$5K incentive to purchase EVs on P.E.I. now live, retroactive to April 1
Minister Myers made the announcement in the legislature, calling it the 'most generous' in Canada
The incentive for buying new or used electric vehicles on P.E.I. is now live, meaning Islanders are eligible for up to $5,000 in rebates for EVs purchased on or after April 1.
Environment, Energy and Climate Action Minister Steven Myers made the announcement in the P.E.I. Legislature on Thursday, saying it's the "most generous" offer in Canada.
Any bill of sale on an eligible electric vehicle, plug-in hybrid, or fully electric vehicle dated April 1 or later will be paid out and offers $5,000 to Islanders who purchase both new and used EVs and $2,500 to buy plug-in hybrids.
"As the member from Summerside-South Drive brought to my attention, even a $5,000 car qualifies for a $5,000 rebate," Myers said.
Myers said government planned on releasing the start date of what they're calling the Universal Electric Vehicle Incentive sooner, but the provincial budget is still being debated. Special permission from the Island's Treasury Board was needed to offer the incentive sooner, he said.
Incentives will be applied directly on the bill of sale or lease agreement, a release said. Dealerships will soon be able to submit their forms through the provincial website to receive compensation.
Islanders who purchase an EV can expect to receive their free Level 2 charger in the coming weeks, the release added.
Steve Howard, MLA for Summerside-South Drive, said there was "nothing but good news in that announcement."
Interim Liberal Leader Sonny Gallant said the program provides an "effective, up-front incentive of $5,000 for Islanders and that's great. We certainly appreciate this announcement."
Gallant did ask whether local dealers could keep up with demand.
"There may be improvements to make down the road, but it's a great first start," he said.