, or mufflers. 

The batteries in electric-drive vehicles are generally designed to last for the expected lifetime of the vehicle. Like the engines in conventional vehicles, the advanced batteries in electric vehicles (EVs) are designed for extended life but will wear out eventually. Many manufacturers offer 8-year/100,000-mile warranties for their EV batteries.

Level	Location	Voltage	Requirements
1	Homes Workplaces	120	Standard outlet A dedicated circuit is ideal
2	Homes Workplaces	240	Changes to electrical panel New circuit
3 - DC Fast Charger	Commercial Locations	480	Additional transformer

Reduced Energy Costs: The average U.S. driver can save nearly $1,500 per year on fuel costs by switching to an EV, according to Great Plains Institute. 

Lower Maintenance Costs: Electric vehicles have less moving mechanical parts than traditional gasoline or diesel-powered engines. This generally means that there are fewer parts to replace, resulting in reduced maintenance costs. Although this may not always be the case, reports show that EV drivers may pay less than half compared to those with internal combustion engines (gas or diesel). 

Improved performance: The benefits of having fewer moving parts are more than less maintenance. EVs have higher torque and perform more efficiently. 

Improved Air Quality: Though conventional gasoline vehicles are becoming cleaner and other alternative-fuel vehicles can alleviate air pollution, EVs offer the greatest air quality benefits of any available technology. Battery EVs have exceptional air quality benefits such as reducing emissions of reactive organic gases, nitrogen oxides (the precursors to smog) and carbon dioxide emissions.

• Further, the over 55% of the energy NES purchases from TVA that customers use to charge EVs comes from clean sources, and TVA has a goal of being net-zero carbon by 2050.

Local Economic Impact: Tennessee is a part of the southeast’s growing “battery belt”. This is a region that is attracting manufacturers of batteries, specifically batteries for EVs. The increasing number of jobs and opportunities in this sector is supporting local and statewide economies.  

1 – Decide which EV and charging option works best for you!

3 – Contact NES at [email protected] to evaluate the service transformer and grid infrastructure serving your home or business. 

4 – Contact a qualified licensed electrician to evaluate your current home or business' electrical infrastructure and determine what upgrades, if any, need to be made. Several auto manufacturers are working with their customers to provide site assessments and EVSE installation cost estimates. Customers should check with the auto manufacturer to determine if this is a service they provide. 

Several rebate and credit programs exist to save EV owners money, to reduce the initial cost and to support a smooth transition in transportation electrification. The availability of these financial incentives depends on your location, and new programs can open anytime. The information below can guide you and provide details on the qualifications for receiving rebates and credits, helping you take full advantage of these opportunities! 

Electric Vehicles:

Tax credits and direct pay up to $7,500 are available for many EVs purchased for personal use. There are specific qualifications depending on when the vehicle was purchased and other factors. Even private sales can be eligible for these tax credits, through innovative programs such as KeySavvy.

See if Your Vehicle Qualifies

Charging Equipment:

Whether you want to buy an EV charger for your home, business, or non-profit the equipment may qualify for tax credits (or direct pay for organizations that do not pay taxes) and other incentives to offset the cost.  

Although some EVs have a higher up-front cost than their gas-powered counterparts, they have lower fuel and maintenance costs that add up over time.  

Fuel Savings Calculator:

According to the U.S. Department of Energy, in 2023, it cost a national average of about six dollars ($6) to drive 200 miles in an EV. See how much you can save using this fuel savings calculator.

 

While savings on maintenance depends on the driver, vehicle type, and even the location, overall savings are experienced by EV drivers. The Consumer Report estimated that EVs owners save about $4,600 in maintenance cost over the life of the vehicle. These savings are a result of less moving parts (about 1,980 less), so EVs do not require oil changes, coolant flushes, air filters, spark plugs, belts, hoses, or mufflers. 

The batteries in electric-drive vehicles are generally designed to last for the expected lifetime of the vehicle. Like the engines in conventional vehicles, the advanced batteries in electric vehicles (EVs) are designed for extended life but will wear out eventually. Many manufacturers offer 8-year/100,000-mile warranties for their EV batteries.