New Jersey Electric Vehicle Rebate Program Added 22K Vehicles
Written by Scott McClallen, The Center Square
Published Aug. 30, 2023
New Jersey has provided 22,448 electric vehicle rebates and will spend $82 million on the program to reduce greenhouse gas emissions and air pollution.
In 2012, only 1,557 electric vehicles were registered statewide. But from January through April 2023, the state added 7,902 EVs.
Charge Up New Jersey offers incentives of up to $4,000 for purchasing or leasing a new, eligible battery electric vehicle and $250 for purchasing an eligible EV charger.
In the program’s first three years, the state provided incentives for more than 16,000 vehicles.
At the end of 2022, there were 91,560 electric vehicles on the road in New Jersey according to the New Jersey Department of Environmental Protection. These figures represent a major increase in the number of New Jerseyans driving EVs.
Gov. Phil Murphy signed a bill aiming for at least 330,000 total registered light-duty vehicles to be plug-in EVs by the end of 2025, and by 2035, at least 2 million total registered light-duty vehicles to be plug-in electric vehicles. The goal is to reduce greenhouse gas emissions and air pollution from personal transportation.
“As we enter year four of Charge Up New Jersey, we will continue to establish EVs as an affordable and accessible option for all residents, regardless of their income or ZIP code,” said Murphy.
The funding amount of $90 million for EV incentives includes total funding allocated for fiscal years 2022, 2023 and 2024 of $30 million annually. Of EV rebate funding, the program has spent $62 million and has nearly $28 million remaining.
In the third year, the state provided incentives for lower-cost EVs to encourage moderate-income buyers to consider EVs. In year four, the state will provide incentives of up to $4,000 for vehicles with an MSRP under $45,000 and incentives of up to $1,500 for vehicles with an MSRP between $45,001 and $55,000.
In fiscal year 2024, the State Board of Public Utilities has budgeted $12 million for the Clean Fleet Program, $8 million for the EV Tourism Program and $15 million for the multi-unit dwelling program.
The U.S. Energy Information Administration says New Jersey had nearly 800 public electric vehicle charging stations as of late 2022.
Federal data from 2022 says NJ has:
- 87,000 electric vehicles
- 26,800 plug-in hybrid electric vehicles
- 142,600 hybrid vehicles
- 404,200 ethanol/flex
- 6.3 million gasoline vehicles
- 85,500 diesel vehicles
This year, the Clean Fleet program will offer a $10,000 incentive for Class 2b-6 vehicles, which may be used for vehicles including garbage trucks, school buses and shuttle buses.
“In order to remain on track to meet our bold emissions reduction goals, we must ensure that cost constraints and range anxiety no longer pose formidable obstacles for our hard-working families. By investing in electric vehicle affordability and charger access---in addition to enhancing incentives for EVs with lower price points---we will provide every New Jerseyan with an opportunity to reap the full economic and environmental benefits of our transition to a 100% clean energy economy,” Murphy added.
We thank The Center Square for reprint permission