California CARB runs out of $, for now (March 28, 2014)

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Dianne

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May 10, 2013
Messages
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California Runs Out of Clean Vehicle Rebate Funds for ZEVs and Plug-ins - Consumers Buying These Vehicles Will Now Be Added to a Waiting List
...... the California Air Resources Board (CARB) will suspend cALIFORNIA rebates of up to $2,500 under the Clean Vehicle Rebate Program TODAY. Buyers of these vehicles who complete applications will be added to a waiting list for $5 million in additional funding. Eligibility for federal rebates are not affected by this announcement.

Beyond the additional $5 million already allocated (which at current sales volume could last for less than 30 days), consumers added to the waiting list likely must await funding to be approved by CARB and as part of the state budget to be adopted this summer. Though we believe that that this program will receive additional funding, there is no guarantee that it will. Potential electric vehicle customers should be made aware of this fact. Rebates from the waiting list won't be paid until late September at the earliest, according to CARB.
 
http://energycenter.org/clean-vehicle-rebate-project

FYI. If you apply on or after March 28th, you get the $ in September. They are being very clear about this on the CVRP site.
 
I believe the incentive to hold out, but I am unsure as to the willingness to extend the unlimited mileage lease and I am painfully aware that the residuals are dropping on April 1st.

Terran said:
Will the current RAV4 EV lease program be extended?
 
Update on the program: http://energycenter.org/article/clean-vehicle-rebates-put-waiting-list

"Air Resources Board announced March 28 a rebate waiting list up to a total of $5 million for Clean Vehicle Rebate Project (CVRP) funds."

"To accommodate expected market growth into the summer, ARB staff plan to propose expanding the waiting list by an additional $25 million at the board’s April meeting."
 
"Consumers placed on the waiting list will receive their rebates at the end of September. Eligibility criteria and rebate amounts for fiscal year 2013-14, which ends June 30, will apply to these rebates."

Almost sounds like the program may change after June 30. Or maybe no change.
But if on the fence about a new plug in vehicle..... sooner might be better than later.
 
Dianne said:
I believe the incentive to hold out, but I am unsure as to the willingness to extend the unlimited mileage lease and I am painfully aware that the residuals are dropping on April 1st.

Terran said:
Will the current RAV4 EV lease program be extended?


I confirmed today with a local dealer, and you can see it on the web, the lease program has been extended to 5 May
http://www.toyota.com/local-specials/#!/series/rav4ev/year/2014/incentiveid/78777
Fine print on the site shows the mileage limit to be 12K +$0.15/mile
 
My original post was about ARB running dry on their state funds.
Had nothing to do with the region's lease deals.
 
CARB added another $25M funding commitment to pay for wait-listed rebates that will accumulate through June 30. That is in addition to the $5M that was committed when the wait list was initiated.

http://insideevs.com/carb-adds-25-million-funding-clean-vehicle-rebate-project/
 
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