A Guide to the Illinois EPA Electric Vehicle Rebate Program

Electric vehicles are quickly becoming some of the most popular and widespread vehicles on the market. As the industry turns more and more towards electrification, tons of new models are popping up each year, and so are the benefits of purchasing them. Not only do you save money by having to charge the vehicles instead of pumping them full of gasoline, but you can save even more money by getting rebates for purchasing them. Today we wanted to give you all the info you need to know about these EV tax credits, including what vehicles it applies to, how to go about getting it and other frequently asked questions. In other words, we’ve put together a guide to the Illinois EPA Electric Vehicle Rebate Program.

Let’s start by analyzing the facts about the Electric Vehicle Rebate Program provided by the Illinois EPA, which stands for Environmental Protection Agency for those unaware. There are two rebates available, the first being for any new all-electric vehicle that isn’t a motorcycle, and the second being exclusively for all-electric motorcycles. The motorcycle rebate is good for up to $1,500 while the other is for up to $4,000.

In order to get this fantastic rebate, you need to apply for it during an “open rebate cycle.” Your application must be submitted within 90 days of purchase, so if you plan on applying make sure that you time your purchase around the open rebate cycle. Right now, it looks like the next rebate application cycle that the Illinois EPA has planned will come sometime in January 2025.

You also need to be eligible in order for your application to be considered. While other eligibility requirements could arise, right now the eligibility requirements include the following:

• Purchaser must be a resident of Illinois both at the time of vehicle purchase and when the rebate is issued
• Vehicle must be purchased from an Illinois dealership, licensed by the Illinois Secretary of State
• Vehicle must be purchased outright, not rented or leased
• Vehicle can be new or used, but cannot have already been used to receive an Illinois rebate by a previous owner
• Purchaser can only receive one rebate
• Purchaser must be an individual; businesses, organizations, government units and other non-individual entities cannot be eligible
• Rebate amount cannot exceed the vehicle’s purchase price
• Purchaser must own the vehicle for at least 12 consecutive months after the purchase date

This question is easier to answer than it seems. Only all-electric vehicles are eligible for the rebate program, meaning hybrid vehicles and even plug-in hybrid vehicles do not qualify. In other words, only the following vehicles can be eligible for the rebate:

• IONIQ 5
• IONIQ 5 N
• IONIQ 6
• Kona Electric

The Illinois EPA has put together a comprehensive frequently asked questions document, so there isn’t much that we could say that hasn’t been covered on that document. We do want to mention that that document was written last year, so some of the information might be a bit inaccurate for the upcoming cycle. With that in mind, we will touch on a few of the FAQs for which we can provide different answers.

• How much overall funding is available?
  • $14 million for the current fiscal year
• Who is considered a licensed dealer?
  • World Hyundai Matteson!

There are many other questions answered there in detail, so be sure to check it out when determining your eligibility – especially if you have questions. You can also feel free to give us a call with your questions and we’ll answer to the best of our abilities.