Please ensure Javascript is enabled for purposes of website accessibility Pennsylvania programs help more affluent buy electric, alternative fuel vehicles - The Printed Parade

Pennsylvania programs help more affluent buy electric, alternative fuel vehicles

Pennsylvania programs give taxpayer dollars to the state’s more affluent residents so they can buy a government-preferred electric vehicle.

Pennsylvania gives up to $1,000 to people eligible to buy an electric vehicle. In 2021, the program issued 1,352 rebates to Pennsylvania residents, said Jamar Thrasher, a spokesman for the Pennsylvania Department of Environmental Protection.

In fiscal year 2021, the most popular subsidized vehicle in the state was the Tesla Model 3, which accounted for 22% of all rebates by model, according to a report from the state’s Department of Environmental Protection.

From 2011 to 2020, the Alternative Fuels Incentive Grant Program provided more than $14.1 million in rebate funds to 8,855 Pennsylvanians to buy alternative fuel vehicles. The other rebate program, the Alternative Fuel Vehicle Rebate Program, was expected to hand out $1.5 million in 2021 to encourage state residents to buy alternative fuel vehicles, according to a state report.

Studies show that those most likely to buy an electric vehicle already own one and have an annual median household income of $95,000. According to BlastPoint, a data analytics company out of Pennsylvania, about 25% of likely buyers of electric vehicles have an annual household income above $150,000 a year. Buyers also are more likely to have graduate degrees.

The median household income in Pennsylvania was $63,627 in 2020 dollars, according to the U.S. Census Bureau.

The top two electric vehicles sold in 2021 were the Tesla Y and the Tesla 3, Car and Driver magazine reported. The starting price for a Tesla Y is $64,990, with fully-loaded options costing more than $80,000, according to Kelley Blue Book, a vehicle valuation company. The starting price for a Tesla 3 is $48,490, according to KBB.

The AFIG and AFV Rebate programs were designed to decrease Pennsylvania’s dependence on imported oil and improve air quality by reducing vehicle emissions.

This article was originally posted on Pennsylvania programs help more affluent buy electric, alternative fuel vehicles

Leave a Reply

Your email address will not be published.