New road law giving drivers up to $2,500 cash back in effect from August 15 – but it’s on first-come-first-served basis

A CAR rebate program just opened offering thousands of American drivers money to install EV chargers.

Maryland recently implemented the FY25 Electric Vehicle Supply Equipment Rebate Program with cash reimbursements for the purchase and/or installation of EV chargers at homes and businesses.

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Getty

The new law includes rebates that are issued on a first-come, first-served basis, with limited funding available, Electrek reported.

That being said Maryland residents who want a Level 2 EV charger should act fast.

Those who apply for the EV charger rebate are reimbursed for expenses incurred after the project is completed.

“By increasing the number of charging stations across the state, this program is reducing reliance on fossil fuels,” Maryland Energy Administration director Paul G. Pinsky said.

“Improving air quality, and creating a cleaner, healthier environment for future generations.”

The rebate covers up to 50 percent of the charger costs but is capped at $700 for residential installations.

The program is also limited to one rebate per resident.

For commercial EV charger installations, up to 50 percent of costs are covered with a $5,000 cap per charger.

The rebates reimburse drivers for charger equipment, installation, labor, permitting and site preparation.

On the other hand, the rebate is not eligible to cover related electricity, ongoing maintenance, taxes, shipping or credit card fees.

Level 1 EV supply equipment (120V) is no longer eligible either.

To get the rebate, the EV charger must be safety certified and purchased new.

Additionally, installation by a Maryland-licensed electrician is required unless the project is self-installed by a resident with a valid license.

Those who wish to apply can do so electronically and by mail.

Why aren't people buying EVs?

As January, many EV makers reported slow demand. Rueters said there are a few valid reasons for a slow in demand:

1. High initial costs. Many automakers, like Tesla, Hyundai, and Ford have conducted “price slashes” on their flagship EVs to attract new buyers, though demand remains slow.
2. Higher insurance costs. Some insurance companies cite fire risks, high costs of battery replacement, and higher vehicle weight as reasons for higher premiums.
3. Charging anxiety. A large percentage of people remain fearful of being in a situation where they won’t be able to charge if they run out of battery due to a lack of infrastructure.
4. Range anxiety. In many instances, EVs still don’t have the range and infrastructure of gas-powered vehicles.
5. Poor performance in extreme temperatures. Reduced range in extremely hot or cold weather makes potential buyers wary.

Source: Reuters

Maryland residential applicants can request a secure email link to submit their application as well.

The completed application with required documentation has to be submitted and received within six months of the EV charger project completion.

The Maryland Energy Administration urges potential applicants to read the Funding Opportunity Announcement thoroughly before applying.

The application and instructions on how to complete it can be found on the FY25 EVSE Rebate Program website .

American residents looking to buy a new or used electric vehicle or fuel cell vehicle could qualify for a $7,500 tax rebate that pays out near-instantaneously.

The program was rolled out by the Internal Revenue Service and implemented new rules for this year.

The change was part of the 2022 Inflation Reduction Act , a Biden administration bill with the goal of modernizing the U.S. economy.

The difference between this rebate and a lot of others is that drivers who qualify may not have to wait for the tax season to receive it.