With limited funds, state to open new round of $4,000 EV rebates
If you've been thinking about swapping out your gasoline car and going electric, a third cycle of the state's $4,000 electric vehicle rebate program will begin Nov. 1 and continue to Jan. 31.
The program is available to residents who apply during the rebate cycle window and within 90 days of the purchase of an electric vehicle - new or used - from an Illinois licensed dealer. Electric motorcycle purchases are also eligible for a smaller rebate of $1,500. The program does not apply to hybrid plug-ins.
"Due to substantial interest in the program, Illinois EPA anticipates the available funds being depleted in advance of the close of the application window on Jan. 31, 2024," according to the agency's website. "We encourage interested purchasers to submit applications as soon as possible to increase your chances of receiving a rebate."
Offered by the Illinois Environmental Protection Agency, the program was created under the state's extensive clean energy legislation that became law in 2021. The bill set a goal of having one million registered EVs in the state by 2030. As of Oct. 15, a total of 85,870 EVs were registered in Illinois, according to the Illinois Secretary of State's Office website, which releases monthly EV counts by county.
Following the two previous funding cycles of the rebate program, IEPA issued 4,872 rebates totaling $19,462,187. In the first round, which ended Sept. 30, 2022, a total of 2,968 applications were received and were paid, totaling $8,932,687. In the second round, which ended Jan. 31, 2023, a total of 4,701 applications were received, and 2,633 applications were paid, totaling $10,529,500. That round was "oversubscribed with funds being exhausted before the end of the funding cycle," IEPA Public Information Officer Kim Biggs said in an email.
Funding amounts for this round will be determined by the amount of money available in the Electric Vehicle Rebate Fund, which is not to exceed the $12 million the agency was allocated by the state for this fiscal year.
The application and instructions are currently available on the IEPA Electric Vehicle Rebate website - though applications will not be accepted if postmarked prior to Nov. 1. Applications must be printed and mailed to the agency, along with the required documents.
The application covers personal, vehicle and dealership information. Documentation requirements include four main components: copy of purchase invoice, proof of purchase, vehicle registration and IRS W-9 or W-8 forms.
By law, low-income applicants are given priority for rebates, meaning people and families whose income does not exceed 80% of the state median income as established by the United States Department of Health and Human Services. A table defining "low income" is included in the application instructions.
The agency has additional information at tinyurl.com/ILRebateFAQ.
• Jenny Whidden, jwhidden@dailyherald.com, is a climate change and environment writer working with the Daily Herald through a partnership with Report For America supported by The Nature Conservancy. To help support her work with a tax-deductible donation, see dailyherald.com/rfa.