Oregon’s super popular EV rebate that ran out of money is making a comeback

Oregon’s super popular EV rebate program that ran out of money due to so many people applying for it is making a comeback after being suspended.

Last year, we reported on the program, which was favorable for a number of reasons, including the fact that it brought Tesla Model 3 sedans down to prices under $30,000.

However, the program was put on pause in May due to overwhelming demand. It received roughly $12 million in funding for the year, but the program ran out of funding because so many people applied for it.

Tesla Model 3 can be acquired for less than $27,000 in Oregon: estimate

The program is set to make a comeback, according to Erica Timm, the coordinator, who spoke to OPB.

“We anticipate reopening the program in Spring 2024, and we hope to announce those 2024 open dates very soon,” Timm said.

Oregon’s dedicated EV credit program could be stacked with the federal $7,500 credit, meaning there was immediately a $15,000 discount on qualifying EVs.

However, there were a few other discounts that local residents could also take advantage of.

One of which was a $5,000 credit for low and moderate-income residents. On top of that, $2,500 could be given to local residents.

Oregon is using the program as one way to expand EV ownership in the state as it plans to ban the sale of new gas-powered sales by 2035.

A study from Fox Business expects 1.5 million people to be driving EVs in the state by 2035.

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