The BC Government is releasing the rest of the money for electric vehicle rebates.
Another $26.5 million is being released for the clean energy vehicle rebate. The government says its also making changes to the program so it can meet ongoing demand. Those changes include reducing the amount of the rebate.
“With federal and provincial rebates now in place, switching to an electric vehicle is more affordable than ever,” said Michelle Mungall, Minister of Energy, Mines and Petroleum Resources. “Part of our CleanBC plan, the CEVforBC program has been a resounding success. The changes we are making today will ensure it remains accessible and supports even more British Columbians in getting their first clean energy vehicle.”
This year’s budget committed $42.5 million toward CEVforBC rebates, with the first $15 million having already been released. The changes made include lowering the maximum price eligibility threshold to $55,000 – to help the program support the most affordable vehicles.
A federal program, which kicked in on May 1st, gives rebates of $5,000 in addition to any other provincial rebates in the market. The BC Government says that has led to unprecedented CEV sales across the province.
The provincial rebate has been reduced to $3,000 for battery, fuel-cell, and longer-range plug-in hybrid electric vehicles and to $1,500 for shorter-range plug-in hybrid electric vehicles. Vehicles purchased or reserved prior to that date will be covered by the prior program incentives and rules.