Prince Edward Island in Canada has announced details of its new electric vehicle rebate on Thursday, set to offer $5,000 CAD ($4,007 USD) for residents of the province.
According to a press release, PEI says residents can get a $5,000 rebate when buying a new or used electric vehicle.
Also available is a free Level 2 charger for those that purchase an EV, and $2,500 CAD to those who purchase a plug-in hybrid. Residents are responsible for installation costs, however.
“We know that one of the main hurdles for Islanders to switch to an electric vehicle is the high cost. With that in mind, we are launching an EV incentive in an effort to increase uptake and in return, reduce greenhouse gas emissions from our transportation sector – which represents nearly half of overall provincial emissions. This will help us get closer to our goal of Net Zero by 2040,” said Steven Myers, Minister of Environment, Energy and Climate Action, in a statement.
This means residents in PEI will be able to save $10,000 CAD ($8,015 USD) off a new EV, when combined with the federal government’s $5,000 CAD rebate.
A Tesla Model 3 Standard Range Plus starts at $52,990 CAD. Minus $10,000 CAD in rebates and the EV will cost $42,990 CAD ($34,457 USD), equivalent to the cost in the U.S. for a California buyer.
British Columbia, Quebec, and Nova Scotia also offer EV rebates, with PEI now the fourth province in Canada to do so.
