New Jersey’s electric vehicle rebate program is issuing a temporary pause due to the volume of people applying for the program, ABC News reports.
Launched in May 2020, Charge Up New Jersey is in its third year and offers a $4,000 rebate for New Jersey residents that buy or lease a new EV. The program will be put on hold for the end of the fiscal year as reserved funding is disbursed, which is “based on current rate of application approvals and eligible vehicle orders.”
The program is planned to resume when the new fiscal year kicks off on July 1. The state’s Board of Public Utilities has reportedly predicted that the program will encourage “the purchase or lease of more than 10,000 vehicles this fiscal year.” Board spokesperson Peter Peretzman has said it’s uncertain if the program’s funds will be increased for the next fiscal year.
The utility board has said it’s estimated that “more than $90 million in incentives for leasing or buying nearly 25,000 EVs” have been disbursed through the program. EVs made up 8% of all new car sales in New Jersey last year, and as of the end of 2022, more than 91,000 EVs populate the state.
