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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Electric Forklift Incentive

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 go towards purchasing or leasing Class 1 (counterbalance) or Class 2 (narrow aisle) forklifts for an electric fleet expansion or a replacement of Class 4 (cushion tire) or Class 5 (pneumatic tire) forklifts.


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. Pre-approval IS required and equipment can be new or refurbished with a new battery.

  • A $2,000 incentive is available for the purchase of a new or refurbished Class 1 or Class 2 electric forklift instead of a Class 4 or Class 5 internal combustion forklift.

  • This incentive is accessible through the Preferred Partners Network (PPN) only.

  • 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 or Class 5 forklift.

graphic displaying incentives funding left available, 45% is still available as of 6/20/23

Funding is still available this year

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 this year.

Benefits of 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.


Let’s get started.

Click below to begin your application for this incentive. Our team is ready to answer any questions you might have.


Please contact our energy advisors at (866) 233-0450 or email .

Apply through the Preferred Partners Network (PPN)

In order to apply for this incentive, you must work with a Preferred Partners Network member. All you need to do is Request Expert Solutions or Find a Contractor.

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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 a trusted expert in your area. All members of the Preferred Partners Network (PPN) are TVA-vetted.

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