Prince Edward Island EV rebate program proves popular as it burns through nearly half of its funds in just two months

Prince Edward Island (PEI) announced a new electric vehicle (EV) rebate program in the their 2021-2022 provincial budget earlier this year.

Called the Universal Electric Vehicle Incentive, the government set aside $500,000 to offer what officials are said was the most generous rebate program in Canada. Not only did the rebate apply to new EVs and hybrids with no price limit, buyers also receive a free level 2 home charger.

The program officially kicked off in late April, but was retroactive to April 1, 2021. In the less than two months since then, the fund’s account has already been drained by almost half its original amount.

According to PEI Environment Minister Steven Myers, about 40 buyers having taking advantage of the rebate. That leaves enough funds for about another 60 rebates.

Islanders don’t have to worry about the program running out of money. Myers told CBC News he plans to ask for more to help reach the province’s goal of having an EV in every PEI driveway by 2030.

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