California may be the nationwide leader in offering incentives for electric-car purchases, but Oregon is hot on its heels. The Beaver State will soon be giving hefty rebates for EV purchases. The money-back program is part of a huge $5.3 billion transportation funding package that was passed earlier this month by the Oregon Senate and House.
Cost Savings Rule
According to Green Car Reports, the rebate program will get about $12 million a year for six successive years, and will only apply to vehicles whose base price is under $50,000. Cars with batteries of up to 10 kilowatt-hours (most all plug-in hybrids on the market today except the Chevrolet Volt) will snag a $1,500 rebate. Those with heftier batteries will get the full $2,500.
Beyond that suite of rebates, an additional fund is zeroing in on giving an additional $2,500 to incentivize low- and moderate-income drivers who replace an old car (at least 20 years old) with a new or pre-owned electric car. The new rebate can be combined with the standard purchase rebate to give up to $5,000 off the cost of that new or used electric vehicle, meaning a pre-owned Nissan Leaf might now be $5,000 less for qualifying drivers.
The transportation funding package phases in added-on fees for registering and titling electric cars, though these don’t take effect until 2020, when more plug-in vehicles will be seen in the state. Those fees are expected to total approximately $110 a year.
Electric-car enthusiasts aren’t the only ones who will benefit from the program. The new funding package also includes $100 million a year for mass transit. Oregon is known for its stellar mass-transit systems and innovative transportation strategies.
Oregon Governor Kate Brown, a long-time electric vehicle supporter, is expected to sign the transportation-funding bill soon.