Are you interested in learning about the EV Incentives in South Carolina? You’re likely one of many. It’s a simple no-brainer that if people are interested in alternative energy sources, they might also be interested in electric vehicles.
There’s a reason for that. Electric vehicles are among some of the many alternatives to things that are bad for the environment. In this case, we’re talking about the gas-guzzlers – cars. If you know anything about the environment, you know how devastating vehicles that use traditional fuel are for the environment.
Every big car brand is focused on creating a line of electric vehicles because EV is the future, but we all know it can be a pricey alternative. That’s why the government provides incentives to make purchasing an electric vehicle more affordable and easily accessible to the public.
Let’s dig a little deeper into the phenomenon of electric vehicles.
Electric Vehicles (EV) – What Are They?
When most Americans think about electric vehicles, they think of Tesla, Elon Musk, the stereotypes of EV owners, or the positive effect an electric vehicle owner can have on the environment. But, as I mentioned before, Tesla isn’t the only brand on the market.
In the simplest terms, an electric vehicle is a vehicle that uses an electric motor rather than a combustion engine. Instead of guzzling up gas, electric vehicles have electrical power sources. These power sources are charged and hold a charge for hours of consistent driving or even days at a time.
Standard combustion engines are powered by burning and consuming gas. According to the US Energy Information Administration, car pollution from gasoline and diesel consumption makes up 30% of the United States’ carbon emissions.
Carbon dioxide (CO2) emission is one of the causes of global warming. Ever since this discovery, the scientific community has been searching for ways to reduce our negative impact on the environment. Solar energy is one way. Electric vehicles are another.
There are two types of electric vehicles. An AEV, also known as an all-electric vehicle, runs a hundred percent on electricity. Just plug it into a power source, the battery will charge, and the electric motor will run.
Second, there’s a PHEV, also known as a plug-in hybrid electric vehicle. These are a little different than the all-electric vehicles we just discussed. They have the same capability as the AEV. They run on electricity. You plug them in, power them up, and the electric motor can run for miles. But these also have a combustion engine.
If you accidentally or are forced to use all the electrical power in a PHEV, the car will switch over to the combustion engine, so you don’t have to stop. This is great for people who travel great distances and might find themselves in an area without a charging station.
What Are the EV Incentives in South Carolina?
We’re not going to pretend that electric vehicles are cheap because they’re not. Just like many pro-environment solutions, there’s a little bit of an upfront, extra cost. That said, the government is aware of that, so they’ve created programs to incentivize the purchase of electric vehicles.
South Carolina has many incentives for businesses and private entities to build and produce electric vehicles. These won’t affect you much as a consumer, but there is a pretty great incentive provided by the United States Federal Government that you can definitely take advantage of.
The Federal Tax Credit
The U.S. Government offers a federal tax credit of $2,500 to $7,500 to anyone who purchases an electric vehicle. The exact amount of the credit is dependent on your individual taxes and the battery’s total capacity of the EV you are buying.
The tax credit allows you to claim an amount equal to your actual tax liability. It’s not the same as a rebate, which means you don’t get any money in hand, necessarily. It’s more of a credit that can reduce the amount you owe or pay in taxes. Of course, with these kinds of programs, there are always stipulations. They include:
- Your EV battery must be able to hold 4 kilowatt-hours or more.
- You can only get the credit if you’ve purchased a road-going vehicle that is charged from external electrical sources.
- It must be either an AEV (all-electric vehicle) or PHEV (plug-in hybrid electric vehicle). This means that normal hybrids won’t work.
It’s also important to mention that some manufacturers have reached the limit on how many credits they can give per model they sell. Manufacturers are limited to 200,000 for each model, so make sure you talk to your dealer about the availability of the federal tax credit when you’re purchasing your new EV.
Why Are Electric Vehicles Beneficial?
We’ve talked a lot about what electric vehicles are and what kind of programs are available to help you buy one. Still, it’s necessary to go over why choosing an electric vehicle is a smart alternative to your standard combustion engines. Let’s start with the most obvious.
Electric vehicles (EV) are better for the environment.
Think about how many cars there are in the world. Just drive through a large metropolitan area during 5 o’clock traffic and look around. Now, multiply that by thousands, and that might give you a fraction of an idea about how many cars actually exist in the world.
Normal cars with combustion engines release carbon dioxide (CO2) and other greenhouse gases into the atmosphere. That’s a lot of stuff that doesn’t belong, just floating around up there and destroying the ozone layer. This is why car pollution has been listed as one of the top contributors to global warming. These are the exact same reasons we suggest the switch to solar energy. The more we do to help our environment, the better.
We’re not just talking about global warming, though.
Electric vehicles (EV) are better for your health.
Not only do electric vehicles help combat our carbon emissions, protecting us from global warming, and potentially contributing to us saving the planet. It’s also an alternative that’s better for our health.
We’re talking about car pollution here, a type of pollutant that has been linked to asthma, bronchitis, cancer, and even premature death. These are genuine and real problems in our society, but there’s actually something we can do to fix it. If more and more people switched to electric vehicles (among other alternative energy sources), some of these problems could be stopped in their tracks.
Electric vehicles (EV) are better for driving.
Since we’re talking about pollution: what about noise pollution? Electric vehicles are known to be much quieter than their combustible counterparts. Even when an EV runs on maxed-out power, just gunning it, it is so much quieter than a similar or comparable vehicle with a combustion engine. Because of this, electric vehicle owners get to enjoy peaceful drives without all those pesky car noises.
Fun fact: there are actually lawmakers across the United States who have proposed adding noisemakers to electric vehicles just so pedestrians can hear them when they’re coming down the road!
Electric vehicles also have immediate torque, otherwise known as turning force, allowing them to accelerate faster than combustion vehicles. For anyone who enjoys going from 0 mph to cruising will love this. Electric vehicles are also incredible for driving in cities. Additionally, electric vehicles vibrate and shake less while driving. This means that drives will be quiet and smooth, making every drive more enjoyable.
It’s no joke. Electric vehicles aren’t just about saving the environment (though that’s a plus). EV owners can’t stop raving about how well their new, environment-friendly cars actually drive.
Electric vehicles (EV) save you money.
Lastly, and this one may come as a surprise, electric vehicles are statistically cheaper in the long run because they need much less maintenance than other vehicles.
They also don’t require gas, so you don’t have to be constantly worried about what’s happening with the oil economy every time you need to fill up. How much is the price per gallon right now? Who cares! If you have an all-electric vehicle, you’ll never have to fill up again, which means you’ll never have to worry about what happens when we run out of oil. You’re set.
Research suggests that the average electric vehicle owner will save around $3,078 to $10,445 compared to a traditional vehicle owner. Sure, electric vehicles will cost a little more upfront, but with the federal tax credit and the money you won’t be spending on maintenance or gas, you’re more than making up for it.
Owning an EV in South Carolina comes with some great benefits. The spread of electric vehicles helps reduce our carbon emissions, which is helping us combat global warming. Car pollution from burning traditional gas makes up a lot of our annual pollution here in the United States, so that’s another bonus. It’s also great for the overall health of our communities.
Beyond that, people absolutely love their electric vehicles because they’re easier to drive, and they save their owners money in the long run. To top it off, just like with solar rebates in South Carolina, the government will even give you a tax credit for buying one. What more do you need?
Start shopping for your electric vehicle today.