Where we’re going, we don’t need roads... or at least gasoline-powered vehicles.
The electric vehicle market in the US is expected to show an annual growth rate of 18.17% from 2024-2028. If you’re thinking about hopping onboard the EV express, here’s a quick breakdown of the status of driving electric in the Circle City.
What’s the Indy EV scene like?
If you swear you’re seeing more Teslas on the streets, you’re not wrong. There were 17,700 battery-only EV registrations in Indiana in 2022. This number represents only 0.3% of all vehicles in the state, but is a staggering 58% increase from 2021’s registration numbers.
Meanwhile, the Indiana Department of Transportation’s Charging the Crossroads program plans to invest nearly $100 million to build an EV charging network at strategic locations along Indiana’s interstates and highways. When applications for the program closed this past November, 86 potential EV charging sites had been identified as candidates. INDOT plans to make its final selections by early 2024 and begin installation in 2025.
How do I charge an EV?
Believe it or not, you can charge your car with a regular old 120-volt outlet — it just might take a full day.
To fill up in a few hours, many EV owners install a Level 2 charger — which is 240 volts — but the charger and installation could cost hundreds. That said, many companies like AES Indiana and Duke Energy offer rebates for installation at both homes and businesses, along with cash incentives for residential customers who charge their EV during off-peak hours. Duke Energy even offers a charger rental program for those who may be looking for a cheaper short-term solution.
The city is also stocked with public charging stations. As of Dec. 12, 2023, there are 684 charging stations in the Indianapolis area, 109 of which are free to use. If you need a quick and powerful juice-up, you can get it by using a DC Fast Charger; there are 194 in the area, 123 of which are Tesla Superchargers.
What other rebates should I know about?
EVs can be pricey, but tax credits can offset the cost. The federal government offers as much as $7,500 for an EV purchase, depending on household income and the car’s battery size.
You’ll also experience savings on monthly fuel costs; you can determine an estimate with this calculator.
There’s a lot more to know about EVs. If you’re in the market, take a look at Greater Indiana’s buyers guide.