WA launches $45M program to make EVs more affordable

OLYMPIA, Wash. - A new $45 million state program aimed at making electric vehicles (EVs) more affordable was unveiled today by Washington state leaders.

The program aims to make EVs more accessible for lower-income families through rebates and incentives, especially as Washington plans to phase out gas-powered cars by 2035.

"Washington state is already a leader in EV adoption, but many more people interested in ditching the gas pump may think they can’t afford to do it," said Gov. Inslee. "With these new rebates, we're significantly lowering the entry point, opening the door to EVs for people of modest incomes as we continue paving the way to a clean transportation future for all."

The program is slated to launch in Aug. 2024.

"Transportation is the biggest contributor to greenhouse gas emissions and harmful air pollution," said Commerce Director Mike Fong. "It is important that people who live in our most-impacted communities, which tend to be urban and lower-income, have access to cleaner transportation options, including the choice of EV ownership. These rebates can help many more people all across the state buy or lease an EV."

The program prioritizes affordability and will be the first statewide initiative to include low-cost leases as an incentive option. It extends eligibility to residents earning up to $45,180 for an individual or $93,600 for a family of four. The rebates offer up to $9,000 for new EV leases of three years or more, up to $5,000 for new EV purchases or two-year leases, and $2,500 for used EVs.

Consumers interested in benefitting from the program can visit a dealer to learn about the low-cost lease offers. Dealers will confirm the buyer's income and credit score eligibility, then apply the instant rebate directly to the lease cost. The state also exempts these vehicles from sales tax under the zero-emission vehicles provision on lease payments up to $15,000.

Leaders promise that it’s a good bargain for the automakers and dealerships, too.

Participating dealers can receive incentives for promoting EV adoption, and the program will also offer education on EV charging through consumer outreach initiatives.

Easing the climate burden

The program is forecast to reduce CO2 emissions in the transportation sector by approximately 24,000 metric tons. It is part of a broader strategy including over $120 million in transportation electrification investments and nearly 5,000 new charging stations.

"We're taking action in King County — and across Washington state — to cut greenhouse gas emissions. Thanks to critical funding from the Department of Commerce we can work to expand EV charging access countywide," said King County Executive Dow Constantine.

As Washington state continues to lead the way in environmental initiatives, the roll-out of this new rebate program aims to accelerate the transition to electric vehicles, leading to a cleaner and healthier future for all residents.