12 min read
Changes to the Electric Vehicle iZEV Rebate Program
As of December, an additional $73 million was added to the iZEV electric vehicle rebate program, bringing the total contribution to $660 million since 2019. We also look at the provincial rebate programs that have also been updated and are stackable with the iZEV program.
A few months ago, we posted a blog about the Incentivised Zero Emissions Vehicle Program(iZEV). Since then, in December, the government of Canada has announced an increase of $72.3 million in funding to extend the program until March 31, 2022, and that is big news for Canadian residents!
The Government also stated that if the funds drop below $20 million before the end of March, they will establish a process to ensure the incentives are honored.
The iZEV rebate program has also been expanded to include new vehicles on the market such as the 2022 Chevrolet Bolt EV and Mazda’s 2022 MX-30, both 5 seaters. And the 2022 5 seater Kia Sorento is a Plug-in Hybrid electric vehicle(PHEV). Click here to view the full list of eligible vehicles.
Unfortunately for Tesla, which was a top-selling EV's, the 2022 and 2021 Model 3 Standard Range and Standard Range Plus are no longer eligible because of a price increase. The $72,600 Volvo C40 Recharge and Ford F-150 Lightning EV, which is one of the largest EVs available starting at $68,000 for the XLT, are also not eligible under the current iZEV rebate program.
The good news is that many provinces are offering additional incentives on top of the Federal iZEV rebate program and are stackable to increase your savings! The Liberals are also promising to increase the incentives budget to $1.5 billion to reach net-zero by 2050. And the Liberals of Ontario are planning to reinstate their incentive program if re-elected, keep reading to find out more! So far the program has been very popular, but Transport Minister Omar Alghabra thinks there’s room for improvement.
Find below the updated rebate programs offered from each province that can add additional rebates upon purchasing an EV vehicle.
Incentives by Province
British Columbia is still offering their fantastic $3,000 rebate and SCRAP-IT programs for residents looking to upgrade to an electric vehicle. The province is very interested in continuing the programs and added $94 million to its 2021 budget which they planned to use to increase their 2,500+ public charging and hydrogen fueling station networks. They also planned to use the money to fund 10 academic and research projects to provide electrical and automotive tech training to fortify their infrastructure.
The Roulez vert program in Quebec which is their electric vehicle incentive program will remain in effect until March 31, 2022, and they will continue to offer the $8,000 rebate on new EVs costing less than $60,000 until then.
Ontario is still not currently offering a Provincial rebate, however, the Ontario Liberals are proposing an $8,000 incentive for qualifying electric vehicle purchases and a $1,500 rebate for home charging equipment IF they win the 2022 provincial election in June. The non-profit Plug’N’Drive is still offering a $1,000 incentive on the purchase of used EVs up to $50,000. And a $1,000 scrappage incentive of an old gas car that can be used towards the purchase of a used electric vehicle.
New Brunswick is the most recent province to offer an incentive program and it has taken off! The demand has been so high in fact, that processing your EV rebate application may take longer than expected! It’s easy to see why New Brunswicker’s are so enthusiastic. The province has been matching the federal electric vehicle iZEV rebate program with a $5,000 incentive on EVs or Plug-in Hybrids and a $2,500 rebate on used EVs or Plug-in Hybrids. Additionally, you can get a $750 rebate to install an electric vehicle charging station at your home.
Electrify Nova Scotia Rebate Program was introduced in February of 2021 and is still going strong. They are still offering an instant point of sale rebate of up to $3,000 on new EVs and Plug-in Hybrids and up to $2,000 on used vehicles. The vehicle must have an MSRP under $60,000.
Prince Edward Island
Islanders still have access to a very generous EV rebate program of $5,000 which can be applied to either a new or used electric vehicle. While hybrids only qualify for up to $2,500. P.E.I. is offering one extra perk, they will send you a free Level 2 charger once the application has been processed. Installation charges will be your responsibility and only one charger per household.
Newfoundland & Labrador
Newfoundland is still accepting applications for its EV rebate program of $2,500 for new models. March 15, 2022, is the date when the $500,000 budget will be exhausted, so hurry!
The Arctic Energy Alliance is also offering a $5,000 rebate for new EVs and Plug-in Hybrid vehicles and $500 for Level 2 chargers. The government of the Northwest Territories is funding this program to meet the objectives of the NWT’s 2030 Energy Strategy.
The Yukon in the far north wants to see more electric vehicles on the road and less pollution in the sky. They are offering a $5,000 rebate on new EVs, Plug-in Hybrids with a 15-kilowatt-hour battery capacity or greater, and Hydrogen Fuel Cells. They are also offering a $3,000 rebate for a new Plug-in Hybrid with a battery capacity of fewer than 15 kilowatt-hours. Yukoner’s can use 2 rebates during the life of the program.
Canadians Protecting The Environment
With so many available incentives, it’s easy for Canadians to take advantage of the federal and provincial electric vehicle iZEV rebate program. And take a proactive part in protecting the environment. There are no fees associated with the Federal program, just savings!