Illinois Electric Vehicle Rebate

Tiny car with coins and finance paperwork

 

When you’re researching electric vehicles and comparing hybrid vs. electric models, you’ll find that there are many advantages to owning an EV. One of the main benefits of an electric vehicle though is the potential to earn a rebate. According to the Illinois Environmental Protection Agency (IEPA), many Illinois residents are eligible for an Illinois electric vehicle rebate when they purchase or lease a new or pre-owned electric vehicle starting July 1st, 2022.

 

 

The rebate can range anywhere from $1,000 to $4,000 depending on when you purchase or lease the EV. There are some restrictions to the rebate, but it’s an exceptional offer to take advantage of if you’re considering an electric vehicle for your Peoria commute. Learn more about the Illinois electric vehicle incentives and rebates today with Sam Leman Automotive Group!

Illinois Electric Vehicle Rebates & Timeframes

As we mentioned, the IEPA states that starting July 1st, 2022, many Illinois residents purchasing or financing a new or pre-owned EV can take advantage of certain rebate amounts. However, those amounts change depending on the timeframe that you purchased or leased the electric vehicle.

Additionally, applicants receiving the rebate can only do so once in a 10-year period. The rebate may also not exceed the price of the vehicle being purchased. There are additional restrictions that may apply, so we recommend that you reference Illinois laws and regulations to confirm that you’re eligible. With that being said, let’s take a closer look at the available IEPA rebates and their timeframes:

  • Rebate Amount Starting July 1st, 2022: $4,000
  • Rebate Amount Starting July 1st, 2026: $2,000
  • Rebate Amount Starting July 1st, 2028: $1,000

Illinois Electric Vehicle Incentives & Charging

In addition to receiving a rebate for purchasing or leasing an electric vehicle, you may also qualify for additional incentives when charging an EV in your own Bloomington home. Some residential areas charging an electric vehicle could qualify for the residential rate program to help you save when your EV is plugged in during a preferred time. Here are some tips about the Illinois residential charging rate program:

  • Charge During Low EV Demand Hours: When you enroll in the residential rebate charging program and charge during the Preferred Charging Period (PCP), you will receive a credit on your electric delivery service.
  • Charging Outside of Low Demand Hours: If you must charge outside of the PCP, it may be a good idea to charge in the morning or evening hours to avoid peak usage charges.
  • Register With Ameren Illinois: Ameren Illinois can help you monitor when to charge during low EV demand hours, and when you register, you can begin enjoying some incentives with EV charging in your residential home.

Find Out More About Illinois Electric Vehicle Incentives & Rebates With Sam Leman Automotive Group!

If you’re confused about the EV incentives and have any questions, you can always contact our team online for assistance. We have multiple locations conveniently located near you if you prefer to visit us in person. We look forward to helping you make the switch to EVs!

 

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