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California EV rebate demand exceeds CVRP funding; rebates have gone to nearly 65% of all California EV owners

California EV rebate demand exceeds CVRP funding; rebates have gone to nearly 65% of all California EV owners In response to strong demand for electric vehicles, the California Air Resources Board (CARB) expects rebate funds for the statewide Clean Vehicle Rebate Project (CVRP) to be exhausted within 30 days. Electric vehicles (EVs) account for nearly 8% of all light-duty vehicles sold in California. More than 145,000 EVs were sold in California in 2020 with a majority of sales taking place in the latter half of the year. Through the first quarter of 2021, CVRP rebate applications have already exceeded levels seen in early 2020, with substantially higher participation by low- and moderate-income consumers.

California ARB directs additional clean vehicle rebates to lower-income families

California ARB directs additional clean vehicle rebates to lower-income families The California Air Resources Board (CARB) is making additional clean vehicle rebates available for lower-income consumers. A cornerstone of CARB’s suite of EV-purchase incentives, the Clean Vehicle Rebate Project (CVRP) is the nation’s largest and longest-running EV incentive program. CVRP offers standard rebates of $1,000 to $4,500 for the purchase or lease of a new eligible plug-in hybrid or zero-emission vehicle. An additional $2,500 rebate is available to low- and moderate-income households at or below 400% of the federal poverty level. CVRP set aside $25 million for the $2,500 increased rebates for low- and moderate-income households for Fiscal Year 2019-20. That allocation was exhausted on 5 February 2021. To continue support for new EV purchases and leases by low- and moderate-income car shoppers, CARB is dedicating an additional $25 million, or half of the remaining CVRP funds, to ensure

Californians Have a New Incentive for Going Electric on Their Next Vehicle: Up to $1,500 Off the Price

Press release content from Business Wire. The AP news staff was not involved in its creation. Californians Have a New Incentive for Going Electric on Their Next Vehicle: Up to $1,500 Off the Price February 9, 2021 GMT SAN FRANCISCO (BUSINESS WIRE) Feb 9, 2021 Planning to shop for a new vehicle during the Presidents’ Day weekend? California has a new incentive for going electric. Pacific Gas and Electric Company (PG&E) and other electric utilities have teamed up with the California Air Resources Board (CARB) to offer the California Clean Fuel Reward, a point-of-sale price reduction of up to $1,500 off the purchase or lease of any eligible, new electric vehicle (EV). Consumers can receive this instant price reduction at any participating automotive retailer.

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