New program also expands number of charging stations statewide
New Yorkers looking to buy a new car now have a big reason to go electric. The Rebate Electric Vehicle program (REV) will provide up to $2,000 off the sticker price for state residents who buy an electric car from participating dealerships.
Lieutenant Governor Kathy Hochul joined environmental advocates and members of the auto industry to announce the $55 million rebate program designed to incentivize New Yorkers into buying electric cars. Another $15 million will be used to install new charging stations statewide, and to continue to educate citizens on the benefit of buying electric cars.
Hochul and Gov. Andrew Cuomo hope the program will assist in New York’s goal to reduce greenhouse gas emissions 40 percent by 2030.
“The transportation sector is the largest contributor to greenhouse gas emissions and electric cars are helping to reverse this trend,” Hochul said. “Governor Cuomo’s drive clean rebate will provide consumers with vehicle options that are both economically and environmentally conscious.”
Consumers can earn up to $2,000 from the state rebate depending on the car’s driving battery range. The longer the vehicle can drive on electric power, the more money the buyer will receive. Coupled with a federal tax credit for electric vehicles, consumers can lower the price of their new cars by nearly $9,500, according to the U.S Department of Energy.
Auto dealers are on board, as they will be facilitating the rebates through their dealerships in the coming years. Robert Vancavage, president of the New York State Automobile Dealers Association, “commends Governor Cuomo for allowing a rebate for electric vehicles for the benefit of clean air and the environment for all New Yorkers.”
Electric vehicles produce significantly less carbon emissions than gasoline powered cars, and according to the New York State Energy Research and Development Authority, carbon emission savings from cars receiving these rebates will be the equivalent of taking 24,000 cars off the road.
The rebate plan is all about looking toward the future, according to Cuomo. “These highly anticipated rebates will make electric vehicles more affordable and accessible,” Cuomo said, “and support this state’s nation-leading efforts to build a cleaner, greener, New York for generations to come.”