Washington Offers Major EV Incentives

By Douglas McIntyre  •  April 27, 2024
Chait Goli Pexels

As EV sales soften, among the factors most likely to keep them from collapsing are incentives. The most well-known is the federal program, which offers as much as $7.500 as a tax credit for EV purchasers. However, if current sales trends continue, the federal incentive alone will not be enough to rebuild consumer interest.

Energy’s Future –More Oil?

Several states have begun to offer EV incentives of their own. According to Route-Fifty, Washington is high on this list. “The new $45 million rebate program that Inslee and other state officials unveiled Tuesday is the latest of several state-level incentive programs that can be combined with new federal EV purchasing incentives to take the sticker shock out of going electric.” Based on the state’s modest car registration of 2.9 million, the $45 million could have an impact. 

High Gas Prices

Washington also tends to be among the states with the most expensive gas. It is behind only California and Hawaii and has an average price of a gallon of regular gas of $4.67, compared to the national figure of $3.60.

Route Fifty adds, “Many states—including California, Colorado, Delaware, Illinois, Maine, Maryland, Massachusetts and New York—have offered or currently offer rebates for EV purchases or leases.”  Given the population of these states, these programs could be available to millions of drivers.

These programs will not solve the problems of charging times, range, and high new EV prices. However, without them, the EV sector may take longer to recover.

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