California's Clean Vehicle Rebate Project, which provides incentives for the purchase of plug-in hybrid electric vehicles and zero-emission vehicles, has boomed beyond expectations, leading the California Air Resources Board (CARB) to continue taking applications via a waiting list while the organization shores up an additional $5 million in funding for the program.
CARB says it will also be seeking $25 million in longer-terms funds in order to further expand its ability to serve an expanded waiting list.
Those placed on the waiting list will receive their rebates at the end of September. Eligibility criteria and rebate amounts for fiscal-year 2013-14, which ends June 30, will apply to these rebates. Under the program, individuals, nonprofits, government entities and businesses can get up to a $2,500 state rebate, which can be combined with an up to $7,500 federal tax credit and other regional incentives.
CARB notes that, right now, about 2,500 rebates are being processed monthly, totaling between $6 million and $7 million. Since the program began in March 2010, CARB has issued about $100 million for more than 50,000 rebates, and funding for the continuation of the program is currently in the governor's proposed budget.
More information about the program is available here.
