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Washington motorists will gain access this summer to new state rebates – up to $9,000 in some cases – to help cover the cost of leasing or purchasing electric vehicles.
Gov. Jay Inslee and state Department of Commerce Director Mike Fong provided details Tuesday about the program, which will be available at auto dealerships beginning in August. Swapping gasoline-powered vehicles for electric ones is a key priority with the state’s Democratic-led efforts to transition away from fossil fuels and slow climate change.
While the number of EVs in the state has nearly doubled over the past two years, many are fancier models and the cars tend to be heavily concentrated in the Seattle area. Inslee said the new program is meant to help “democratize” the emerging automotive technology.
Single Washington residents earning up to $45,180 annually or a family of four with income up to $93,600, will be eligible for a rebate of up to $9,000 for a new electric vehicle lease of three years or more. They’d also qualify for up to $5,000 for a new EV purchase or two-year lease. Used electric vehicles are eligible for a $2,500 rebate on purchases and leases.
“What we’re trying to do is to make these vehicles accessible to as many people as humanly possible,” Inslee said. “You can wake up every morning and say, ‘I’m not gonna have to buy a gallon of gasoline,’ that makes people really, really happy.”
Fong described the program as a “first-in-the-nation model.” His agency said in a press release that the state rebates, combined with federal and automaker incentives, could make monthly lease payments on at least four EV models less than $100 for qualifying consumers.
In March, there were about 181,400 electric vehicles registered in Washington, including plug-in hybrids, according to Department of Licensing data. That’s up from around 94,000 in March 2022. Despite the growth, EVs remain a small share of the roughly 8 million vehicles registered in Washington.
State figures also show just over half of the EVs registered are in King County and around 40% are Teslas. Tesla prices its least expensive car, the Model 3, at about $39,000.
EV prices have been coming down. But estimates updated in January from Cox Automotive and Kelley Blue Book still pegged the average cost for a new electric vehicle at around $55,353, whereas the overall average price for new cars at that time was around $47,401.
Local listings in western Washington show new Chevy Bolts available for around $27,000 or to lease for $400 to $500 a month. Nissan Leafs sell in the $30,000 price range. The starting price for a new, gasoline-powered Toyota Carolla is around $22,000.
The federal government already provides tax credits up to $7,500 for electric and plug-in hybrid vehicles. But these incentives are only available for vehicles that meet certain requirements for where they were built and where the materials in their batteries came from. There are also income eligibility guidelines with the federal program.
Funding for the Washington initiative is from the state’s general fund. It is not coming out of revenue from carbon auctions under the Climate Commitment Act.
Commerce announced about $85 million of spending in February for nearly 5,000 new electric vehicle charging stations. Gaps between charging sites remain a concern for EV drivers, especially in more rural and outlying areas. Some EV owners have also struggled with their vehicles in colder weather, which can sap batteries.
by Bill Lucia, Washington State Standard
Washington State Standard is part of States Newsroom, a nonprofit news network supported by grants and a coalition of donors as a 501c(3) public charity. Washington State Standard maintains editorial independence. Contact Editor Bill Lucia for questions: info@washingtonstatestandard.com. Follow Washington State Standard on Facebook and Twitter.
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Article
Washington state is introducing new rebates for electric vehicles this summer, with some drivers eligible for up to $9,000 towards leasing or purchasing an electric car. The program is part of the state’s efforts to transition away from fossil fuels and combat climate change, with Governor Jay Inslee stating that the goal is to make electric vehicles more accessible to a wider range of residents. The rebates will be available to single individuals earning up to $45,180 annually or families of four with income up to $93,600. Used electric vehicles are also eligible for rebates, with a $2,500 incentive for purchases and leases.
The state rebates, in combination with federal and automaker incentives, could result in monthly lease payments of at least four electric vehicle models dropping to less than $100 for qualifying consumers. Despite the growth in electric vehicle registrations in Washington, they still make up a small share of the overall vehicle market, with over half of EVs registered in King County and around 40% being Teslas. While EV prices have been decreasing, the average cost for a new electric vehicle is still higher than the average price for new cars overall. However, local listings show options like the Chevy Bolt and Nissan Leaf available at more affordable price points.
In addition to the rebates, the federal government already offers tax credits up to $7,500 for electric and plug-in hybrid vehicles, with specific requirements and income eligibility guidelines. The Washington initiative is funded through the state’s general fund, not revenue from carbon auctions. The state is also investing in new electric vehicle charging stations, with concerns about gaps in charging infrastructure, especially in rural areas. Some EV owners have reported challenges with their vehicles in colder weather, which can impact battery performance.
The push for electric vehicles aligns with Washington’s Democratic-led efforts to reduce reliance on fossil fuels and mitigate climate change. Governor Inslee emphasized the importance of transitioning to electric vehicles to reduce gasoline consumption and lower carbon emissions. By making electric vehicles more affordable and accessible through rebates and incentives, the state aims to promote widespread adoption of EVs among residents. The combination of state, federal, and automaker incentives could significantly reduce the cost of owning or leasing an electric vehicle for many Washington residents.
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