State Expands Electric Vehicle Rebate ProgramMarch 14, 2012, 12:01 PM HST · Updated March 14, 12:03 PM 0 Comments
By Sonia Isotov
The State of Hawaii has added another $350,000 to the electric vehicle (EV) Ready Rebate Program and pushed the deadline for participation back to November.
With the increase in demand for electrical vehicles, the state of Hawai’i is re-charging its EV Ready Rebate Program with an additional $350,000 for rebates on new electric or plug-in hybrid electric vehicles and chargers. The state has also extended the deadline for the rebates from March 31 to Nov. 1, 2012.
“Expanding the EV Ready Rebate Program not only helps consumers today, it provides a long-term solution as we work towards reaching energy independence,” said Mark Glick, the energy program administrator for the Department of Business, Economic Development & Tourism’s State Energy Office in a written statement.
“The widespread adoption of EVs is critical if we are to reach the Hawai’i Clean Energy Initiative goal of displacing 385 million gallons of oil for ground transportation fuel by 2030. With the cost of gas persisting above $4 per gallon, these vehicles offer a cost-effective, long-term solution.”
Since March 2011, a total of 618 rebates have been approved for 372 electric vehicles and 246 chargers, leaving the state rebate program with about $37,000. The new funding will increase the available total to $387,000.
Through the Hawai’i Electric Vehicle (EV) Ready Program, state residents can apply for rebates of up to $4,500 on purchases of electric vehicles and up to $500 for electric vehicles chargers. In addition to the state EV rebates, federal tax incentives of up to $7,500 (the Qualified Plug-in Electric Drive Motor Vehicle credit) are also available for highway-capable vehicles. This provides for the potential of up to $12,500 in rebates and tax credits for each electric car buyer.
The state rebates are available on a first-come, first-served basis and will run through the Nov. 1 deadline or while funds last, whichever comes first. Rebate forms can be obtained from DBEDT’s State Energy Office Web site at www.energy.hawaii.gov.