The state of Connecticut has allocated $2 million in additional funding to continue its popular EV rebate program.
The Connecticut Hydrogen and Electric Automobile Purchase Rebate Program (CHEAPR), created in 2015, provides a cash rebate for residents who purchase or lease an EV, PHEV or fuel cell vehicle. Plug-in vehicles are eligible for incentives of $750 to $3,000, depending on battery size, while fuel cell vehicles receive $5,000.
CHEAPR is better than the federal tax credit is (or was) for two reasons: first, instead of a tax credit, which buyers may or may not be able to take full advantage of, Connecticut buyers receive “cash on the hood.” Second, car dealers get to keep a small piece of each CHEAPR rebate, in order to motivate salespeople to promote plug-ins.
Consumers in Connecticut have bought 2,067 vehicles under the rebate program since its launch.
“EV incentive programs help consumers think about alternatives that are good for the environment as well as their bottom line when shopping for a new car,” said Jim Fleming, President of the Connecticut Automotive Retailers Association (CARA). “CARA thanks Governor Malloy for creating this program and strengthening the EV market in Connecticut.”