Your Comprehensive Guide to Virginia EV Tax Credits, Rebates & Charging Incentives

Virginia Electric Vehicle Tax Credit, Rebates and Incentives

As of 2024, no Virginia EV tax credits are available to individuals or businesses, however, a few existing state-level incentives are worth mentioning and prospective buyers can still take advantage of the 2024 EV tax credit at the federal level.

Virginia Electric Vehicle Rebate Program

In 2021, the Virginia General Assembly established an EV rebate program that would create a $2,500 Virginia electric vehicle rebate available to anyone purchasing a new EV. Used EV buyers could also qualify for a $2,500 rebate as long as the vehicle’s price didn’t exceed $25,000. Additionally, an extra $2,000 rebate would be available to eligible buyers based on income level.

Although as of 2024, the program is still awaiting funding, it will remain in place until 2027, and these Virginia EV rebates could become retroactively available once the bill receives funding.

National Electric Vehicle Infrastructure Funding

In August 2023, Virginia received over $22 million in federal NEVI funding to go toward building public EV charging infrastructure and enhancing charging accessibility.

The current goal is to address gaps in charging availability, improve reliability by upgrading older public stations, and build a modern highway network with a charging station every 50 miles.

NEVI funding will also support the adoption of public EV charging stations in urban, suburban, rural, and disadvantaged communities.

Electric Vehicle Charging Assistance Program

The Electric Vehicle Charging Assistance Program distributed over $1 million in grants designed to foster public-private partnerships for developing public EV charging in underserved communities.

Although applications are currently closed after distributing the initial grants, the program will begin accepting more applications to continue EV adoption in the state as more funding becomes available.

HOV Lanes Exemptions

As an EV owner in Virginia, you can also get a Clean Special Fuel license plate by paying an additional registration fee of $25. This license plate makes you eligible for an HOV exemption in some areas, including portions of I-64, I-264, I-564, the Dulles Toll Road, and even some parts of Alexandria.

Emissions Inspection Program Exemption

One of the other perks of driving an electric vehicle in Virginia is that, as zero-emission vehicles, EV owners are exempt state’s emissions inspection program. This means EV owners can save money on registration renewal costs, adding another financial benefit to going electric.

Utility Rebates For Electric Cars

Although as of 2024, no Virginia utilities offer rebates on EV purchases, Virginians still receive significant support in their transition to electric vehicles with other forms of financial incentives and support for driving electric.

Many utilities in the state are focusing on providing other valuable incentives, such as time-of-use pricing models, which can significantly reduce the cost of charging your EV at home. Additionally, utilities are investing in expanding the EV charging infrastructure in the state, making it more convenient for drivers to find charging stations.

As EV adoption increases, we can anticipate more utility companies to introduce rebate programs and other benefits to support this eco-friendly transition.

Virginia EV Charger Rebates

Although there are no residential rebates available at the state level on EV chargers yet, going electric can still help you save at the pump and you can also offset the upfront cost of charging at home by looking into financing an EV charging installation at your home.

Additionally, federal incentives for purchasing an EV charger can help you recoup to cost of your investment even faster.

Virginia Utility Rebates for Level 2 EV Chargers & Installation

Several Virginia utilities offer incentive programs designed to help you save on the installation of a Level 2 EV charger installation. Here’s an overview of the different programs and incentives for both residential and commercial EV charging installation.

Dominion Energy offers a $125 incentive for residential customers who purchase a qualifying Level 2 EV charger and enroll in the utility’s managed charging program. This program not only reduces the upfront cost but also promotes efficient energy use.

For commercial customers, Dominion Energy provides a substantial make-ready incentive, covering 50% of the cost associated with deploying a charging infrastructure for an electric fleet. Additionally, the program helps finance the other 50% through a repayable loan via your energy bills over the next ten years. This initiative exclusively applies to Level 2 EV charger installations only, making it an attractive option for businesses looking to electrify their fleets.

Powell Valley Electric Cooperative, in partnership with the Tennessee Valley Authority, offers a nonresidential rebate program that provides $1,000 to $2,000 towards the purchase