What you need to know about the incentive program
In an effort to curb global warming, the Government of Ontario has pledged to reduce greenhouse gas emissions by 15% below 1990 emission levels by 2020, 37% by 2030 and 80% by 2050. It is estimated that 34% of greenhouse gas emissions in 2012 came from vehicles. In order to meet these goals, the provincial government is introducing a number of incentive programs to assist individuals and businesses in purchasing more efficient vehicles.
Greenhouse gas emission reduction programs are being funded by the Ontario Cap and Trade program, which to date has collected $1.5 billion that will be spent on greenhouse gas emission projects. Over the past few years we have seen several grant and rebate programs emerge for reducing energy consumption, and there are certainly more incentive programs to come in the future.
Funding programs and amounts
The Government of Ontario has introduced the Electric Vehicle Incentive Program (EVIP) for cars and SUVs. EVIP provides the following incentives for battery electric vehicles (BEVs) with a manufacturer’s suggested retail price (MSRP) less than $150K and plug-in electric vehicles (PIEVs) with an MSRP less than $75K:
· Base incentive of $6,000 to $10,000 based upon the battery size of the vehicle for eligible electric vehicles with a battery capacity from 5 to 16 kilowatt-hours (kWh)
· Additional $3,000 incentive for eligible electric vehicles with battery capacities greater than 16 kWh
· Additional $1,000 incentive for eligible electric vehicles with five or more seats
· Incentives for PIEVs with an MSRP of $75,000 to $150,000 are $3,000
BEVs and PIEVS with an MSRP of $150,000 or greater are not eligible for an EVIP incentive.
The Green Commercial Vehicle Program (GCVP) is an incentive-based program for the commercial vehicles, where incentives are provided upon proof of purchase as outlined in the chart above:
How many vehicle rebates can I apply for?
There is no limit to the number of incentives that may be applied for. Payment of incentives will be subject to the availability of funds.
What happens if the manufacturer is not able to deliver my commercial vehicle within the six month period?
If the purchase is not completed within six months of the application being approved, a new application will need to be submitted. Under exceptional circumstances, applicants can contact the Ministry of Transportation to request an extension, which the ministry may choose to grant at its sole discretion.
How is the incentive amount calculated?
For vehicles, the incremental cost will be determined based on the pre-tax value of the alternative fuel vehicle and its conventional equivalent. The specified percentage and caps will then apply.
Incentive amounts are deducted from the final purchase price, after all taxes are applied.
How do I apply?
For more information on the Electric Vehicle Incentive Program:
http://www.mto.gov.on.ca/english/vehicles/electric/electric-vehicle-incentive-program.shtml
For more information on the Green Commercial Vehicle Program:
http://www.mto.gov.on.ca/english/trucks/green-commercial-vehicles.shtml
Electric vehicles up to $75,000 in rebates
