State and federal leaders are offering incentives to encourage people to switch to electric vehicles as more people opt for greener transportation. Rhode Island’s Drive EV program gives rebates up to $2,500 for battery or fuel-cell EVs, $1,500 for new plug-in hybrid EVs, and $1,500 for used EVs. New EVs have a price cap of $60,000, while used electric vehicles have a cap of $40,000 to qualify for the rebate. The state has awarded $764,750 in total since July 2022. Furthermore, DRIVE EV FLEET offers rebates up to $2,500 for new EVs and $1,500 for used EVs to qualified small businesses, nonprofits, and public sector entities. The IRS provides tax credits for new plug-in electric vehicles or fuel cell vehicles, with qualifications such as having a 7-kilowatt-hour battery capacity and North American final assembly. Interested drivers can apply for the rebate program online or via mail, and qualified applicants have 120 days from the purchase or lease date to apply. Rebate checks take four to six weeks to receive.

Leave a Reply

Your email address will not be published. Required fields are marked *