California Legislature Funds Rebate Program

[roundpeg]

At the very last moment of the end of the legislative session the California Legislature voted to fund the program that includes rebates for zero-emission vehicles at $133M. It had been held up due to wrangling over how the state's cap and trade funds would be allocated. The rebate (presumably still $2,500) is now limited to buyers earning less that $150,000. I figure that covers 12,000 vehicles, not a huge number in a state as large as California, and the funds will also have to cover the buyers who submitted rebate applications during the period when the program was unfunded. Still, good news for Bolt buyers in the Golden State.

http://www.latimes.com/politics/essential/la-pol-sac-essential-politics-updates-gov-jerry-brown-and-legislature-reach-1472661557-htmlstory.html

 

[Anonymous]

Thanks for the article link.

> I figure that covers 12,000 vehicles

Hm, I'm not sure about the math there... $133M/$2500 = 53200 cars, not 12000.

From the article:
>> About half of those who had received subsidies to purchase low- or zero-emission vehicles were earning more than
>> $200,000 a year, according to a state survey. A new bill would limit the subsidy to those making less than $150,000.

It sounds like they're not serious about wanting California to sell more EVs, then. Take away a tax incentive and it shifts people away from that choice and back to gas vehicles. The $2500 subsidy dramatically decreases the TCO of a 3-year lease for something like a Leaf S.

- Bruce

 

[roundpeg]

Thanks for the math check. I pushed the wrong button on my calculator I guess.

I can understand the thinking on income limiting the rebate to stretch the funding out to a larger number of the less affluent buyers to whom $2,500 is a meaningful incentive. The money will still go out, but to more Bolt and fewer Tesla buyers I suppose.