Electric Vehicle Offers & Information
Ohio Edison - New Time-Varying Rate Option
FirstEnergy is implementing phase one of a Grid Modernization Plan that includes installing 700,000 smart meters in parts of the Ohio Edison, Cleveland Electric Illuminating Company and Toledo Edison service areas. Customers with smart meters may be eligible for a new, voluntary Time-Varying Rate (TVR) offer that the Public Utilities Commission of Ohio has approved.
Customers enrolling in a time-varying rate have an opportunity to save money compared to the Standard Service Offer Rate, also known as the “Price to Compare.” This rate option allows customers to lower their energy costs by shifting or reducing their energy usage during peak times when electricity demand is highest.
Customers enrolling in a time-varying rate have an opportunity to save money compared to the Standard Service Offer Rate, also known as the “Price to Compare.” This rate option allows customers to lower their energy costs by shifting or reducing their energy usage during peak times when electricity demand is highest.
Federal Tax Credit for New & Used Electric Vehicles
A federal tax credit is available for new and used electric vehicles that meet requirements specified in Internal Revenue Code Section 30D.
New Vehicle Clean Credit up to $7,500.
You may qualify for a credit up to $7,500 if you buy a new, qualified plug-in EV. The Inflation Reduction Act of 2022 changed the rules for this credit for vehicles purchased from 2023 to 2032. Information about new vehicles purchased in 2022 and before or for vehicles purchased in 2023 and after.
Used Vehicle Clean Credit up to $4,000.
Beginning January 1, 2023, if you buy a qualified used electric vehicle (EV) from a licensed dealer for $25,000 or less, you may be eligible for a used clean vehicle tax credit. The credit equals 30% of the sale price up to a maximum credit of $4,000. Additional Details.
The credit is nonrefundable, so you can't get back more on the credit than you owe in taxes. You can't apply any excess credit to future tax years.
Starting in January 2024, an Inflation Reduction Act provision allows consumers to transfer the tax credit to car dealers, reducing the purchase price of eligible new and used vehicles at the time of sale.
New Vehicle Clean Credit up to $7,500.
You may qualify for a credit up to $7,500 if you buy a new, qualified plug-in EV. The Inflation Reduction Act of 2022 changed the rules for this credit for vehicles purchased from 2023 to 2032. Information about new vehicles purchased in 2022 and before or for vehicles purchased in 2023 and after.
Used Vehicle Clean Credit up to $4,000.
Beginning January 1, 2023, if you buy a qualified used electric vehicle (EV) from a licensed dealer for $25,000 or less, you may be eligible for a used clean vehicle tax credit. The credit equals 30% of the sale price up to a maximum credit of $4,000. Additional Details.
The credit is nonrefundable, so you can't get back more on the credit than you owe in taxes. You can't apply any excess credit to future tax years.
Starting in January 2024, an Inflation Reduction Act provision allows consumers to transfer the tax credit to car dealers, reducing the purchase price of eligible new and used vehicles at the time of sale.
- Consult your tax adviser to make sure you qualify
- Tax credit amount varies based on vehicle details
- Restrictions apply, subject to change without notice
Incentive Information
Electric Vehicle Federal Tax Incentive up to $7,500
Federal Tax Credit for EV Charging Equipment up to $1,000
Consumers who purchase qualified residential charging equipment may receive a tax credit of 30% of the cost, up to $1,000.
- Consult a tax professional to see if your installation qualifies
- Visit IRS website for additional information
Incentive Information
Federal Tax Credit of 30% of the cost of residential charging equipment, up to $1,000.
Ohio Electric Vehicle Fee & Emissions Testing Exemption
All-electric vehicles are exempt from emissions testing in Ohio, however, there is an additional $200 annual registration fee for electric vehicles.
- Bypass annual trips to emissions testing facilities and avoid fees
- Additional $200 registration fee for plug-in electric vehicles
- Policy is subject to change
- Check the Ohio EPA and Ohio BMV websites for the latest information