Rebates available for electric vehicle purchases starting this spring
If you’ve been thinking about purchasing an electric vehicle, now is a great time to do so!
From April 3rd through June 3rd, The Department of Environmental Quality will reopen the Oregon Clean Vehicle Rebate Program.
To qualify, residents have to buy or lease an electric vehicle during the two-month window. That means a car purchased on April 2 or June 4, for example, won’t qualify. Oregonians have six months from the date of purchase or lease to apply for a rebate.
In 2018, state officials offered the program and ended up suspending it in early May because there wasn’t enough money to meet the demand. Its total budget ended up being more than $18 million, which went towards nearly 3,500 rebates or rebate packages.
This year the department expects to have up to $8.5 million for rebates, according to Susan Mills, a spokeswoman for the Department of Environmental Quality. That money largely comes from 45% of the Vehicle Privilege Tax – 0.5% – that dealers have to pay on certain vehicles. Mills expects the department this year will be able to pay for 2,700 rebates for 2,500 households.
The program offers two types, ranging from $2,500 to $7,500:
- The state will pay a standard rebate of $2,500 for the purchase or lease of a new EV or plug-in hybrid EV with a base price under $50,000. A new zero-emission motorcycle will also qualify. This rebate is open to everyone.
- The state will pay up to $7,500 for the purchase or lease of a new EV or plug-in hybrid electric vehicle or $5,000 for the purchase or lease of a used EV or plug-in hybrid EV with a list price or original list price under $50,000.
The second program has income restrictions- You can’t earn more than 400% of the federal poverty level. That’s just over $60,000 a year for a single person and nearly $125,000 for a family of four.
To learn more about the program and track the availability of funds, please visit the department’s website. If the money runs out sooner than June 3, DEQ will shut the program down and applicants will be put on a waiting list and be paid when next year’s pot of money is allocated in early spring.
“Electric vehicles reduce air pollution and help improve air quality and public health,” Ali Mirzakhalili, state air quality administrator, said in the release. “We’ve seen fantastic success in EV adoption with the Oregon Clean Vehicle Rebate Program. It’s a great way to lower the costs when purchasing or leasing those vehicles, especially for low- and moderate-income households.”
Source: Oregon Capital Chronicle