Business & Industry > Incentives > Electric Forklifts

Electric forklift incentive offering

Still operating with an internal combustion forklift? It pays to go electric. Electric forklifts have lower operating costs, lower emissions and require less maintenance. Plus, you could receive up to a $2,000 incentive when you make the switch to an electric model.

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Lifting your profitability with electric forklifts.

There are many advantages to making the switch to electric forklifts. Electric options offer lower ownership and operating costs and 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.


  • 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%. A wide range of battery and charging options are available to accommodate one, two or three operating shifts.
  • They also have 90% 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.

There’s no time like right now.

Ready to make your workplace safer and improve the comfort and air quality in your commercial or industrial setting? All of our incentives are subject to approval by TVA and your LPC and are contingent upon available funding. And we have great news: Funding is still available for 2022.

Available incentives for electric fleet expansions and fuel conversion forklift projects.

TVA EnergyRight for Business & Industry offers programs and resources to help your company. The incentives are offered to help offset the cost of switching to electrical equipment. Keep in mind incentives are for an electric fleet expansion or a replacement of a Class 4 (cushion tire) or Class 5 (pneumatic tire) forklift.

Incentives are not available for Class 3 or when replacing electric forklifts. Standard incentives are open to all commercial and industrial participants subject to eligibility requirements and funding availability. All standard project submissions must go through a trained PPN member to receive an incentive and pre-approval IS required. Equipment can be new or refurbished with a new battery.  

Purchasing electric forklifts
A $2,000 incentive is available for the purchase of a new or refurbished Class 1 (counterbalance) or Class 2 (narrow aisle) electric forklift instead of a Class 4 or Class 5 internal combustion forklift.

Leasing electric forklifts
A $1,000 incentive is available for the lease of a new or refurbished Class 1 or Class 2 electric forklift instead of a Class 4 (cushion tire) or Class 5 (pneumatic tire) forklift.

Let’s get started.

Get the information you need before you make the switch. It’s easy to get started. All you need to do is select a Preferred Partners Network (PPN) contractor or Request Expert Solutions from multiple PPN contractors.

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Request Expert Solutions

Submit a project request and multiple contractors in our Preferred Partners Network will respond with solutions based on your needs.

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Find a Contractor

Ready to get started? Find an energy pro in your area. All members of the Preferred Partners Network (PPN) are TVA-vetted.

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Everything you need to know about incentives for your business.

View our step-by-step guide to applying for business incentives.

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