Hawaii EV Incentives: Powering Green Transportation
Hawaii is one of the most progressive states for using clean energy. But only 1.9% of the vehicles registered in the state are electric, while an additional 2.4% are hybrid. So, does Hawaii have incentives to boost the EV adoption rate in the state?
At a Glance:
1️⃣ Hawaii doesn’t provide individual rebates or tax credits for electric vehicle (EV) owners. Still, it does have schemes to make owning an EV easier, such as the Transportation Electrification Loan Program for government entities.
2️⃣ Utility incentives are available in Hawaii, although finding a rebate can be challenging.
3️⃣ Residents of Hawaii, like all U.S. citizens, are eligible for the federal tax credit of up to $7500 for owning an electric vehicle.
This article dives deeper into all the incentives available in Hawaii, discusses how they work, and gives you some insight into how to benefit from them. So let’s get into it.
Overview Of Hawaii EV Incentives
Regarding individuals, Hawaii does not have a rebate program or a tax credit for electric vehicle owners. However, state schemes promote electric vehicle use and have programs designed to make owning an electric car easier.
For example, the Transportation Electrification Loan Program aims to see more government entities using electric vehicles by offering large amounts of money specifically for purchasing EVs.
HI does, however, offer utility incentives. But finding a rebate is tricky, so be sure to keep reading for the utility incentives in detail further down.
Finally, residents of Hawaii are eligible for the federal tax credit of up to $7500 for owning an electric vehicle.
Hawaii Electric Vehicle Utility Incentives
While not exactly market-leading, these incentives do encourage EV adoption in the state. Here are a few utility incentives for EVs in Hawaii:
|Hawaii Electric Company||This incentive does not put money directly back into your pocket. However, they offer a Time Of Use Rate, which encourages you to charge at specific times, generally off-peak. So, it helps you save money. All customers and anyone who uses one of their public stations may qualify.|
|Hawaii Energy||The rebates available from Hawaii Energy are aimed at commercial applicants and multi-dwelling residential installers. The rebate starts at $1500 and goes up to $35,000.|
While the rebate from Hawaii Energy does not apply to residential customers, it does provide some benefits. It does an excellent job of promoting the installation of EV chargers at places of work as well as apartment blocks and so on.
Can You Claim The Federal EV Tax Credit In Hawaii?
The tax credit is available to all citizens of the United States, including those in Hawaii. When purchasing an eligible electric vehicle, you can claim a tax credit of up to $7500.
When shopping around for your new car, I recommend speaking to dealers as they should always be up to date with which vehicles are eligible.
Are There Any Benefits To Hawaii’s EV Incentives?
Hawaii has over 780 charging ports throughout the islands, and some are free. So, charging your vehicle is not an issue, which is true in most states in the US. So, yes, Hawaii is an excellent state for electric vehicles.
Hawaii is trying to reach a point of using 100% renewable energy by 2045, and electric vehicles will play a massive role in that transition. It is better to get in early, as EVs are inevitable.
How To Take Advantage Of Hawaii’s EV Incentives
For individuals, the best way to take advantage of Hawaii’s EV incentives is to contact your local utility provider and determine if you qualify for the time-of-use rate.
If you are a business, I recommend contacting your local council or utility provider, as they might have an incentive for you.
Can Electric Cars Park For Free In Hawaii?
In Hawaii, electric cars can park for free in public parking spaces. But remember that not all parking spaces are public. For example, shopping centers and hospitals often have private parking spots.
Electric cars no longer receive free parking at airports. The program ran from 2012 and ended in 2020.
Are Charging Stations Free In Hawaii?
Charging stations are popping up everywhere, so it is hard to give exact numbers. That said, approximately 40% of Hawaii’s charging stations are free to use. These are typically level-two DC fast chargers.
If you install a charger on your property, you could be eligible for Time Of Use (TOU) rates. These rates can significantly decrease the amount you pay for charging your vehicle. However, it depends on your utility provider.
You need to look at federal schemes if you are a resident of HI. For example, the government EV charger tax credit can help cover the cost of home-charging equipment.
Here’s a quick recap of the most important points to remember from this article:
1️⃣ Hawaii is well suited for electric cars, with over 780 charging ports throughout the island, some of which are free.
2️⃣ The state aims to use 100% renewable energy by 2045, with electric vehicles playing a critical role in this transition.
3️⃣ To take advantage of Hawaii’s EV incentives, individuals should contact their local utility provider, while businesses can reach out to their local council or utility provider for potential incentives.