New Program Offers Cash Incentives for Recent EV Purchases: Get Ready to Compete

Residents in Minnesota can now take advantage of rebates when purchasing electric vehicles, making it easier than ever to go green. The Department of Commerce in the state has started accepting applications for rebates, thanks to new legislation aimed at reducing carbon emissions and combating climate change.

Minnesota’s electric vehicle rebate program has allocated significant funds, with .6 million available this fiscal year and .2 million next year. The program is set to run until June 30, 2027, or until the funds are depleted, with payments expected to begin in April.

Under the program, residents can receive up to 0 when purchasing a used EV and up to ,500 for a new one. The eligibility criteria include a maximum MSRP of ,000 for new vehicles and a purchase price of ,000 or less for used vehicles. When combined with the federal incentive of up to ,500, residents can potentially save up to ,000 on their EV purchase.

Minnesota is following the lead of states like California and Colorado in incentivizing the adoption of electric vehicles to reduce greenhouse gas emissions. EVs produce zero tailpipe pollution, making them a cleaner alternative to traditional gas-powered cars.

Peter Wyckoff, assistant commissioner for federal and state energy initiatives at the DOC, emphasized the importance of offering economic incentives to accelerate the transition to clean energy technologies. By making EVs more affordable for residents, the state aims to drive faster adoption of environmentally friendly vehicles.

To stay updated on the latest news and information on sustainability, sign up for our free newsletter providing actionable tips to help both yourself and the planet.