The CHEAPR (Connecticut Hydrogen and Electric Automobile Purchase Rebate) board has approved a new program that should be of interest to Connecticut electric vehicle buyers.
Firstly there’s a new incentive of $2,250 for BEV’s that surpass 200 miles. This supersedes an older incentive of $1,500. (The incentive for BEV’s with under 200 miles of range has also been updated to $2,250 from $500.) However, Tesla buyers should note a MSRP cap of $42,000 —meaning this rebate will only apply to Model 3 Standard Range Plus and the “off-menu” Model Y Standard Range.
Additionally there is a supplemental incentive of $2,000 for individuals below a certain income threshold, which raises the total incentive to $4,250. Eligibility is determined based on an individual’s participation in other state assistance programs, including the Energy Assistance Program.
Of particular interest to used Tesla buyers should be a newly-introduced $3,000 used incentive for BEV’s. This applies to licensed dealers and is not applicable to private sales. However, this is income-limited and only available to those participating in approved assistance programs.
The incentives offered are limited to once per driver per lifetime. Updated incentives will become effective on or around April 1, 2021.
Offering incentives is a great way to increase EV adoption across the state. Frankly it makes sense why Connecticut is mainly subsidizing new electric vehicles under a certain threshold: they’re making EV’s more affordable for those who most need the subsidy, rather than offering a discount on higher-optioned configurations.
Limiting the used EV incentive is also a way for the CHEAPR board to make used electric vehicles accessible to those who most need the subsidy; effectively, they’re targeting buyers that would otherwise be limited to an internal combustion engine vehicle.
Purchasing a used Tesla from a dealer in Connecticut for eligible buyers to benefit most. Other Connecticut buyers may want to look into the base models of Tesla’s most popular vehicles.
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