A fund to help consumers in Californian buy the latest green cars is expected to run out next month due to unprecedented demand.
The Air Resources Board of the California Environmental Protection Agency has announced that its $11.1 million Clean Vehicle Rebate Program is about to run dry, as Californians snap up the rebates worth between $1,500 to $5,000 for buyers of electric and plug-in cars such as the Nissan Leaf and Chevrolet Volt.
In response to the high level of demand, the Board is seeking to triple the funding allocation for the next fiscal year to between $12 million and $17 million but to reduce the individual rebates to a maximum of £2,500 to make the rebates available to more buyers.
Launched in March 2010, vehicle rebates were offered on a first-come, first-served basis for electrified passenger cars and zero-emission motorcycles. The original fund of $9.1 million was increased by $2 million earlier this year by the California Energy Commission to fund an additional 400 vehicles. About 1,400 rebates have been issued to date.
Even with the anticipated increased number of rebates available, consumers are encouraged to apply early. If the funding runs out before the new allocation is approved, applicants will be put on a waiting list pending new rebates.
