The Electric Vehicle Tax Credit & Georgia
Impact of Elimination of the Electric Vehicle Tax Credit on the Georgia State Economy, commissioned by Securing America’s Future Energy (SAFE) in partnership with the Electrification Coalition, and prepared by Keybridge Research LLC, examines the economic effects of a possible elimination of the electric vehicle tax credit on the Georgia state economy.
Georgia currently offers a $5,000 tax credit to support the purchase of electric vehicles (EVs). The credit has played a significant role in boosting Georgia’s EV penetration rate to one of the highest rates in the country—1.9 percent of all light-duty vehicle sales in 2014. This study finds that the cumulative 5-year loss of state GDP in Georgia would be $107 million and the cumulative 16-year loss of state GDP would be $252 million, assuming that people who do not purchase EVs instead purchase conventional vehicles.