Time is running out for Hoosiers who want to buy an electric car using federal tax credits.
The Biden administration set up a $7,500 credit for new EVs and a $4,000 tax credit for used ones, with certain restrictions. The “One Big Beautiful Bill” ends those tax credits on Sept. 30.
Richard Steiner is the president of the Hoosier Electric Vehicle Association out of Indianapolis — which educates people on how to own and operate electric cars. He said several of its members are taking advantage of the expiring tax credits to replace their EV or get a second one.
But will first-time EV buyers take advantage of the credit? Stenier is not so sure.
“If they've never had experience owning an electric vehicle, they most likely don't have the confidence to buy their first electric vehicle in order to take advantage of the tax credits," he said.
Carl Lisek is the executive director of the nonprofit Drive Clean Indiana. He said Indiana will likely see a dip in EV sales once those tax credits end.
“I think the efficiencies of the electric vehicles will continue to persuade drivers, as the range of these electric vehicles continue to increase. But short term, yes, I definitely think it will have an effect on, you know, people that potentially were on the fence," Lisek said.
READ MORE: How to qualify for tax credits for new and pre-owned electric vehicles
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Lisek said he’s optimistic about the future of electric vehicles long-term.
Companies like Ford have announced major investments in EV manufacturing. Though passenger car sales have trended down slightly, EV sales have gone up.
The number of public charging stations in Indiana has more than doubled in the past five years. Steiner said several EVs can now use Tesla’s highway charging network — which also makes it easier for EV owners to travel.
Rebecca is our energy and environment reporter. Contact her at rthiele@iu.edu or on Signal at IPBenvironment.01. Follow her on Twitter at @beckythiele.