As a result of strong demand for green transportation, the BC government is contributing an additional $10 million to the Clean Energy Vehicle Program.
On Monday, the Government of British Columbia announced it is is contributing an additional $10 million to the Clean Energy Vehicle Program (CEVP).
“We are making it easier for everyone in our province to choose a clean-energy vehicle as their next purchase,” said Michelle Mungall, Minister of Energy, Mines and Petroleum Resources.
The government says that as a result of the province’s efforts and strong demand for accessible clean transportation, funding for the CEVforBC point-of-sale incentives is running out sooner than expected.
The additional $10 million is being added to maintain the program until the provincial government releases a strategy for a clean-growth future later this year. A new CEVP is expected to be part of this strategy.
Mungall says “These additional funds will make transportation more affordable today, while supporting our long-term work to build a cleaner future”.
The BC government says the transition to clean-energy vehicles is an important part of meeting the Province’s updated greenhouse gas reduction targets.
The program’s targets include a 40 per cent reduction in carbon emissions from 2007 levels by 2030, and a 60 per cent reduction from 2007 levels by 2040. The Horgan government says its upcoming clean-growth plan is part of its work to build a strong, stable and innovative economy.
The latest statistics indicate British Columbia has the highest per-capita electric-vehicle adoption rate in Canada. British Columbia had the highest market share of electric-vehicle sales in Canada at 3.7 per cent in June. Between April and June of this year, more than 1,400 incentive applications were paid out to consumers.
In the fall 2017 Budget Update, the BC government recommitted $40 million for the Clean Energy Vehicle Program, with $27 million going to the CEVforBC vehicle incentive program. Due to the popularity of the incentive program, the $27 million would have been depleted by the end of this month (September 2018).
Point-of-sale incentives are administered by the New Car Dealers Association of BC and offer up to $5,000 for the purchase or lease of a new battery electric or plug-in hybrid EV as well as $6,000 for a hydrogen fuel-cell vehicle.
According to the government of BC, British Columbians who purchase electric vehicles typically save about 75 per cent on their fuel and maintenance costs, adding up to about $2,400 per year.
The $27 million allocated to the CEVforBC program in the fall of 2017 is expected to result in over 6,000 new clean-energy vehicles reaching BC’s roads.