Washington’s new $45 million Electric Vehicle Instant Rebate Program for buying or leasing electric vehicles, announced at an Aug. 1 press conference in Seattle, appears to be second only to California’s as the most generous in the nation.
California’s rebates, though, are drastically larger than Washington’s. Eligible Californians can obtain up to $22,500 from four different programs, while eligible Washingtonians can obtain up to $9,000 from one program, which launches this month. With the federal $7,500 rebate, EV car buyers could get up to $30,000 in California compared to $16,500 in Washington. A Kelley Blue Book listing shows 49 states offer some kind of electric car rebate – all except Montana. Washington’s program is aimed at low- and moderate-income buyers, potentially increasing the number of EVs on the roads. The program expects to provide between 6,500 and 8,000 rebates during its first year. Prospective buyers have until June 2025 to apply for their rebates, which is when the $45 million appropriation – about 0.6% of the state’s general fund – expires.“We know the cost of EVs will come down quite rapidly, but we don’t want to wait. Everyone essentially will be able to get one for less than $200 a month,” Inslee said.Most electric vehicles sold nationwide cost between $40,000 and $75,000, although a new Nissan Leaf sells for roughly $30,000. A chart at last Thursday’s press conference showed the monthly lease prices for seven models ranging from $104 to $199, but 19 other models lease for more than $200. The average gas-powered car monthly payment is about $700, according to the Washington Department of Commerce. State officials said 122 Washington auto dealers will participate in this program. Mike Fong, director of the Washington Department of Commerce, said rebates will be available for people or families who earn less than 300% of the federal poverty level: $45,180 for a single person and $93,600 for a family of four. Roughly 37% of Washington’s families earn below that threshold.Washington rebates can be used along with a federal Internal Revenue Service rebate of up to $7,500 for an eligible new electric vehicle and up to $4,000 for the purchase of a used electric vehicle.More information on the Washington EV rebate program is available on theDepartment of Commerce website.Rebates are higher for leases than for purchases: in Washington, up to $9,000 for a family obtaining a three-year lease on an EV, up to $5,000 for a rebate on a two-year lease, and up to $2,500 for leasing a used EV. A $5,000 rebate is available to a family or person buying a new EV, and $2,500 for a family or person buying a used EV.The rebates also are scaled, so the more expensive the monthly payment, the higher the rebate, up to $9,000. For leases, the rebate comes close to covering monthly costs. A $104-per-month payment could translate to $3,744 over three years – which would cover that cost during that time. A monthly payment of $300 could result in a maximum rebate of $9,000 over three years, which wouldn’t quite cover the $10,800 cost during that time.Washingtonians drove 194,232 passenger EVs (including both full-battery vehicles and plug-in electric hybrid vehicles) as of June 2024, according to the Washington Department of Licensing. To reach its targets on trimming pollution, the state estimates it requires 265,735 passenger EVs to be on the road by the end of this year to be on pace to hit targets of 1.4 million electric vehicles by 2030 and 3.1 million by 2035.Washington currently has 5,841 public charging ports for EVs: 4,546 regular chargers and 1,295 fast chargers. According to the state’s Transportation Electrification Strategy, to hit state targets, by the end of 2025, Washington needs 3,912 regular chargers and 3,030 fast chargers.These targets will grow to 8,671 regular public chargers and 6,926 fast-charging public ports in 2030, and 13,068 regular and 10,522 fast-charging ports in 2035. These numbers do not include the chargers needed for electric trucks and buses. Commerce Department spokeswoman Amelia Lamb noted that these figures also do not Include at-home private charging ports, for which the state has incomplete data. State targets for home-charging ports are 1.26 million by 2030 and 2.94 million by 2035.
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