Indiana EV Tax Credit and Incentive Savings Calculator

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Indiana EV Tax Credit and Incentive Savings Calculator

Estimate your total electric vehicle savings in Indiana, including federal tax credits, Indiana utility rebates, fuel cost savings, and maintenance savings over your ownership period.

Vehicle Purchase Price ($)

Vehicle Type

New Battery Electric Vehicle (BEV) New Plug-In Hybrid (PHEV) Used EV (2+ years old)

Battery Capacity (kWh)

Check your vehicle specs. Common: Nissan Leaf=40, Tesla Model 3=75, Chevy Bolt=65

Does vehicle MSRP qualify for federal credit?

Sedan/Car (MSRP ≤ $55,000) SUV/Truck/Van (MSRP ≤ $80,000)

Your Modified Adjusted Gross Income (MAGI) ($)

Single filer limit: $150,000 | MFJ limit: $300,000 | Head of Household: $225,000

Tax Filing Status

Single Married Filing Jointly Head of Household

Annual Miles Driven

Current Gas Vehicle MPG

Current Gas Price ($/gallon)

Indiana average ~$3.20–$3.60/gallon

Home Electricity Rate ($/kWh)

Indiana average ~$0.12–$0.14/kWh (Duke Energy, AES Indiana, NIPSCO)

EV Efficiency (miles per kWh)

Typical range: 2.5–4.5 mi/kWh. Check EPA rating for your vehicle.

Indiana Utility Provider

Duke Energy Indiana AES Indiana (Indianapolis Power & Light) NIPSCO CenterPoint Energy (Vectren) Other / Rural Co-op

Ownership Period (Years)

Calculate My Savings

function indCalc() { // --- Gather Inputs --- const vehiclePrice = parseFloat(document.getElementById('ind-vehicle-price').value); const vehicleType = document.getElementById('ind-vehicle-type').value; const batteryKwh = parseFloat(document.getElementById('ind-battery-capacity').value); const msrpCapType = document.getElementById('ind-msrp-cap-check').value; const agi = parseFloat(document.getElementById('ind-agi').value); const filingStatus = document.getElementById('ind-filing-status').value; const annualMiles = parseFloat(document.getElementById('ind-annual-miles').value); const gasMpg = parseFloat(document.getElementById('ind-gas-mpg').value); const gasPrice = parseFloat(document.getElementById('ind-gas-price').value); const elecRate = parseFloat(document.getElementById('ind-electricity-rate').value); const evEfficiency = parseFloat(document.getElementById('ind-ev-efficiency').value); const utilityProvider= document.getElementById('ind-utility-provider').value; const ownershipYears = parseFloat(document.getElementById('ind-ownership-years').value);

// --- Validation --- const errors = []; if (isNaN(vehiclePrice) || vehiclePrice 0) { resultDiv.innerHTML = 'Please fix the following:' + errors.map(e => '').join('') + ''; return; }

// ============================================================ // 1. FEDERAL TAX CREDIT (IRS Form 8936 / Inflation Reduction Act) // ============================================================ // MSRP caps const msrpCapSedan = 55000; const msrpCapSuv = 80000; const msrpCap = (msrpCapType === 'suv') ? msrpCapSuv : msrpCapSedan;

// AGI income limits const agiLimits = { single: 150000, mfj: 300000, hoh: 225000 }; const agiLimit = agiLimits[filingStatus];

let federalCredit = 0; let federalCreditNote = '';

