A couple of weeks ago, we reported on an upcoming $2,000 rebate for New Yorkers purchasing an electric vehicle (EV). We are pleased to announce that on March 21, Governor Andrew Cuomo introduced the point-of-sale Drive Clean Rebate for eligible EVs, outlined in Figure 1. It is part of New York’s $70 million Drive Clean Initiative, which aims to encourage the uptake of EVs across the state.
The Drive Clean Rebate, courtesy of New York State Energy Research and Development Authority (NYSERDA), can be used towards the purchase or lease of a new electric vehicle (or plug-in hybrid). $55 million will be available in rebates, with another $15 million set aside for outreach programs.
To receive the full $2,000 Drive Clean Rebate, an EV must have an all-electric range of over 120 miles and a manufacturer’s suggested retail price (MSRP) of $60,000 or less (FIgure1). Combined with the current $7,500 Federal Tax Credit, it has never been a better time for New Yorkers to ditch their gasoline powered cars and go electric.
“Reducing vehicle emissions is a critical part of this administration’s efforts to fight climate change and reduce New York’s carbon footprint,” Governor Cuomo said. “These highly-anticipated rebates will make electric vehicles more affordable and accessible and support this state’s nation-leading efforts to build a cleaner, greener New York for generations to come.”
Of the 30 plus vehicles eligible for the Drive Clean Rebate, only the 2017 Chevrolet Bolt EV qualifies for the full $2,000 (Figure 2). With a range of 238 miles and a base MSRP of $36,620, the Chevy Bolt could potentially cost you only a touch over $26,000, after incentives. Several other EVs are eligible for a $1,700 Drive Clean Rebate, including the 2017 BMW i3, Ford Focus Electric, Kia Soul EV and Nissan LEAF.
Due to pricing, the Tesla Model S and Model X only qualify for a $500 Drive Clean Rebate. However, they are eligible for the full $7,500 Federal Tax Credit. With a base price of $35,000, Tesla’s upcoming Model 3 will be eligible for the full $2,000 Drive Clean Rebate and the $7,500 Federal Tax Credit, if they are still available.
We know that New York State’s transportation sector is responsible for almost 40% of its greenhouse gas emissions. Some think that simply switching from gasoline and diesel powered cars to electric will solve everything. The problem is, the batteries in EVs need charging. A lot of this electricity comes from the grid, which may be generated using dirty energy sources, such as coal.
Fortunately, more and more of New York’s electricity is being derived from renewable energy sources, such as hydroelectric and wind. As polluting cars are replaced with EVs, spurred along by initiatives such as the Drive Clean Rebate, New York moves closer to realising its long-term goal of reducing statewide greenhouse gas emissions by 40%*, come 2030.
* compared to 1990 levels
Source/s: Governor of New York, NYSERDA.