The provincial government has released an additional $26.5 million in funding and announced several changes to its electric vehicle rebate program (CEVforBC).
The two most notable changes include lowering the price eligibility threshold and reducing the provincial rebate that was offered for joining the program.
The adjustments, according to the BC government, are to help the popular program “meet ongoing demand.”
“The changes we are making ensure it remains accessible and supports even more British Columbians,” says Michelle Mungall, Minister of Energy, Mines, and Petroleum Resources in a news release.
The maximum qualifying price for the program has been lowered to $55,000 MSRP, although the release states that this reduction still supports most electric vehicles.
The provincial government says that there are approximately 44 clean energy vehicles (CEV) available for sale in BC, most of which are priced between $30,000 to $50,000.
The provincial rebate for purchasing electric vehicles (EVs) has also been dropped, now paying out $3,000 for battery, fuel-cell, and longer-range plug-in EVs and $1,500 for shorter-range plug-in hybrid EVs.
Prior to these changes, the program offered up to $5,000 for the purchase or lease of brand-new battery electric or plug-in hybrid vehicles and up to $6,000 for hydrogen fuel-cell vehicles.
Vehicles purchased or reserved prior to June 22, 2019, however, will still qualify for the program’s incentives and rules prior to this change.
The CEVforBC program will run until March 31, 2020, or until funds are exhausted, whichever comes first.