By Ramona du Houx

August 12, 2020

According to New Jersey’s Board of Public Utilities (BPU) the state received 1,800 applications for its new electric vehicle rebate program in just the last two months.

The BPU has approved more than 1,000 applications for a total of about $5.8 million. The agency runs the program and is reviewing the remaining applications. The program set aside $30 million annually for 10 years for the rebates, to be paid by the New Jersey’s Clean Energy Fund, with a goal is to get 330,000 electric vehicles on the road by 2025. But due to the pandemic about $16 million of that has been shifted to fund other Clean Energy programs.

In January Governor Phil Murphy signed the legislation for electric vehicle sales with a $5,000 rebate, combined with an existing sales-tax exemption. The rebates apply to electric vehicles with a retail price below $55,000.