GA Tax Credit

Incentives, like Georgia's previous EV Tax Credit, are proven to help support new technologies, like EVs. There are more than 25 plug in and battery electric vehicles now available in the Georgia market offering expanded choice and benefit to all Georgians. As battery prices come down and Georgia's utilities begin to develop supporting EV programs, support at the state level is needed to move the market from the early adopter stage to the mass adoption.

 

In the 2018 legislative session, a new EV tax credit, HB 98, sponsored by Representative Allen Peake (R-Macon) was under consideration.

 

Bill highlights (bill text available here):

 

  • $2,500 per vehicle

  • Eligible for vehicles under $60K

  • Available for sale and leased vehicles

  • Applies to all-electric battery electric vehicles and plug-in hybrid electric vehicles

  • One per individual

  • Sunsets in 2023

  • Capped annually at $10 million

 

A new tax credit can offer multiple benefits, including:

 

Economic Benefits

  • Electric vehicles generate economic benefits to the state - for every dollar spent on an EV Tax Credit, there is $7.50 in benefits.

  • EVs will greatly reduce the $30 billion spent on oil imports into Georgia, significantly improving our national security.

  • EVs are cheaper to fuel than gas-powered vehicles, and increasing the use of EVs can keep more money IN Georgia. Consumers can save between $3,500 and $9,000 over the lifetime of the EV depending on gas prices hovering around $2.50 - $3.50 per gallon.

   

Reduced Emissions

  • EVs reduce emissions. Many of Georgia’s counties continue to suffer from reduced air quality and do not meet federal air quality standards. Increasing the number of electric vehicles driven over conventional gasoline vehicles will help reduce overall emissions and help Georgia comply with federal attainment standards, reducing the health and economic costs of non-compliance.

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© 2019 by Electrify the South

P.O. Box 1842
Knoxville, TN 37901