In addition to Efficiency Maine instant rebates, you may be eligible for additional financial incentives to offset the purchase price of an electric vehicle. Click here to see which electric vehicles are eligible for an Efficiency Maine instant rebate.
Federal Tax Credits
Some EVs are eligible for federal tax credits of up to $7,500 through the federal government. However, these tax credits will continue to phase out as car manufacturers reach their quota of 200,000 cars sold. For more information and to see if an EV qualifies for a tax credit, click here. Federal tax credits are not administered by Efficiency Maine.
Federal tax credits for EVs are claimed on the individual’s federal income tax return.
For personal vehicles, use Form 8936, “Qualified Plug-in Electric Drive Motor Vehicle Credit”. Report the tax credit from Form 8936 on the appropriate line of your Form 1040, U.S. Individual Income Tax Return. For vehicles purchased in 2010 or later, this credit can be used toward the alternative minimum tax (AMT).
If the qualifying vehicle is purchased for business use, the tax credit for the business use of an electric vehicle is reported on Form 3800, General Business Credit.
Scroll to the bottom of this page to find the forms you will need to claim your federal tax credit.
Car Manufacturer Instant Rebates
Car manufacturers often provide their own instant rebates in addition to state rebates and federal tax credits. These offers can change from month to month, so ask a Maine Participating Dealer for the most current deals.
Some car manufacturers fold the federal tax credits into the cost of a monthly lease of an EV. Ask a participating dealership for more information.