Texas EV Incentive and Rebate Savings Calculator

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Texas EV Incentive and Rebate Savings Calculator

Estimate your total savings when purchasing or leasing an electric vehicle in Texas, combining federal tax credits, Texas utility rebates, fuel savings, and maintenance cost reductions.

Vehicle Purchase Price ($)

Vehicle Type

New Battery Electric Vehicle (BEV) New Plug-In Hybrid (PHEV) Used EV (≤$25,000 purchase price)

Estimated Federal Tax Liability ($)

Your federal income tax owed before credits (limits usable federal credit)

Annual Household Income ($)

Used to determine federal credit income eligibility

Federal Tax Filing Status

Single / Married Filing Separately Head of Household Married Filing Jointly

Utility Company Rebate ($)

Check with your Texas utility (e.g., Oncor: $250, Austin Energy: $1,200, CPS Energy: $250)

Annual Miles Driven

Current Gas Price ($/gallon)

Current/Comparison Gas Vehicle MPG

Electricity Rate ($/kWh)

Texas average ~$0.12/kWh; check your utility bill

EV Efficiency (miles per kWh)

Typical range: 3.0–4.5 mi/kWh (e.g., Tesla Model 3 ≈ 4.0, Chevy Bolt ≈ 3.5)

Ownership Period (years)

Calculate My Savings

function texCalc() { // --- Gather Inputs --- const vehiclePrice = parseFloat(document.getElementById('tex-vehicle-price').value); const vehicleType = document.getElementById('tex-vehicle-type').value; const taxLiability = parseFloat(document.getElementById('tex-tax-liability').value); const income = parseFloat(document.getElementById('tex-income').value); const filingStatus = document.getElementById('tex-filing-status').value; const utilityRebate = parseFloat(document.getElementById('tex-utility-rebate').value) || 0; const annualMiles = parseFloat(document.getElementById('tex-annual-miles').value); const gasPrice = parseFloat(document.getElementById('tex-gas-price').value); const mpg = parseFloat(document.getElementById('tex-mpg').value); const elecRate = parseFloat(document.getElementById('tex-electricity-rate').value); const evEfficiency = parseFloat(document.getElementById('tex-ev-efficiency').value); const years = parseFloat(document.getElementById('tex-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 (IRA 2022, effective Jan 1 2023) // ============================================================ // Income caps (MAGI): // Single / MFS: $150,000 new, $75,000 used // HoH: $225,000 new, $112,500 used // MFJ: $300,000 new, $150,000 used // MSRP caps: SUV/Van/Truck $80,000; Sedan/Wagon $55,000 (new BEV/PHEV) // New BEV: up to $7,500; New PHEV: up to $7,500 (battery-size dependent, assume max) // Used EV: 30% of sale price, max $4,000; price cap $25,000 // Credit is non-refundable → capped at tax liability

const incomeLimitsNew = { single: 150000, hoh: 225000, joint: 300000 }; const incomeLimitsUsed = { single: 75000, hoh: 112500, joint: 150000 };

let federalCredit = 0; let federalCreditNote = "";

if (vehicleType === "new_bev" || vehicleType === "new_phev") { const incomeLimit = incomeLimitsNew[filingStatus]; if (income > incomeLimit) { federalCredit = 0; federalCreditNote = "Income exceeds federal limit for new EV credit ($" + incomeLimit.toLocaleString() + ")."; } else { // MSRP cap check (simplified: use $80,000 cap for trucks/SUVs, $55,000 for others) // We'll apply $80,000 as the higher cap; user should verify their specific model const msrpCap = 80000; // conservative high cap; note sedans are $55,000 if (vehiclePrice > msrpCap) { federalCredit = 0; federalCreditNote = "Vehicle price exceeds MSRP cap ($80,000 for trucks/SUVs, $55,000 for sedans). Verify your model's cap."; } else { const maxCredit = 7500; // Non-refundable: capped at tax liability federalCredit = Math.min(maxCredit, taxLiability); federalCreditNote = "Up to $7,500 federal credit, limited to your tax liability."; } } } else if (vehicleType === "used_ev") { const incomeLimit = incomeLimitsUsed[filingStatus]; if (income > incomeLimit) { federalCredit = 0; federalCreditNote = "Income exceeds federal limit for used EV credit ($" + incomeLimit.toLocaleString() + ")."; } else if (vehiclePrice > 25000) { federalCredit = 0; federalCreditNote = "Used EV purchase price exceeds $25,000 cap for the used EV credit."; } else { // 30% of sale price, max $4,000, non-refundable const rawCredit = vehiclePrice * 0.30; federalCredit = Math.min(Math.min(rawCredit, 4000), taxLiability); federalCreditNote = "30% of purchase price, max $4,000, limited to tax liability."; } }

