New eligibility requirements are being introduced for the California Clean Vehicle Rebate Project by the California Air Resources Board in order to improve the effectiveness of the project, according to a new press release.
The changes will increase incentive levels for low- and moderate-income consumers, while also putting high-income eligibility caps into place.
The changes — which will apply to vehicle purchases and leases made in California onwards from March 29, 2016 — were actually approved by the California Air Resources Board (ARB) all the way back in June 2015, following Senate Bill 1275.
The new press release provides more:
Since 2010, the CVRP has issued over $291 million in rebates for more than 137,200 vehicles, according to the Center for Sustainable Energy (CSE), which administers the ARB program. Rebates cover a range of battery electric, plug-in hybrid electric and fuel cell vehicles.
For low- and moderate-income consumers, CVRP rebates for all types of eligible light-duty passenger vehicles are being increased by $1,500. When combined with the $7,500 federal tax credit for battery electric and plug-in hybrid electric vehicles, the California rebates provide savings up to $11,500. To qualify for the increased rebates, applicants must have household incomes less than or equal to 300% of the federal poverty level. For an individual, the gross annual income limit is $35,640, and for a household of four, it is $72,900.
As mentioned above, high-income consumers will no longer have access to the rebates as an accompaniment to increased incentive levels for low-income consumers. High-income in this case refers to those whose “gross annual income exceeds $250,000 for single tax filers, $340,000 for head of household filers and $500,000 for joint filers.”
Income levels will be determined by federal tax return filing figures.
More information can be found here.
While the poor may not have enough income to take full advantage of tax credit to buy, the rebate makes for some crazy numbers for lease. For example, 3 year lease from Fremont Chevy on SparkEV is $80/mo + $1500 drive off = $4400 for 3 years. Minus $4000 is $400 for 3 years, or about $12/mo! That’s cheaper than couple of Macdonalds meals to drive entire month.
Even more, Dublin Chevy had $80/mo+$500=$3300 total for 3 years. With the rebate, poor will actually make $700 by driving EV! What new car do you find that you make money by leasing? The notion that EV is for rich people is dead thanks to SparkEV!