KARAH RUCKER: IN NEW JERSEY – A GOVERNMENT REBATE PROGRAM THAT INCENTIVIZES DRIVERS TO GO ELECTRIC HAS RUN OUT OF MONEY – BECAUSE THE STATE INCENTIVE WAS SO SUCCESSFUL IN ENCOURAGING RESIDENTS TO BUY ELECTRIC VEHICLES.

THE “CHARGE UP NEW JERSEY PROGRAM” HAS BEEN PROVIDING FOUR THOUSAND DOLLARS TO RESIDENTS WHO BUY OR LEASE A NEW ELECTRIC VEHICLE.

THESE FEDERAL TAX CREDITS ARE MEANT TO HELP BRING THE PRICE OF AN EV DOWN FOR BUYERS – WHO ON AVERAGE ARE SPENDING 58 THOUSAND DOLLARS FOR AN ELECTRIC VEHICLE.

AND RESIDENTS ARE ALL ABOUT IT – DRAINING THE EARMARKED FUNDING FROM THE INCENTIVE PROGRAM’S BUDGET THIS YEAR.

THE STATE IS NOW HAVING TO PAUSE IT’S REBATE PROGRAM BECAUSE DEMAND WAS SO HIGH.

SINCE LAUNCHING ITS REBATE PROGRAM THREE YEARS AGO – THE STATE HAS GIVEN MORE THAN 90 MILLION DOLLARS WORTH OF REBATES TO PEOPLE IN NEW JERSEY.

THE REBATES WILL BE AVAILABLE AGAIN ONCE ITS BUDGET RENEWS IN JULY.

EV’S MADE UP 8 PERCENT OF ALL NEW CAR SALES IN NEW JERSEY LAST YEAR. WHICH IS HIGHER THAN THE NATIONAL AVERAGE OF 5.7%.