Some of the best car deals happen during Labor Day weekend.
If you are in the market to buy or lease an electric vehicle (EV), don’t forget there are significant federal, state and local incentives that are available to help you offset the purchase price.
State and Federal Incentives for Buying EVs
To put EVs within the reach of everyday Californians, the state Air Resources Board, through its Clean Vehicle Rebate Project (CVRP), provides rebates ranging from $1,500 to $4,500 for fully electric and plug-in hybrid passenger cars. The amount of the rebate varies depending on the vehicle make and model and the applicant’s household income. The standard rebates are $1,500 for a plug-in hybrid and $2,500 for an all-electric car, such as the BMW i3, BMW i3s or the Nissan LEAF. Those who meet certain income criteria are eligible for enhanced EV rebates of up to $4,500.
Under a newly launched pilot program, called Rebate Now, EV shoppers may apply for a pre-approved rebate upfront to lower the down payment for a new ride.
At the federal level, a tax credit of up to $7,500 is available for those who buy an EV. The amount of the credit varies based on the battery capacity and personal tax situations.
Champions for Clean Air Offers $1,000 Rebate
Through SDG&E’s Champions for Clean Air program partnership with Plug in America, local teachers and first responders, including firefighters, police officers, Sheriff’s deputies and emergency medical technicians, are eligible to receive a $1,000 point-of-sale rebate toward the purchase or lease of an all-electric or plug-in hybrid vehicle. Learn more about the application process here.
Electric Rates Help EV Drivers Save
SDG&E customers who drive EVs can save money by signing up for an electric vehicle time-of-use rate and program their car to charge during the cheapest times of day.