if (vehicleType === 'used_ev') { // Used EV Credit: 30% of sale price, max $4,000 // AGI limits: Single $75k, MFJ $150k, HOH $112.5k const usedAgiLimits = { single: 75000, mfj: 150000, hoh: 112500 }; const usedAgiLimit = usedAgiLimits[filingStatus]; if (agi usedAgiLimit) { federalCreditNote = 'Used EV Credit: Income exceeds limit ($' + usedAgiLimit.toLocaleString() + ' for your filing status). No federal credit.'; } else if (vehiclePrice > 25000) { federalCreditNote = 'Used EV Credit: Vehicle price exceeds $25,000 cap. No federal credit.'; } } else { // New EV Credit: up to $7,500 for BEV, up to $3,750 for PHEV // Battery component: $3,750 if battery ≥ 7 kWh // Critical minerals: $3,750 (assumed met for simplicity — user should verify) const meetsAgi = agi = 7) ? 7500 : 3750; federalCreditNote = 'New BEV Credit: Up to $7,500 (IRS §30D). Assumes critical minerals & battery component requirements met. Verify with manufacturer.'; } else if (vehicleType === 'new_phev') { // PHEV: $3,750 if battery ≥ 7 kWh (battery component only typically) federalCredit = (batteryKwh >= 7) ? 3750 : 0; federalCreditNote = 'New PHEV Credit: Up to $3,750 for battery ≥ 7 kWh (IRS §30D). Verify assembly & sourcing requirements.'; } } }

// ============================================================ // 2. INDIANA STATE INCENTIVES // Indiana does NOT have a state EV tax credit as of 2024. // Indiana charges an EV registration surcharge ($150/yr BEV, $50/yr PHEV). // ============================================================ const stateCredit = 0; const evSurchargeAnnual = (vehicleType === 'new_phev') ? 50 : 150; // Indiana IC 9-18.1-5-11 const evSurchargeTotalCost = evSurchargeAnnual * ownershipYears;

// ============================================================ // 3. UTILITY REBATES (Indiana Utilities) // ============================================================ // Duke Energy Indiana: Up to $500 for Level 2 charger installation // AES Indiana: Up to $500 EV charger rebate // NIPSCO: Up to $500 EV charger rebate // CenterPoint/Vectren: ~$250 charger rebate // These are approximate — users should verify current programs const utilityRebates = { duke: { charger: 500, name: 'Duke Energy Indiana' }, aes: { charger: 500, name: 'AES Indiana' }, nipsco: { charger: 500, name: 'NIPSCO' }, vectren: { charger: 250, name: 'CenterPoint Energy (Vectren)' }, other: { charger: 0, name: 'Other Utility' } }; const utilityInfo = utilityRebates[utilityProvider]; const utilityRebate = utilityInfo.charger;

// ============================================================ // 4. FEDERAL CHARGER TAX CREDIT (30C) // 30% of charger + installation cost, max $1,000 for residential // Assumed average Level 2 charger + install = $1,500 // ============================================================ const chargerInstallCost = 1500; // typical Level 2 charger + install const federalChargerCredit = Math.min(0.30 * chargerInstallCost, 1000);

// ============================================================ // 5. FUEL COST SAVINGS // Annual gas cost = (annualMiles / gasMpg) * gasPrice // Annual electricity cost = (annualMiles / evEfficiency) * elecRate // ============================================================ const annualGasCost = (annualMiles / gasMpg) * gasPrice; const annualElecCost = (annualMiles / evEfficiency) * elecRate; const annualFuelSavings = annualGasCost - annualElecCost; const totalFuelSavings = annualFuelSavings * ownershipYears;

// ============================================================ // 6. MAINTENANCE SAVINGS // EVs save ~$0.03–$0.04/mile vs ICE (no oil changes, fewer brake jobs, etc.) // AAA estimates EV maintenance ~$0.031/mile vs ICE ~$0.061/mile // Savings = ~$0.030/mile // ============================================================ const maintenanceSavingsPerMile = 0.030; const annualMaintenanceSavings = annualMiles * maintenanceSavingsPerMile; const totalMaintenanceSavings = annualMaintenanceSavings * ownershipYears;

// ============================================================ // 7. TOTAL SAVINGS SUMMARY // ============================================================ const totalIncentives = federalCredit + stateCredit + utilityRebate + federalChargerCredit; const totalSavings = totalIncentives + totalFuelSavings + totalMaintenanceSavings - evSurchargeTotalCost; const netVehicleCost = vehiclePrice - federalCredit - stateCredit;

