Almost six months after Ontarians said good-bye to our green vehicle rebate, it's officially back and this time available for all Canadians. The Canadian Government's new iZEV Program is giving Canadian up to $5000 to buy electric vehicles in an effort to fight climate change.
The iZEV program kicks off today, May 1, 2019. Similar to the program that the Ontario Government scrapped back in August, this new incentive from the Federal government will give Canadians a rebate if they buy or even lease a new zero-emission vehicle, helping to make them more affordable since hybrid and electric cars tend to come at a higher price than gas models.
On their website, the Canadian Government says, "transportation is the second largest source of greenhouse gas (GHG) emissions in Canada. This accounts for a quarter of Canada's total GHG emissions and almost half of those emissions come from cars and light trucks." They continue, saying "one way that we can reduce the amount of transportation-related GHG emissions is to get more zero-emission vehicles (ZEVs) on the road."
Now, the government has revealed more details on their incentive that aims to do just that, including exactly how much money Canadians can get back and the types of cars that qualify.
Depending on the model of car, Canadians can get up either $2500 or $5000 if they buy or take on a 48-month lease of an eligible zero-emissions vehicle. Shorter lease times will result in smaller incentive amounts. In order to be eligible, they must also be brand new cars since pre-owned vehicles will not qualify for the rebate.
The government released a full list of the qualifying cars today. They include the 2019 Chevrolet Volt, the 2019 Hyundai Kona Electric, the 2018 or 2019 Nissan Leaf, and the 2019 Toyota Prius Prime, among others.
One of the makes of vehicles notably missing from the list, however, is Tesla. Much to the disappointment of Canadians, which has been expressed online today, Tesla doesn't make the list of eligible cars since the base model manufacturers suggested retail price (MSRP) is more than $45,000.
Another detail recently revealed about the iZEV Program is that Canadians are only allowed to receive the rebate for one zero, emission model per year, while businesses and provincial or municipal governments are eligible to can claim it for up to 10 vehicles per year.
Speaking of the provinces, the iZEV rebate will, fortunately, stack on top of existing provincial rebates. For example, in BC they have incentives of up to $5000 for electric-vehicles so someone out there could get up to $10,000 towards a new zero-emission vehicle after May 1.
In Quebec, the total rebate amount would be even more since they offer rebates of up to $8000 for electric vehicles. With the new iZEV incentive, someone in Quebec could get up to $13,000 for buying an eligible zero-emissions vehicle.
In order to qualify for this rebate, Canadians have to buy a new, eligible zero-emission vehicle from a licensed dealer within Canada, on or after May 1, 2019. Any vehicles bought before today are not eligible.