The 2023 Subaru Solterra already offers significant savings thanks to its all-electric motor, but does the vehicle qualify for an EV tax rebate?
The 2023 Subaru Solterra is a compelling EV equipped with state-of-the-art technologies, but is it eligible for a tax rebate? Automakers with electric vehicles in their current lineup are using the promise of tax incentives to attract prospective buyers. As the EV market continues to grow in North America and beyond, it’s expected that certain concerns will arise. An automaker like Tesla is known for its hefty price tags, with the Model X starting at over $100,000. Incentives like tax credits enable buyers to purchase their preferred EV with additional savings.
Before purchasing an EV, buyers consider several factors ranging from driving range to top speed and acceleration. With gas prices at an all-time high, more consumers may switch to vehicles powered by batteries. This is in line with the vision of several countries striving to make mobility an all-electric affair in a few years. However, EVs aren’t cheap, which is why governments across the world are introducing tax rebates to encourage people to make more purchases. The U.S. government recently announced plans to make EV charging more affordable and accessible, a move that should be regarded as a welcome development.
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Vehicles in the all-electric and plug-in hybrid categories bought after 2010 are eligible to receive the tax rebate. This includes EVs from brands like Audi, Volkswagen, Mercedes-Benz, and so on. The 2023 Subaru Solterra comes with a Federal Tax Credit of up to $7,500 and additional incentives that drivers can claim provided that they reside in the eligible locations. This is the standard quota for EVs, though Tesla models purchased after the end of 2019 don’t qualify for tax rebates. General Motors models bought after the end of 2020 aren’t eligible for tax credits either. While drivers can enjoy tax credits of up to $7,500, Fuel Economy claims that the EV’s battery capacity will determine the actual amount that a buyer is eligible to receive. However, buyers should consult with a trusted tax professional for an expert opinion before making a purchase.
Other Benefits Of Buying The Subaru Solterra
Aside from the potential tax credit, buyers also get benefits like zero tailpipe emissions, fuel and time savings, maintenance savings, and HOV lane access. Since there are no tailpipe emissions, buyers of the Subaru Solterra get to contribute to environmental sustainability. Plus, the advantage of using an electric motor means drivers will save money on oil/gasoline changes. A full charge of the Solterra should cost drivers between $9 to $10 depending on the current U.S. average utility charging rate provided by the Department of Energy.
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Subaru believes that the Solterra EV is more efficient than a gasoline-powered vehicle because it’s easier to maintain. Drivers will save time that would have been spent waiting for oil changes and other traditional maintenance efforts. However, drivers should not neglect to maintain vital vehicle parts like wiper blades and brake pads. Failing to keep those parts in top shape will cause the Subaru Solterra to wear out faster and require more frequent servicing.
