NorthJersey.com- New Jersey residents who have bought an electric car anytime on or after Jan. 17 will be eligible for a new state incentive worth up to $5,000 off the negotiated price, Gov. Phil Murphy said Monday.
The rebate became effective the day Murphy signed into law a bill that created the incentive program. Motorists had questioned when the rebate would go into effect, because a contractor for the state Board of Public Utilities is still developing the rebate system.
"The immediate and enthusiastic public response shows how eager New Jerseyans are to join this clean energy transportation revolution," Murphy said in a news release.
New Jersey motorists now have one of the best incentive packages in the nation to buy a fully electric vehicle.
The incentive offers $25 per mile of a car's electric-only range.
That means any car with a range of 200 miles or better — such as a Tesla, Chevy Bolt EV or Nissan Leaf — will receive the $5,000. Plug-in hybrids have shorter ranges and would receive less. Traditional hybrids do not qualify.
The amount will automatically be deducted at the time of the sale. The car dealership then gets a rebate from the state government, which is funding the program with $30 million annually from an existing fee on residents' electric bills.
In addition to the incentive, New Jersey waives the 7% sales tax on all-electric vehicles.
The law is intended to help lower air pollution levels, including greenhouse gases. New Jersey continually receives failing grades for high smog days from the American Lung Association.
The law also calls for:
- 1,000 level-two chargers, which add 10 to 60 miles of range per hour of charging, by 2025.
- 30% of all apartment, condo and town house developments to have chargers by 2030.
- 50% of all franchised hotels and motels to have chargers by 2030.
- all non-emergency state-owned cars and small trucks to be electric by 2035.
- NJ Transit to buy only electric-powered buses by the end of 2032.