Clean Vehicle & EV Charging Credits – 2025 Highlights

Under the Inflation Reduction Act, individuals can access valuable tax credits when purchasing new or used clean vehicles or installing residential charging equipment. Here's a breakdown of the key credits and how they apply in 2025:

1. Credit for New Clean Vehicles – Up to $7,500

This credit applies to the purchase of eligible new electric vehicles (EVs), plug-in hybrids, and fuel cell vehicles.

Eligibility Requirements:

• Income Limits:

  • $300,000 or less (Married Filing Jointly)

  • $225,000 or less (Head of Household)

  • $150,000 or less (Single)

• MSRP Cap:

  • SUVs, vans, and trucks: $80,000 max

  • Other vehicles: $55,000 max

2. Credit for Used Clean Vehicles – Up to $4,000

Designed for buyers of previously owned clean vehicles, this credit helps lower the barrier to EV ownership.

Eligibility Requirements:

• Income Limits:

  • $150,000 or less (MFJ)

  • $112,500 or less (HOH)

  • $75,000 or less (Single)

• Vehicle Cost: $25,000 or less

• Model Year: At least 2 years older than the purchase year

• Buyer Limit: Cannot have claimed this credit in the past three years