Qualifying clean energy vehicle buyers are eligible for a tax credit of up to $7,500

Oct. 6, 2023

If you buy a new or used clean energy vehicle, you may qualify for a non-refundable tax credit. Visit FuelEconomy.gov for a list of qualified vehicles. Qualified two-wheeled plug-in electric vehicles may also be eligible for this credit.

You claim the credit using Form 8936, Qualified Plug-in Electric Drive Motor Vehicle Credit, and submit it with your individual tax return.

Beginning in 2024, buyers can transfer clean vehicle credits to qualified sellers at the time of sale and use the credit amount as a down payment or a reduction of the manufacturer's suggested retail price.