The costs of electric vehicles, or EV’s, is coming down as batteries are becoming more powerful and less expensive. The technological innovation in batteries as well as the offerings of new consumer buying groups are making electric vehicles more affordable. In addition, federal tax credits of up to $7,500 are available for purchases of select models of electric vehicles. (A tax credit is a dollar-for-dollar offset against your tax liability and therefore more valuable than a tax deduction.) Many states also offer tax credits to motivate purchases of electric vehicles to reduce carbon emissions. In some areas that impose automobile excise taxes, such taxes are waived for electric vehicles, as well as the sales tax on the purchase. It is well worth the effort to investigate incentives to purchase or lease an electric vehicle for your business or household.