Lifting your profitability with electric forklifts and non-road electric vehicles

Non-road electric vehicles

There are many advantages to make the switch to electric vehicles. Electric options offer lower ownership and operating costs but require less service repair and maintenance than other fuel counterparts. They also provide healthier, safer, cleaner and quieter work environments since there are no carbon emissions. There is also no volatile on-site fuel storage necessary, creating an even safer workplace for your business or industry.

Standard incentives are open to all commercial and industrial participants subject to eligibility requirements and funding availability. Pre-approval IS required. Equipment must be new, with the exception for forklifts, which can be new or refurbished with a new battery. Equipment must be operated within the Tennessee Valley service territory. If the equipment you wish to purchase/lease is not displayed in this table, your project may qualify for a custom incentive. For more information, please reach out to your EnergyRight representative.

Electric forklifts

• Electric forklifts can lift as much as conventional models while being more maneuverable, making them ideally suited for narrower aisles and higher-density storage.
• Electric motors make them more responsive, with instantaneous lifting power as well as reduced tire-spinning, which means longer- lasting tires and fewer track marks on the floor.
• Electric forklifts can reduce fuel costs by up to 80 percent. A wide range of battery and charging options are available to accommodate one, two or three operating shifts.
• They also have 90 percent fewer moving parts than combustion-engine models, so maintenance is easier and repair costs are lower.
• Electric forklifts help maintain a cleaner, healthier environment, with zero site emissions, no soot from exhaust and no need to store combustible fuel on-site.
• They are also a lot quieter than combustion- engine forklifts, allowing operators to be more aware of what is happening around them.

Receive incentives for switching to an electric forklift

Purchasing forklifts?

TVA EnergyRight® Business & Industry offers programs and resources to help your company. The incentives are offered to help offset the cost of switching to electrical equipment. There’s a $2,000 incentive per forklift for the purchase of a new or refurbished electric powered Class 1 (counterbalance) or Class 2 (narrow aisle) forklift. Must be a fleet expansion or replacement of a Class 4 (cushion tire) or Class 5 (pneumatic tire) forklift. There’s a $500 incentive per forklift for a Class 3 (Electric Motor Hand or Hand-Rider Trucks) forklift.

Leasing forklifts?

A $1,000 incentive is available for the lease of a new or refurbished Class 1 or Class 2 electric forklift. Must be a fleet expansion or replacement of a Class 4 (cushion tire) or Class 5 (pneumatic tire) forklift. Incentives are not available when replacing electric forklifts. There’s a $250 incentive per forklift for the lease of a Class 3 (Electric Motor Hand or Hand-Rider Trucks) forklift.

Operational criteria

Applicant must purchase or lease a new or refurbished electric forklift and have it remain operational at the site for a minimum of the following to receive the incentive:

• Two years if operating at a three-shift per day operation
• Three years if operating at a two-shift per day operation
• Five years if operating at a one-shift per day operation

Download the PDF for even more information and additional resources.

Electric Forklifts and Non-Road Electric Vehicles PDF