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Incentives Are Currently Available for Your Business

  • The US Department of Transportation (DOT) is offering $1.5 Billion for public entities including states, local governments, tribes, and port authorities to deploy charging infrastructure and other surface transportation projects through its Rebuilding American Infrastructure with Sustainability and Equity (RAISE) Program. DOT will provide reimbursement of up to 80% of total eligible project costs for most project types. Applications will be evaluated competitively and are due by February 28, 2024.

  • The US Environmental Protection Agency (EPA) is offering $3 Billion for port authorities and state, regional, local, and tribal agencies with jurisdiction over ports, and air pollution control agencies to deploy zero-emission port equipment and to purchase and install charging infrastructure through its Clean Ports Program. EPA will provide reimbursement of up to $500 Million, up to 80-90% of total eligible project costs, depending on applicant and project details. Applications will be evaluated competitively and will be accepted between February 2024 and May 2024.

  • The US Environmental Protection Agency (EPA) is offering $500M for school districts, charter schools, tribes, private school bus contractors, and eligible third parties to deploy clean and zero-emission school buses and to purchase and install L2 and DC fast chargers through its Clean School Bus (CSB) Rebate Program 2023. EPA will provide reimbursement of up to $145,000 - $345,000 per bus-and-charger bundle, depending on applicant and bus details. Awards will be made by lottery and applications are due January 31, 2024.

  • The National Electric Vehicle Infrastructure Formula Program allocates $5 billion in funding for EV charging infrastructure across 75,000 miles of highway across the country. Your organization must be within one mile of an established alternative fuel corridor to qualify and may need to meet other requirements as well.

  • The 30C Alternative Fuel Infrastructure Tax Credit, commonly referred to as the “federal tax credit,” gives qualifying businesses a 30% tax credit, up to $100,000, for the purchase and installation of EV charging infrastructure. Businesses must have installed the stations between Jan. 1, 2023, and Dec. 31, 2032, and must claim the credit on their federal tax return. Guidance on new eligibility requirements is forthcoming, based on prevailing wages and the applicant’s location within designated census tracts.

 

Your Sustainability Goals Are Within Reach in New Mexico

  • Public Charging Make Ready Incentives – Xcel provides no-to-low cost construction services for EV charging make-ready infrastructure that Xcel will install, own and maintain. There may be some cost to customers for a line extension. Customers must commit to installing at least one L2 or DCFC port per site and make the stations available for public use.

  • PNM is offering $2,500 for installing Level 2 chargers and $25,000 for installing DC Fast chargers for businesses, MUDs, and fleets.

  • El Paso Electric offers businesses a rebate of up to $3,500 to offset 50% of the installation costs of a qualifying networked Level 2 charging station and MUDs $5,250 to offset 75% of the installation costs of a qualifying networked Level 2 charging station. Also offers public transit operators and large customer fleets (e.g., public transit, school districts, etc.) a rebate of up to $26,000 to offset 50% of the installation cost of a DCFC station with up to $37,000 in service upgrades per site and a rebate of up to $3,500 to offset 50% of the installation cost of a qualifying networked Level 2 charging station with up to $13,000 in service upgrades per site.

 

Home EV Charging Incentives in New Mexico

  • PNM is offering a $500 rebate for installing a networked Level 2 charging station.

  • El Paso Electric has a $500 rebate towards the purchase of a qualifying networked/smart Level 2 charging station.

  • Xcel Energy is offering customers to lease a level 2 charging station for $12/mo which is applied directly to your Xcel Energy bill. Also offering $500 home wiring rebate for residential customers, or $2,500 for Income-Qualified customers. Can also help offset cost of L2 charger.https://ev.xcelenergy.com/home-wiring-rebate-nm

 

EV Federal Tax Credits

  • A tax credit is available for the purchase of a new qualified PEVs. The minimum credit amount is $2,500, and the credit may be up to $7,500, based on each vehicle's traction battery capacity and the gross vehicle weight rating. The credit will begin to be phased out for each manufacturer in the second quarter following the calendar quarter in which a minimum of 200,000 qualified PEVs have been sold by that manufacturer for use in the United States. This tax credit applies to vehicles acquired after December 31, 2009.

  • A credit is available for the purchase of a new qualified two-wheeled plug-in electric drive vehicle. The credit is for 10% of the cost of the qualified vehicle, up to $2,500. This incentive originally expired on December 31, 2017, but was retroactively extended through December 31, 2021.

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