Now that electric cars are mainstream, higher-income Californians will no longer qualify for state subsidies. Lower-income buyers could get up to $12,000.
The future of clean car technology may very well be hydrogen fuel cells. While you can already drive one on the road today, filling it up conveniently is another matter.Erich Muehlegger, a professor of economics at UC Davis, said the Clean Vehicle Rebate Project has been “the main workhorse to encourage people to buy zero-emissions vehicles.”according to CalMatters reporting. Last year, the program was flooded with requests for the money, resulting in long waits.
In addition, the various state programs were confusing to Californians. Now they can apply in one place. “Closing out the [rebate] program has been the plan for some time, and in 2015 the decision was made that when ZEVs reached 16% of new vehicle sales would be the point where that would happen. We let it run longer [25%] just to ensure we had a healthy market,” Clegern said.
“The state concluded that shifting financing to Californians who may have been left out of the ZEV market because of their income is the right thing to do and also deepens the market,” he said. The program that will be expanded, Clean Cars 4 All, has assisted low- to middle-income households as well as families who live in areas designated as “disadvantaged communities,” with low socioeconomic status as well as environmental risks.The money comes from the state’s greenhouse gas reduction fund, which raises money by selling carbon allowances to pollution-emitting businesses, as well as money from the state’s budget.
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California Scales Back Electric Car Rebates To Focus On Lower-Income Car BuyersNow that electric cars are mainstream, higher-income Californians will no longer qualify for state subsidies. Lower-income buyers could get up to $12,000.
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