Washington State EV Incentives 2024: What is the Refund Amount?

The state last week unveiled a program offering immediate rebates to low-income people and households that want to lease electric cars. According to the Washington State Department of Commerce, the $45 million initiative is the first of its type in any U.S. state when it launches in August.

EV Instant Refund Amounts

For two-year leases, the refunds can reach $5,000; for three-year or longer leases, they can reach $9,000 in rebates. The program also applies to used EVs, albeit the maximum refund is $2,500.

About the Washington EV incentive program

August marks the program’s commencement, and it is anticipated to last until June 2025, or until financing runs out. Commerce anticipates issuing six thousand to eight thousand reimbursements. This offer is valid for cars that cost $90,000 or less.

Washington State EV Incentives 2024
Source: Automotive News

It looks that this scheme is the first in the country to offer rebate incentives for affordable leases rather than sales. In addition, low-income and non-urban people can receive a tax credit from the federal government of up to $1,000 for the installation of charging infrastructure.

Eligibility Criteria for this program

If a single person in Washington makes up to $45,180 per year or a family of four makes up to $93,600, they may be eligible for a refund of up to $9,000 if they lease new electric vehicles for three years or longer.

Additionally, they can qualify for a $5,000 grant toward the purchase or a two-year lease on a new electric vehicle. Used electric car leases and purchases are eligible for a $2,500 bonus.

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