Prince Edward Island EV rebate program goes live, retroactive to April 1

Prince Edward Island’s electric vehicle (EV) rebate program has officially started, giving Islanders up to $5,000 off the purchase of a new or used EV.

First announced earlier this year in the government’s 2021-2022 provincial budget, $500,000 is being allocated to offer what officials are saying is the most generous rebate program in Canada.

Called the Universal Electric Vehicle Incentive, the rebate will apply at the point of sale, but is retroactive to April 1, 2021. The program will provide $5,000 off a new or used EV or $2,500 off a plug-in hybrid.

In addition, there are no price limits on the PEI EV incentive and buyers will receive a free level 2 EV charger.

Combined with the federal iZEV incentive, Islanders can get $10,000 off a new EV. The only catch is the vehicle must be purchased from a local dealership, meaning only used Tesla purchases qualify.

In an interview with Drive Tesla last month, Jill Edwards from the Department of Environment, Energy and Climate Action said they fully intend to include Tesla, and any other automaker that does not have a local dealership, but the government wanted to support local dealerships first. She hopes this will happen within the next 12 months.

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