Since 2017, New York State has provided 106,282 electric car incentives totaling $115.6 million in order to lower greenhouse gas emissions.
In 2017, the New York State Energy Research and Development Authority established the point-of-sale drive clean rebate, which is accessible to New York State citizens, corporations, and government agencies purchasing or leasing new qualified vehicles from participating new auto dealerships.
According to state information, there are 97,000 battery-electric vehicles as well as 66,000 hybrids registered in the state.
Rebate Program Offers $500
The program offers a $500 flat rebate for cars having a base manufacturer’s recommended retail price of more than $42,000.
Almost half of the total subsidies, 51,382, were used to acquire luxury vehicles, including 47,465 Teslas, 3,021 BMWs, 574 Audis, 151 Mercedes-Benzs, 118 Porsches, along with 53 Jaguars.
The scheme also financed 20,293 Toyotas and 6,539 Chevrolets.
The program criteria allow for vehicle purchase or lease as long as the vehicle is held for 36 months.
The Drive Clean Rebate is subject to New York State sales tax. The rebate you receive for automobiles with a base MSRP of $42,000 or less is determined by the vehicle’s battery-only range.
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Due Tax Incentives EV Registration Climbed
Hochul aimed for 850,000 zero-emission vehicles by 2025, as well as zero-emission passenger vehicles for all new vehicles by 2035.
To meet the first objective, the state needs to register 376,500 electric vehicles (EVs) in 2024 and 2025, or 31,375 EVs per month.
In 2010, hardly no EVs were registered in New York State. EV registrations climbed in 2017 and have increased nearly every year thereafter, thanks in part to the incentive scheme.
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