2015 EV Incentives: Electric Cars for Any Budget

Indeed, electric vehicles are changing the definition of automobile performance both in terms of speed and efficiency.

While Tesla gains most of the attention for its luxury electric vehicles, an increasing number of state and federal incentives are making otherwise luxury vehicles much more affordable — and more popular.

Here’s a look at some incentives, and the best valued cars on the market.

Federal Plug-In Electric Drive Vehicle Credit (IRC 30D)

This incentive is available for all plug in motor vehicles acquired after December 31, 2009.

The base tax credit is $2,500, with additional funds given to vehicles that that draw propulsion energy from a battery with at least five kilowatt hours of capacity, and for each additional kilowatt hour that exceeds five.

In total, the maximum amount that can be credited is $7,500... And the incentive is provided for the first 200,000 vehicles, and then phases out. Additionally, state tax credits exist that provide an even greater discount on electric vehicles.

CT CHEAPR EV Tax Credit

In Connecticut, residents can receive rebates of up to $3,000 for eligible vehicles, through the Connecticut Hydrogen and Electric Automobile Purchase Rebate (CHEAPR). The rebate amount is dependent on the battery capacity, with the maximum $3,000 reserved for vehicles with a greater than 18kWh battery capacity, as well as any fuel cell electric vehicle.

Rebate incentives like IRC 30D and CHEAPR help strengthen the electric vehicle industry and make it easier for consumers to make the switch.

Below are a few of the best electric vehicle selections that made the cut for IRC 30D, as well as CHEAPR... In all cases, these incentives make these vehicles extremely attractive to everyday consumers.

BMW i3 and Mercedes B-Class EV: The High End

THE BMW i3 comes in with the highest base MSRP at $42,400. It qualifies for both the CHEAPR rebate and federal tax credit, resulting in a total discounted price of $31,900... An extremely affordable price for a new BMW.

The i3 also has the fastest charge time at 3 hours, with a 22 kWh battery.

The BMW i3 has an EV range of 81 miles and a touts an impressive 124 MPGe. For those looking to spend a little more, the i3’s EV range can increase to 150 with the purchase of the Range Extender.

Coming in at right around the same price is the Mercedes Benz B-Class Electric. After both rebates, the estimated total price is $30,950.

Having a more impressive EV range and battery size than the BMW i3, the Mercedes B-Class Electric goes for 87 miles and 28 kWh respectively, it falls just slightly shorter with an 84 MPGe and a 3.5 hour charge.

Mercedes has a reputation for engineering high quality automobiles, and the B-class Electric is no exception.

Mitsubishi i-MiEV: The Most Affordable

The i-MiEV has a base MSRP of $22,995. Having a battery size of 16kWh, it meets the requirements to receive half of the maximum CHEAPR Rebate, coming in at $13,995 after the Federal Tax Credit is also applied.

The stats are less impressive than the higher end models, but the price is unbeatable. Still, the i-MiEV achieves a commendable 112 MPGe, with a 62 mile EV range. It does however require a longer charger, taking 6 hours to reach full capacity.

Volkswagen e-Golf: The Best of Both Worlds

The Volkswagen e-Golf is an impressive automobile that won’t break the bank. With a retail price of $28,995, it comes in at $18,495 after both rebates. With a powerful 24.2 kWh battery, it gets 116 MPGe, with an EV Range of 83 miles.

It takes about 4 hours for this vehicle to charge completely, which isn’t too shabby considering the size of the battery.

The market for electric vehicles is growing fast. With the increasing availability of rebates, electric vehicles are sure to become a familiar sight on the road.

All images courtesy of CT DEEP.