Minnesota Electric Vehicle Incentives

If you are considering purchasing a MINI Electric Hardtop 2 Door to upgrade your Minneapolis area commute, you’ll be happy to know that there are a variety of Minnesota electric vehicle incentives that you can take advantage of. These incentives, along with the federal EV tax credit, help to make electric vehicles more accessible to drivers from Saint Paul to Maple Grove and throughout Minnesota. Learn more in this guide from Motorwerks MINI.

What Minnesota Electric Vehicle Incentive Am I Eligible For?

While currently, no Minnesota EV tax credit is available, there is a federal tax electric vehicle and hybrid tax credit in 2022 for qualifying vehicles. This is in addition to the general Minnesota vehicle sales tax deduction also offered by the IRS. Residents can also receive an EV Toll Credit, as well as a rebate on the installation of a qualifying at-home EV charger from the utility of which they are customers. Check out the available incentives, rebates, and tax credits below: 

• Federal EV Tax Credit: All electric and plug-in hybrid cars purchased new in or after 2010 may be eligible for a federal income tax credit of up to $7,500. The credit amount will vary based on the capacity of the battery used to power the vehicle. In addition, Congress retroactively extended the alternative vehicle refueling equipment tax credit through December 31, 2020. Consumers could be eligible for up to a 30% federal tax credit for the cost of the EVSE and installation. For more information about the tax credit please see the US Dept. of Energy website.
• Minnesota Vehicle Sales Tax Reduction: The sales tax deduction only applies to your federal return. It won’t come into play when you file your Minnesota state taxes. You can deduct only the tax portion, not the filing fee, license plate cost, or wheel tax.
• EV Toll Credit Pilot Program: Offers a $125 credit for purchasing or leasing a plug-in hybrid (PHEV) or a $250 credit for purchasing or leasing a battery electric vehicle (BEV). The credit goes to your MnPass account for use in toll lanes.
• Xcel Energy: Customers can get a $2,000 rebate for a plug-in hybrid electric vehicle and register for a time-of-use (TOU) charging program. The TOU program allows those who have installed qualifying EV chargers to enjoy lower rates by charging their vehicle during times when electricity is in less demand.
• Dakota Electric: A $500 rebate is offered to customers who install a qualifying Level 1 or Level 2 EV charger. A TOU program is also offered through the ChargeWise program.
• Connexus Energy: With the purchase and installation of a Level 2 EV charger, residents can get a $500 rebate, as well as special TOU rates.
• Lake Region Electric Cooperative: Customers who purchase and install a Level 1 or Level 2 charger can receive a rebate of up to $500 plus a TOU rate through ChargeWise.
• Runestone Electric: A $500 rebate and TOU rates are available to customers who install a Level 2 charger.
• Otter Tail Power Company: Offers a $400 rebate for installing a Level 2 charger along with a TOU program.

Learn More About Minnesota Electric Vehicle Incentives at Motorwerks MINI! 

Whether you want to get the details regarding the Minnesota EV tax credit, the Minnesota vehicle tax deduction, or are curious about the MINI Cooper electric range, the team at Motorwerks MINI is here to help. If you are interested in purchasing a new MINI Cooper Electric model, make sure to explore our new vehicle specials to take advantage of some of the best deals in Saint Paul and Maple Grove area. As always, please feel free to contact us with any questions you may have.