// ============================================================ // 2. TEXAS STATE INCENTIVES // Texas has NO statewide EV purchase rebate as of 2024. // Texas does have: // - AirCheckTexas Drive a Clean Machine: up to $3,500 for low-income // (income ≤ 300% federal poverty level; vehicle must be 10+ yrs old trade-in) // We'll note this but not auto-apply (requires eligibility verification). // - No state income tax → no state EV tax credit // ============================================================ const texasStateRebate = 0; // No universal statewide rebate const texasStateNote = "Texas has no universal statewide EV purchase rebate. " + "The AirCheckTexas program offers up to $3,500 for qualifying low-income residents " + "trading in older high-emission vehicles (not auto-calculated here).";

// ============================================================ // 3. UTILITY REBATE (user-entered) // ============================================================ // Already captured as utilityRebate

// ============================================================ // 4. FUEL SAVINGS // Annual gas cost (comparison ICE vehicle): // gasAnnual = (annualMiles / mpg) * gasPrice // Annual electricity cost (EV): // evAnnual = (annualMiles / evEfficiency) * elecRate // Annual fuel savings = gasAnnual - evAnnual // ============================================================ const annualGasCost = (annualMiles / mpg) * gasPrice; const annualEvCost = (annualMiles / evEfficiency) * elecRate; const annualFuelSavings = annualGasCost - annualEvCost; const totalFuelSavings = annualFuelSavings * years;

// ============================================================ // 5. MAINTENANCE SAVINGS // EVs save ~$0.06/mile vs ICE on average (Consumer Reports, AAA studies) // Breakdown: no oil changes (~$120/yr), fewer brake jobs (regen braking), // no transmission service, fewer engine repairs // Commonly cited: $800–$1,200/yr savings; use $0.06/mile // ============================================================ const maintSavingsPerMile = 0.06; // $/mile const annualMaintSavings = annualMiles * maintSavingsPerMile; const totalMaintSavings = annualMaintSavings * years;

// ============================================================ // 6. TOTAL SAVINGS SUMMARY // ============================================================ const totalIncentives = federalCredit + texasStateRebate + utilityRebate; const totalOperational = totalFuelSavings + totalMaintSavings; const grandTotal = totalIncentives + totalOperational;

// Effective net vehicle cost const netVehicleCost = vehiclePrice - totalIncentives;

// ============================================================ // Format Output // ============================================================ function fmt(n) { return '$' + n.toLocaleString('en-US', {minimumFractionDigits: 2, maximumFractionDigits: 2}); }

const vehicleTypeLabel = vehicleType === 'new_bev' ? 'New BEV' : vehicleType === 'new_phev' ? 'New PHEV' : 'Used EV';

let html = '### Your Texas EV Savings Estimate ';

// Incentives Table html += 'Incentive / SavingsAmount'; html += 'Federal EV Tax Credit (' + vehicleTypeLabel + ')' + fmt(federalCredit) + ''; if (federalCreditNote) { html += 'ℹ️ ' + federalCreditNote + ''; } html += 'Texas State Rebate' + fmt(texasStateRebate) + ''; html += 'ℹ️ ' + texasStateNote + ''; html += 'Utility Company Rebate' + fmt(utilityRebate) + ''; html += 'Total Upfront Incentives' + fmt(totalIncentives) + ''; html += '';

// Operational Savings Table html += 'Operational Savings (' + years + ' yr)AnnualTotal (' + years + ' yr)'; html += 'Fuel Savings (gas vs. electricity)' + fmt(annualFuelSavings) + '' + fmt(totalFuelSavings) + ''; html += 'Maintenance Savings (~$0.06/mile)' + fmt(annualMaintSavings) + '' + fmt(totalMaintSavings) + ''; html += 'Total Operational Savings' + fmt(annualFuelSavings + annualMaintSavings) + '' + fmt(totalOperational) + ''; html += '';

// Grand Total html += 'SummaryAmount'; html += 'Vehicle Purchase Price' + fmt(vehiclePrice) + ''; html += 'Less: Total Upfront Incentives-' + fmt(totalIncentives) + ''; html += 'Net Vehicle Cost After Incentives' + fmt(netVehicleCost) + ''; html += 'Plus: ' + years + '-Year Operational Savings-' + fmt(totalOperational) + ''; html += 'Total ' + years + '-Year Net Savings' + fmt(grandTotal) + ''; html += '';

// Fuel breakdown detail html += ''; html += 'Fuel Cost Detail:'; html += '• Gas vehicle annual cost: ' + fmt(annualGasCost) + ' (' + annualMiles.toLocaleString() + ' mi ÷ ' + mpg + ' MPG × $' + gasPrice.toFixed(2) + '/gal)'; html += '• EV annual electricity cost: ' + fmt(annualEvCost) + ' (' + annualMiles.toLocaleString() + ' mi ÷ ' + evEfficiency + ' mi/kWh × $' + elecRate.toFixed(3) + '/kWh)'; html += '• Annual fuel savings: ' + fmt(annualFuelSavings); html += '';

resultDiv.innerHTML = html; }

#### Formulas Used

Federal EV Tax Credit (IRA 2022):

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

Annual Maintenance Savings: Maintenance Savings = Annual Miles × $0.06/mile

Total N-Year Net Savings: Grand Total = Federal Credit + Utility Rebate + (Fuel Savings × Years) + (Maintenance Savings × Years)

#### Assumptions & References

More Calculators

References

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