// ============================================================ // FORMAT OUTPUT // ============================================================ function fmt(n) { return '$' + n.toLocaleString('en-US', {minimumFractionDigits:2, maximumFractionDigits:2}); } function fmtInt(n) { return '$' + Math.round(n).toLocaleString('en-US'); }

resultDiv.innerHTML = ` ### ⚡ Your Indiana EV Savings Estimate

CategoryAmount

📄 Tax Credits & Incentives (One-Time)

Federal EV Tax Credit (IRS §30D / §25E) ${fmtInt(federalCredit)}

Indiana State EV Tax Credit $0 (Indiana has no state EV credit)

${utilityInfo.name} EV Charger Rebate ${fmtInt(utilityRebate)}

Federal Home Charger Tax Credit (IRS §30C, 30% of ~$1,500) ${fmtInt(federalChargerCredit)}

Total One-Time Incentives ${fmtInt(totalIncentives)}

⛽ Over ${ownershipYears}-Year Ownership Period

Annual Gas Cost (${annualMiles.toLocaleString()} mi ÷ ${gasMpg} MPG × ${fmt(gasPrice)}/gal) ${fmtInt(annualGasCost)}/yr

Annual EV Electricity Cost (${annualMiles.toLocaleString()} mi ÷ ${evEfficiency} mi/kWh × ${fmt(elecRate)}/kWh) ${fmtInt(annualElecCost)}/yr

Annual Fuel Savings ${fmtInt(annualFuelSavings)}/yr

Total Fuel Savings (${ownershipYears} years) ${fmtInt(totalFuelSavings)}

Total Maintenance Savings (~$0.030/mile × ${annualMiles.toLocaleString()} mi × ${ownershipYears} yrs) ${fmtInt(totalMaintenanceSavings)}

Indiana EV Registration Surcharge (${fmtInt(evSurchargeAnnual)}/yr × ${ownershipYears} yrs) -${fmtInt(evSurchargeTotalCost)}

🏆 Total Estimated Savings Over ${ownershipYears} Years ${fmtInt(totalSavings)}

Effective Net Vehicle Cost (after federal credit) ${fmtInt(netVehicleCost)}

⚠ Federal Credit Note: ${federalCreditNote || 'Federal credit applied as shown above.'}

💡 Tip: As of 2024, you may transfer the federal new EV credit directly to the dealer at point of sale (instant rebate), subject to IRS eligibility verification.

`; }

#### Formulas Used

Federal New EV Credit (IRS §30D): Credit = $7,500 (BEV, battery ≥ 7 kWh) or $3,750 (PHEV, battery ≥ 7 kWh) Subject to: MSRP ≤ $55,000 (sedan) or $80,000 (SUV/truck); MAGI ≤ $150,000 (single) / $300,000 (MFJ) / $225,000 (HOH)

Federal Used EV Credit (IRS §25E): Credit = MIN(30% × Sale Price, $4,000) Subject to: Sale Price ≤ $25,000; MAGI ≤ $75,000 (single) / $150,000 (MFJ) / $112,500 (HOH)

Federal Home Charger Credit (IRS §30C): Credit = MIN(30% × Charger + Install Cost, $1,000) — assumes ~$1,500 total install cost

Annual Fuel Savings: Gas Cost = (Annual Miles ÷ MPG) × Gas Price/gallon EV Cost = (Annual Miles ÷ EV Efficiency mi/kWh) × Electricity Rate/kWh Annual Savings = Gas Cost − EV Cost

Annual Maintenance Savings: Savings = Annual Miles × $0.030/mile (AAA estimate: EV ~$0.031/mi vs ICE ~$0.061/mi)

Indiana EV Registration Surcharge (IC 9-18.1-5-11): BEV: $150/year | PHEV: $50/year (in addition to standard registration)

Total Savings: Total = Federal Credit + Utility Rebate + Federal Charger Credit + (Annual Fuel Savings × Years) + (Annual Maintenance Savings × Years) − (EV Surcharge × Years)

#### Assumptions & References

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References

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