Why Settle for Less? Go Electric and Reap the Rewards.
Look, Oklahoma isn't just about oil wells and tornadoes; we're also on the cusp of a green revolution. And yes, you can take part in this revolution by purchasing an electric vehicle (EV). But what's the icing on the cake? Oklahoma offers some killer EV tax credits. Here's the rundown of how you can stick it to the man while saving the environment.
Oklahoma State Incentives: Not Just OK, They're Great!
First off, Oklahoma has its own tax credits in place for new EVs. Depending on the weight of your vehicle, you could get a credit of up to $50,000. Yeah, you read that right. For passenger cars weighing 6,000 pounds or less, the maximum credit is $5,500. So basically, buying an electric car isn't just eco-friendly; it's wallet-friendly too.
What about used EVs? Well, the Sooner State isn't too keen on those, meaning you'll only get a tax break for a new vehicle.
Charging Stations: Powering Your Home, Powering Your Life
Are you worried about home charging stations? Worry not. Although it's not a state initiative, customers of Oklahoma Electric Cooperative and Public Service Company of Oklahoma are eligible for rebates on installing Level 2 home charging stations. The amounts range from $200 to $250. It's like they're paying you to charge your car at home!
Additional Charges: The Not-So-Sweet Stuff
Look, it's not all unicorns and rainbows. Oklahoma charges an extra $110 annual fee to register an electric car. That number drops to $82 for plug-in hybrids. And come 2024, they're adding a tax of three cents per kWh for public charging stations. So yes, you're saving, but also keep these additional charges in mind.
Federal Credits: Uncle Sam's Got Your Back
Alongside Oklahoma's state incentives, you could also be eligible for a Federal Electric Car Tax Credit of up to $7,500. The federal credit, however, is subject to your tax situation and the car's battery capacity. Make sure to check your qualifications before making a move.