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OCTOBER 6, 2023
Illinois has an illustrious goal — seeing a million electric vehicles (EVs) on its roads by the year 2030. What better way to incentivize electrification than offer great exemptions and rebates? Illinois offers its residents up to $4,000 in rebates towards the cost of an EV, and a handful of additional incentives and exemptions for EV owners.
Read on to learn more, and if you’re not a Chicagoan or even an Illinois resident, don’t worry. We still have something for you in this series where we’re exploring the best electric vehicle rebates by state.
What the city of Chicago lacks in number of incentives for EV drivers, it makes up for in the quality of the rebates and exemptions on offer.
Read on to see what we mean.
As part of Illinois’ Climate and Equitable Jobs Act (CEJA) of 2021, the Illinois Environmental Protection Agency (IEPA) offers a multifaceted incentive program for EV drivers.
Under this program, the IEPA can fund up to 80% of the cost of getting a charging station installed. However, this is only applicable to publicly-available level 2 and level 3 chargers — so it’s not viable for most individual Chicago residents.
But the Electric Vehicle Rebate Program portion of the CEJA should be interesting for everyone who drives an EV in Chicago.
As of July 2022, Illinois residents who buy all-electric passenger vehicles from an Illinois dealer are eligible to receive up to $4,000 back on their purchase. This discount is set to run through 2028, but the rebate does drop dramatically over time.
It should be noted that at the time of this writing the next round of funding, and application acceptance, is from November 1, 2023, to January 31, 2024. Low income applicants have priority, and certain requirements apply.
This is a great incentive for Chicagoans and other Illinois residents. To find the details of the act, if you qualify, and how to sign up, the best place to visit is the IEPA website.
In a move that’s similar to many other states with a focus on electrification, battery-powered electric vehicles are exempt from state motor vehicle emissions inspections, according to the Illinois Vehicle Emissions Testing Program website.
On the utilities front, Ameren Illinois does offer a special Residential Rate Program that discounts electricity when charging during off-peak hours — but they don’t appear to serve the Chicago area, specifically.
We hope to see them expand to the area and to see other utility providers begin to offer environmental incentives like rate and EV charger install discounts!
There are still more ways to save thanks to the federal Inflation Reduction Act of 2022, which serves all U.S. taxpayers.
This act can grant taxpayers a tax credit worth as much as $7,500 when they purchase a full EV or plug-in hybrid. While brand new vehicles are eligible for the $7,500, used ones can get as much as $4,000 in tax credits.
In addition, a tax credit of up to $1,000 is available for the purchase and installation of an EV charger for drivers in rural or low-income communities.
Want to see whether or not any of these credits apply to you? Visit the IRS website for more:
And if a 2024 proposal from the U.S. Department of the Treasury gets accepted, tax credits for new and used EVs may become more accessible. The proposal includes language that would make tax breaks available at the time of purchase, in the form of a discount. This is some interesting news we’ll be following!
According to the city of Chicago, electricians need a permit to install an EV charger, and that includes in single-family homes. While permits may sound like added cost and hassle, Kopperfield always recommends following state and local requirements. Permit ensure your EV charger installation is safe, and are often required by homeowners insurance policies to ensure your coverage remainds valid.
When you work with Kopperfield, our Kopperfield Certified Pros in Chicago make getting a permit easy. They will include a permit in your free online estimate, handle all permit paperwork, and schedule an inspection.
If you’re interested in getting your own Level 2 charger at home and taking advantage of all the discounts available to you, you don’t have to navigate the bureaucracy alone.
Within one business day, an electrical pro will contact you with a quote and all the details on permitting and rebates. Use Kopperfield to approve your quote and schedule a hassle-free install.