State offers additional $30M toward purchase or lease of EVs

ALBANY | Gov. Kathy Hochul chose Earth Week to announce that an additional $30 million is now available for consumers to use toward the purchase or lease of an electric vehicle (EV) in New York State. This announcement reinforces the State's commitment to improve access to zero-emission electric vehicles and enhance affordability — while helping to reduce vehicle pollution and provide cleaner air in New York communities. "As the federal administration continues to roll back support for clean air and electric vehicles, New York State is leaning in to prioritize benefits that reduce consumer out-of-pocket costs while reducing harmful emissions," Gov. Hochul said. "At a time when gas prices at the pump have soared in the wake of the war with Iran, electric vehicles will help make driving more affordable for New Yorkers." This funding is available through the Drive Clean Rebate Program, administered by the New York State Energy Research and Development Authority (NYSERDA), which provides consumers with a point-of-sale rebate at the time of vehicle purchase or lease from a participating dealership. The amount ranges from $500 to $2,000 off of the manufacturer suggested retail price (MSRP) of a battery-powered EV or plug-in hybrid, with a higher rebate available for longer-range EVs. NYSERDA President and CEO Doreen M. Harris said, "NYSERDA is proud to partner with dealerships statewide on the Drive Clean Rebate to lower EV costs for New York drivers and their families. Newer models cover impressive distances of over 200 miles, are quiet, comfortable and a solid option for car buyers who are looking to lower costs now — especially in this current economic landscape." NYSERDA compared the price of gasoline with electricity rates, and results show that New Yorkers can save from 40 percent to almost 70 percent annually by driving an electric car or SUV. For example, instead of paying well over $4.00 per gallon at the gas pump, an EV driver would pay as little as $1.33 for an equivalent amount of electricity. Since its launch in 2017, Drive Clean Rebate program has issued over 228,000 rebates to consumers, contributing to approximately 324,000 EVs on the road statewide. More than 60 EV models are covered and new models are added to the program every year. Over the last five years, an average of more than 20 new models were added to the eligible vehicle list every year. Consumers can use NYSERDA's EV Calculator for Passenger Vehicles to run side-by-side comparisons of electric vehicle models, including the vehicle range, price after incentives and other specifications. The calculator also factors in electricity rates and driving habits to generate tailored results and provides recommendations for EV charging equipment and when to charge for optimal savings. NYSERDA also provides consumers with fuel market data through the Weekly Transportation Fuels Dashboard. The Drive Clean Rebate complements New York State's efforts to provide easy access to electric vehicle chargers. Currently, the state has more than 19,000 public chargers installed statewide — more public chargers than any other state except for California — and thousands more semi-public charging stations at workplaces and multifamily buildings across the state. Under Gov. Hochul's leadership, New York State is investing nearly $3 billion in zero-emission vehicles and expanding access to clean transportation to benefit all New Yorkers, including those in low-income or disadvantaged communities. In addition to the Drive Clean Rebate Program other state initiatives include the EV Make Ready, Charge Ready 2.0, EVolve NY, the New York Truck Voucher Incentive Program (NYTVIP), the New York School Bus Incentive Program and the Direct Current Fast Charger Program. The program is funded through Regional Greenhouse Gas Initiative (RGGI) funds.

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State offers additional $30M toward purchase or lease of EVs

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