Tennessee plug-in car buyers can get them while they are hot as the state has set up a $0.7 million fund to subsidize plug-in car purchases or leases with $1,500-$2,500 each on a first-come, first-served basis.
This news came this last week on the two-tiered rebate program offered by the Tennessee Department of Environment and Conservation’s Office of Energy Programs.
The rebates will be made available and continue until allotted funds of $682,500 have been depleted.
Tennessee’s program will rebate $2,500 on battery electric cars and $1,500 on plug-in hybrids that have been sold or leased (with a three year minimum lease term) to a Tennessee resident from a Tennessee dealership after the start date of June 15, 2015.
After the funds are received from the state, it will be up to the dealerships to prove the rebate to consumers according to WATE.com.
The number of vehicles sold and duration of the program are in question. Assuming the fund is not replenished, as one hypothetical, if 100-percent of all buyers took the maximum $2,500 that would equate to just 273 all-electric cars sold.
Obviously the breakout will be random between PHEVs and EVs and the state is otherwise holding out the stimulus as a perk for its residents while it lasts.
“This rebate program is a way to assist consumers making environmentally conscious transportation decisions,” said TDEC Commissioner Bob Martineau.
Here are the vehicles eligible for Tennessee’s rebate program:
Battery electric vehicles (BEV) $2,500 Rebate
- BMW i3 or i3 Rex
- Chevrolet Spark EV
- Fiat 500e
- Ford Focus Electric
- Honda Fit EV
- Mercedes-Benz B-Class Electric Drive
- Mitsubishi i-MiEV
- Nissan LEAF
- smartED and Electric Fortwo
- Tesla Model S
- Toyota RAV4 EV
- Volkswagen e-Golf
Plug-in hybrid electric vehicles (PHEV) $1,500 Rebate
- BMW i8
- Cadillac ELR
- Chevrolet Volt
- Ford CMAX Energi
- Ford Fusion Energi
- Honda Accord Plug-in
- Porsche 918 Spyder
- Porsche Cayenne S E-Hybrid
- Porsche Panamera S E-Hybrid
- Toyota Prius Plug-in Hybrid