Rebate amounts increased for electric vehicles
The B.C. government has increased the maximum rebate amounts for electric vehicle purchases.
The maximum provincial rebate under the CleanBC Go Electric Passenger Vehicle Rebate Program on the purchase or lease of a battery-electric vehicle (BEV), fuel-cell electric vehicle (FCEV) and long-range plug-in hybrid electric vehicle (PHEV) was last month increased from $3,000 to $4,000. The maximum rebate for lower-range PHEVs is increased from $1,500 to $2,000.
“More and more people in British Columbia want to get an electric vehicle to save money on gas and reduce their carbon footprint,” said Bruce Ralston, Minister of Energy, Mines and Low Carbon Innovation. “We’re improving our rebate program to make EVs more affordable and accessible for more families.”
To ensure that EV rebates are available for people and families who need them most, eligibility for a rebate will be based on individual or household income levels:
* Individuals with annual incomes as much as $80,000 (household incomes as much as $125,000) will be eligible for the maximum rebate amounts of $2,000 for lower-range PHEVs or $4,000 for BEVs, FCEVs and PHEVs.
* Individuals with annual incomes between $80,001 and $100,000 (household incomes between $125,001 and $165,000) will be eligible for rebates ranging from $500 to $2,000, depending on income level and the type of vehicle selected.
* Individuals with annual incomes more than $100,000 (household income more than $165,000) will not be eligible for provincial EV rebates.
Based on 2020 income tax returns, more than 90% of British Columbians are eligible for the provincial electric vehicle rebate. When combined with federal rebates, British Columbians can save as much as $9,000 on the purchase or lease of a new EV.
The province has also expanded the types of electric vehicles eligible for rebates.
The price cap to determine eligibility for vehicle rebates remains at a maximum of $55,000 for compact and full-size cars. However, to support families and businesses requiring larger EVs, a second category has been added. For larger EVs that will be coming to market, including minivans, sport utility vehicles and pickup trucks, the cap has been set at a maximum retail price of $70,000.
This year, B.C. made electric vehicles exempt from provincial sales tax, making the purchase of an EV more affordable and providing more options.
People who normally drive approximately 15,000 kilometres per year can save approximately $2,000 in fuel costs per year by making the switch to an EV, the government estimated.
British Columbia has seen substantial growth in EV uptake, from 5,000 light-duty EVs registered in B.C. in 2016 to more than 85,000 today.
In the first quarter of 2022, EVs made up 17% of new light-duty passenger vehicles sold in B.C., which is the highest electric vehicle adoption rate in North America.
In 2021, 18,533 EV rebates were issued.