$5,000 Rebates for EV Vehicles; Will it Continue in Oregon?

Oregon’s Department of Environmental Quality (DEQ) has announced that its cash rebate for buying electric vehicles (EVs) will be put on hold temporarily due to low cash flow.

$5,000 EV rebates in Oregon. (Photo: CNET)

$5,000 for Purchasing EV

The program, which offers rebates of up to $5,000 for EV purchases, will be suspended starting from May 1st. According to a press release, the DEQ has advised state residents to purchase an EV by the deadline and apply for the rebate within six months.

The rebate amount ranges from $2,500 to $5,000, depending on the buyer’s income level. The program, which had a budget of $15.5 million, is expected to be depleted in the next two months, after which eligible applications will go on a waiting list to be paid out in early 2024 when the DEQ gets its next allotment, according to a published article in FORTUNE.

Oregon’s Clean Vehicle Rebate Program, which has been successful since its inception, offers generous rebates to state residents who buy or lease EVs, including up to $2,500 for electric cars and $750 for a zero-emission motorcycle. Low-income residents can also qualify for as much as $7,500. Since the rebate was introduced, almost 25,000 EV buyers have been rewarded over $68 million.

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DEQ Director Released a Statement

Oregon DEQ Director Leah Feldon praised the state’s EV rebate program, calling it one of the most generous in the country. She said that rebates are instrumental in lowering the costs of EVs for Oregonians, and the 2023 rebate applications are coming in at the highest rate yet.

In addition to the state’s program, several electric and utility companies are offering their own rebates. For example, Pacific Power customers can receive a $500 rebate for purchasing and installing a new EV charging station, while Eugene Water & Electric Board customers can claim $500 for installing a qualified charging station.

While Oregon’s Clean Vehicle Rebate Program is currently out of cash, eligible EV buyers are advised to take advantage of the program before the deadline and apply for rebates within six months. The suspension of the program will be temporary, and eligible applications will be paid out in early 2024 when the DEQ gets its next allotment.

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