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Around 3,300 Washington residents have snapped up state-funded rebates to lease or purchase electric vehicles since the subsidies became available about two months ago.
Funding for the program, which launched on Aug. 1, is expected to run out in October if people continue tapping the rebates at the current pace, according to Steven Hershkowitz, the state Department of Commerce’s clean transportation program managing director.
Commerce said that, as of Sept. 24, the program had doled out 3,351 rebates, with about two-thirds – or 2,145 – going to defray the cost of auto leases. The average rebate amount was $7,292. The department expects to issue about 6,000 rebates in total.
Those eligible can get up to a $9,000 rebate on an electric vehicle lease or $5,000 on a new, qualifying electric vehicle purchase. The rebates are applied as a discount by 308 participating auto dealers when a person buys or leases a vehicle.
For used electric vehicles, $2,500 rebates are available.
To be eligible for the program, people must meet certain income requirements. Maximum household income for an individual can’t exceed $45,180 and it can’t be more than $93,600 for a family of four. People enrolled in certain public assistance programs are also automatically eligible.
Total funding for the program is nearly $45 million, of which about $17.5 million was remaining as of Friday. The state rebates are separate from and in addition to federal incentives that are available for the purchase of certain electric vehicle models.
Commerce previously estimated that funding for the state rebates could last until next spring. But the agency said the program is more popular than anticipated – the $9,000 rebate for leases of three years or more in particular.
“Drivers wanting to take advantage of the program should act within the next month before funds run out,” Department of Commerce Director Mike Fong said in a statement.