California increases EV rebate by $500 for lower-income buyers, makes earners over $150k ineligible
California’s Center for Sustainable Energy announced another modification to their Clean Vehicle Rebate Project (CVRP) today, raising the credit by an additional $500 for low-to-mid-income earners (below 300% federal poverty line) and lowering the eligibility cap to $150k for individuals and $300k for joint filers. This raises California’s rebate to $4,500 for battery electric vehicles, $3,500 for plug-in hybrids and $7,000 for fuel cell vehicles for buyers in the lower-income category.
The standard rebate for buyers who do not fit either of the above categories remains at $2,500 BEV/$1,500 PHEV/$5,000 FCV. The new income limits apply to vehicles purchased after November 1st, 2016, and the rebate is applicable to any new electric vehicle purchase, or a lease with at least a 30-month term.