California adds an additional $1,500 incentive towards buying electric cars and vehicles
With state and federal incentives electric car purchasers can save up to $13,500
The California Air Resources Board has refreshed its Clean Fuel Reward programme and now offers up to $1,500 off the purchase or lease of battery-electric cars and vehicles, as well as plug-in hybrid vehicles for residents of the Golden State. The scheme is funded by California’s Low Carbon Fuel Standard programme which is in place to reduce the carbon emissions in the state.
This new offer will replace California’s previous Clean Fuel Reward programme that was a collaboration between the California Air Resources Board and electric utility providers. These previous rewards will be withdrawn at the end of the year.
The new incentive will be based on battery size for any electric car or vehicle with a battery larger than 5 kWh qualifying for some of the incentives. A vehicle with a battery over 16 kWh will bag the full $1,500, which means that all-electric cars will get the full reward while plug-in hybrids will receive a percentage. The reward programme will also be extended to electric motorcycles.
This reward scheme ($1,5000) along with savings from the Clean Vehicle Rebate Project ($2,000), Federal Tax Credit ($7,500) and the low-income rebate ($2,500) means residents can save up to $13,500 by driving cleaner. Tesla and General Motors’ electric vehicles don’t qualify for all of these savings but still qualify for up to $6,000 for moving away from polluting cars. Some localities, such as Riverside and San Joaquin Valley, also offer added incentives.
There are also other incentives to help drivers make the change including electricity rate reductions, charger installation, eligibility to the carpool lane and extra financing incentives for those on lower-incomes. All of this is great news for drivers in California as well as helping to clean up the planet.