Beginning this spring, the Government of Prince Edward Island will offer the most generous electric vehicle (EV) incentive in Canada by providing $5,000 to Islanders who purchase a new or used EV.
Government will also offer a free Level 2 charger to people who purchase an EV and $2,500 to those who buy a plug-in hybrid. Islanders will be responsible for all installation costs associated with charging infrastructure.
“We know that one of the main hurdles for Islanders to switch to an electric vehicle is the high cost. With that in mind, we are launching an EV incentive in an effort to increase uptake and in return, reduce greenhouse gas emissions from our transportation sector – which represents nearly half of overall provincial emissions. This will help us get closer to our goal of Net Zero by 2040.”
Incentives will be administered at the point-of-sale, applied directly on the bill of sale or lease agreement. Dealerships will be responsible for completing the documentation required to receive the rebate and submit all forms to Access PEI. Vehicles must be purchased from an Island dealership to be eligible. Islanders who buy a new, fully electric vehicle may be eligible for up to $10,000 off the purchase price with the Federal Government rebate of $5,000 and the PEI Universal EV Incentive combined.
Prince Edward Island will be the fourth province in Canada to offer an EV incentive along with British Columbia, Quebec, and Nova Scotia.