NY EV Tax Credit and Incentive Savings Calculator

Estimate your total savings from federal and New York State EV tax credits, rebates, and incentives when purchasing or leasing an electric vehicle in New York.

Used to calculate NY Drive Clean Rebate. Check your vehicle specs.
Used to determine federal credit eligibility. Single filers: ≤$150K; Head of household: ≤$225K; Joint filers: ≤$300K (new); ≤$75K/$112.5K/$150K (used).
The federal credit is non-refundable (new vehicles). It cannot exceed your tax liability. Used vehicle credit is also non-refundable.
Qualifying households may receive additional NY incentives (e.g., NYSERDA EV rebate bonus).
Some NY utilities offer additional EV rebates.
Federal 30C tax credit covers 30% of EVSE cost (up to $1,000 for individuals). NY may offer additional utility rebates.

Formulas Used

Federal New EV Credit (IRC §30D):
BEV: min($7,500, Federal Tax Liability) — if AGI ≤ limit and MSRP ≤ $80,000
PHEV (battery ≥ 7 kWh): min($3,750, Federal Tax Liability)
AGI limits: Single ≤ $150K | Head of Household ≤ $225K | Joint ≤ $300K

Federal Used EV Credit (IRC §25E):
min(Sale Price × 30%, $4,000, Federal Tax Liability) — if AGI ≤ limit and price ≤ $25,000
AGI limits: Single ≤ $75K | HoH ≤ $112.5K | Joint ≤ $150K

NY Drive Clean Rebate (NYSERDA):
BEV (battery ≥ 40 kWh): $2,000 | BEV (10–39 kWh): $500
PHEV (battery ≥ 10 kWh): $500
Applies to new vehicles with MSRP ≤ $42,000

Low/Moderate Income Bonus: +$500 if income ≤ 80% AMI and Drive Clean Rebate applies

Federal 30C EVSE Credit:
min(Charger Cost × 30%, $1,000)

Total Savings:
Federal Credit + NY Drive Clean Rebate + LMI Bonus + Utility Rebate + EVSE Credit + Utility Charger Rebate

Effective Vehicle Price:
Purchase Price − Total Savings

Assumptions & References

  • Federal credits are based on the Inflation Reduction Act (IRA) of 2022 and IRS guidance for tax years 2023–2025.
  • The federal new vehicle credit ($7,500) assumes the vehicle meets IRA critical minerals and battery component requirements. Many vehicles qualify for only $3,750. Verify at fueleconomy.gov.
  • Starting January 1, 2024, the federal credit can be transferred to the dealer as a point-of-sale discount (IRC §30D(g)).
  • NY Drive Clean Rebate amounts and MSRP caps are based on NYSERDA's current schedule. Rebate amounts may vary. See nyserda.ny.gov.
  • Utility rebates (Con Edison, LIPA) are approximate and subject to program availability and funding. Verify directly with your utility.
  • The federal 30C EVSE credit applies to residential charging equipment installed at your primary residence.
  • New York does not impose state sales tax on EVs (exemption under NY Tax Law §1115(hh)) — additional savings not included here.
  • This calculator does not account for NY State income tax credits, HOV lane access, or reduced registration fees.
  • All credits are non-refundable unless otherwise noted; they reduce tax owed but do not generate a refund.

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