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The provincial government has announced that it will be offering incentives to those interested in purchasing a clean energy vehicle.
Anyone who purchases or leases a new battery electric or plug-in hybrid electric vehicle can receive the incentive and up to $6,000 for a hydrogen fuel cell vehicle. The latest incentives are part of Phase 2 of the Clean Energy Vehicle (CEV) Program which starts on April 1st, 2015. This program will see the province distribute $10.6 million over the next three years for several purposes including:
$7.5 million for point-of-sale incentives for electric and hydrogen fuel cell vehicles; $1.59 million for investments in charging infrastructure and hydrogen fuelling infrastructure; $1 million for incentives for commercial fleet purchases of clean energy vehicles; and $500,000 for research, training, and public outreach on clean energy transportation technology.
An electric vehicle costs about 25 per cent more than non-electric vehicles but can save drivers about 75 per cent on their fuel costs, which adds up to $1,600 per year. The first phase of the CEV program ran from 2011 to 2014 and helped support the purchase of 950 electric vehicles and the development of over 1,000 charging stations, resulting in 57,000 tonnes of direct emissions reductions.
The purchaser or leasee of a qualified new hydrogen fuel cell vehicle will also receive an additional point-of-sale incentive of $1,000 to offset the current barrier of limited hydrogen fuelling locations for fuel cell vehicles.
Eligible vehicles and the maximum point-of-sale incentive amounts are as follows:
1. Battery Electric Vehicle: $5,000
2. Hydrogen Fuel Cell Vehicle: $6,000
3. Plug-In Hybrid Electric Vehicle /Extended Range Electric Vehicle with a minimum battery capacity greater than 15 kilowatt hours (kWh): $5,000
4. Plug-In Hybrid Electric Vehicle/Extended Range Electric Vehicle with a minimum battery capacity of less than 15kWh but greater than 4kWh: $2,500
Leased vehicles are eligible for an incentive depending on the term of the lease and whether the vehicle is used for personal or fleet purposes as follows:
12-month lease: 33 per cent of CEV incentive for personal and 0 per cent for fleet.
24-month lease: 66.7 per cent of CEV incentive for personal and 0 per cent for fleet.
36-month lease: 100 per cent for CEV incentive for personal and fleet.
No vehicle purchased or leased prior to April 1, 2015, will be eligible for an incentive. The point-of-sale incentives will run until March 31, 2018, or until funds are exhausted.
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