New Jersey will spend millions of dollars to get people to ditch gas stations. Then purchase all-electric vehicles to fight climate change, Gov. Phil Murphy announced Monday.
It includes a payment of up to $4,000 to reduce the price of an electric vehicle. In addition to $250 to help pay for a charging station at their homes. Another $4 million will go towards giving incentives for apartment buildings and condominiums. To further install charging stations for their residents to use.
Murphy said the $60 million for the incentive program will come from this year’s Clean Energy Fund.
“There is no doubt that the tide has turned and electric vehicles are now a legitimate alternative, equal to their internal-combustion competitors in price if not superior in performance,” the Democratic governor said during an event in Asbury Park.
He added: “As the prices of EVs continue to fall more and more in line with gas-powered cars. Especially in the all-important and growing mid-price category. We know this incentive can push more buyers to make the decision to go electric.”
The state is willing to chip in up to $4,000 for vehicles under $45,000. Further, up to $2,000 for vehicles priced between $45,000 and $50,000, Murphy’s office said.
Incentives start July 25 and are applied during the sales process. It is limited to New Jersey residents.
It’s the third year of his administration’s “Charge Up New Jersey program. State incentives for electric vehicles sold over 13,000 cars in the first two years.
The state will also spend $4 million to give incentives for local governments to buy electric vehicles, Murphy said. His administration is setting aside $30 million to buy EVs.
The state has about 65,000 registered electric vehicles, Murphy reported.
“By the close of last year, roughly 5 percent of all new vehicle sales nationwide were EVs. In order to grow that share. We would like to get more New Jerseyans into their first electric vehicle,”
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