B.C. drivers can now cash in on a pair of hefty incentives that make owning an electric or fuel-cell vehicle a lot more affordable.
The B.C. government announced a $40-million boost to the Clean Energy Vehicle Program on Friday that will provide an incentive up to $6,000 for someone purchasing a zero-emission vehicle.
The incentives vary depending on vehicle type:
- $6,000 for the purchase or lease of a hydrogen fuel-cell vehicle
- $5,000 for the purchase or lease of a new battery electric vehicle
- $2,500 – $5,000 for the purchase or lease of a plug-in hybrid electric vehicle
But any vehicle with a suggested retail price over $77,000 is not eligible for the program.
Those savings, combined with further incentives from the B.C. SCRAP-IT Program, can bring prices down by up to $12,000.
Many electric vehicles range in price from around $30,000 to almost $100,000 for a car like the Tesla Model S.
The SCRAP-IT Program gives $6,000 toward the purchase or lease of a new electric vehicle or $3,000 for the purchase or lease of a used electric vehicle, but only if you scrap your old car.
“Transportation accounts for nearly half of the emissions by the average B.C. family, and light-duty vehicles account for 14 per cent of B.C.’s overall emissions,” Minister of Environment Mary Polak said in a release. “With 98 per cent of our electricity in B.C coming from clean or renewable sources, encouraging people to buy or lease a zero-emission vehicle is one of the best ways we can reduce greenhouse gas emissions and ensure British Columbia remains a climate action leader.”
The incentives will only be available until March 2018 or as long as the funds last.
The province has committed over $70 million in vehicle incentives through the Clean Energy program since 2011.