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Illinois electric vehicle rebate program awards $19M in fiscal year 2023

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(The Center Square) – Illinois’ electric vehicle rebate funds aiming to reduce greenhouse gas emissions are depleted until the next funding round after it issued 4,873 rebates for the fiscal year ending June 30.

The program has awarded $19 million of rebates in fiscal year 2023.

The Illinois Environmental Protection Agency said the next EV rebate round will open Nov. 1 and run through Jan. 31, or as long as funds are available. The General Assembly appropriated an additional $12 million for EV rebates for the fiscal year ending June 30, 2024.

“Here in Illinois, we are leading the clean energy revolution – providing competitive incentives for companies and consumers alike,” Gov. J.B. Pritzker said in a statement. “Ever since I signed the landmark Climate and Equitable Jobs Act, we’ve distributed millions of dollars in rebates for residents who buy all-electric vehicles.”

Pritzker wants 1 million EVs registered statewide by 2030. As of August, the state had nearly 80,000 registered EVs, according to the Office of the Secretary of State. To reach 1 million EVs registed by 2030, Illinois would need to add more than 131,400 EVs in each of the seven years, which would require registering 10,950 EVs for every month until 2030.

In fiscal year 2023, the Illinois EPA received $20 million for the EV rebate program and received 7,669 rebate applications in two funding rounds. A total of 4,873 EV rebates were issued before program funds were exhausted for the fiscal year ending June 30.

Of the 7,669 rebate applications received, 754 were from low-income individuals, and 535 of those rebates were awarded. The state received 6,915 applications from non-low-income individuals and awarded 4,338 rebates.

Illinoisans who purchase a new or used EV from an Illinois licensed dealer may be eligible for a $4,000 rebate or a $1,500 rebate for buying an all-electric motorcycle.

EV purchasers must apply for a rebate within 90 days of the vehicle purchase date. Program funding amount will be determined by available funds, not to exceed $12 million.

“This incentive program was created to encourage Illinois residents to purchase electric vehicles and has already received tremendous response from Illinois motorists, with over $19 million in rebates awarded in fiscal year 2023,” Illinois EPA Director John J. Kim said in a statement.

Eligibility rules require the purchaser to live in Illinois at the time of vehicle purchase and rebate. An applicant may not previously have received an EV rebate, the rebate amount can’t exceed the vehicle’s purchase price, and the purchaser must own the vehicle for a minimum of 12 consecutive months immediately after the vehicle purchase date.

The CEJA housing the EV rebate program was signed by Pritzker in 2021. The law requires Illinois EPA to prioritize application reviews from low-income purchasers and award rebates accordingly. All other applications will be processed as received on a first-come, first-serve basis.

A rebate list shows the most popular vehicles.

Teslas: 2,769.Ford: 420.Chevrolet: 357.Volkswagen: 326.Rivian: 212.

The program also subsidized the purchase of luxury vehicles including 121 BMWs, 101 Audi E-trons, 25 Lucid Air Grand Touring, 25 Mercedes-Benzs, and 25 Porsches.

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