It is hard to believe that New York hasn’t offered any kind of cash incentive for buying an eco-friendly vehicle. Whereas almost over three-quarter of American states have offered some kind of incentive. New York on the other hand only offered federal tax credit till now.
But now New York is offering something that will really encourage people to buy eco-friendly vehicles. Months after approval from April 1st the state is launching a rebate program. It will give you up to $2,000 if you buy an electric car or plug-in hybrid. If the car you are buying is eligible for federal credit then you can get almost ten thousand dollars off the price tag.
It took a lot of time to start this program. The deadline for the launch of this program was April 1st. So the state stayed on this rebate as long as possible and staff at New York’s Energy Research and Development Authority are still hashing out the details of the rebate.
However, if it goes according to plan it could be vital. After California, New York is the biggest potential market for electric vehicles. So this step could help make Chevy Bolt, Tesla Model 3 and future EVs just affordable enough that even $2,000 could make a big difference. It is specifically important for Tesla Model 3. As it is eligible for federal credit and the pre-orders are pretty strong.