The fact that the state burns through the funds so quickly tells the growing popularity of electrical and electronic components and plug-in hybrids. The number of EVs registered in Maryland apparently doubled from 2017 to 2018, reaching more than 18,000 in February. Maryland aims to register 300,000 EV in 2025, doubling the funding of 201[ads1]9 EV tax credits. But a backlog of applicants from the previous financial year meant that all the money in 2019 was counted before 1 July. Unless the state can come up with more funding, it is likely that a similar scenario will play out next year as well.
EV owners are still eligible for federal tax credits, but there is also no guarantee. The Trump administration has played a part in separating incentives (up to $ 7,500 on the purchase of the new EV) from the 2020 budget. As EV sales continue to increase and tax credit funds dry up, states may need to be creative and look for incentives such as fast charging and low power levels.