Also known as electric vehicles or EVs, electric cars are quickly gaining traction as the preferred transportation source in the 2020s. With dozens of countries pledging to extend tax cuts or incentives to electric vehicle companies and buyers of electric cars, the future looks bright for these zero-emission vehicles.
If you're an Ontario resident searching for ways to cash in on the Ontario electric car rebate, here are a few ways to take advantage of government incentives.
As one of the more progressive nations in the world, Canada remains at the forefront of the push for electric cars. A Canadian government initiative through Transport Canada laid out the following plans starting in 2020:
However, the lapse in many provincial electric car incentive plans has caused this initiative to lag behind. According to a recent analysis, only 4% to 6% of cars will be electric by 2025 and just 10% by 2030. This means that gas cars will remain the most popular form of road transit in Canada for the foreseeable future.
Nevertheless, many automakers, such as Ford, Toyota, Kia, Volkswagen, GM, Hyundai, and Tesla continue to churn out more affordable EV options to attract car buyers. In addition, many of these cars now have features, options, and horsepower that rivals gas-powered vehicles.
On May 1, 2019, Transport Canada began its Incentives for Zero-Emission Vehicles or IZEV program. This program, also known as ZEV, provides a federal rebate on point-of-sale purchases for electric cars, including cars bought online or in-person.
The reasoning behind this incentive is not only to push consumers toward electric cars but also to lessen the impact of climate change and lower transportation emissions, which are the second-leading cause of greenhouse gas emissions throughout Canada.
While you get the federal rebate for new cars, keep in mind that the electric car incentive is built into the price of the vehicle. That means you may see the rebate amount on your actual invoice, rather than a post-purchase tax credit or something similar.
The ZEV program provides two types of incentive programs:
Other eligibility requirements for an incentive are based on the price and passenger capacity of the vehicle:
Other than the topics listed above, the federal rebate program also offers a number of other features. These include:
One of the major hurdles of incentivizing the purchase of electric cars is the availability of charging stations around the country. While cities such as Montreal, Toronto, and Vancouver have between 500 and 1,200 chargers throughout each respective city, other major metropolitan areas still lag far behind.
However, Transport Canada has pledged millions of dollars to the construction of charging stations. In particular, the department wants to expand the network of fast-charging stations along the Trans-Canada Highway to enable Canadians to travel farther and take longer road trips. Currently, the main thoroughfare has 51 stations, but this number should improve with more aid from the federal government and expansion from private charging station companies.
If you're an Ontario resident who wants to take advantage of incentives and rebate programs on electric cars, you may have to wait until the government brings the program back. In June 2018, Premier Doug Ford canceled a $14,000 provincial rebate on electric vehicle purchases, stating that it only benefited the wealthy. Following this decision, many other provinces followed suit.
It’s worth noting there is one non-financial incentive in Ontario, which is that you get access to carpool lanes even if you're only one person in the vehicle (Green Plate required).
Today, only two provinces offer electric car rebates: Quebec and British Columbia.
The Quebec government offers impressive incentives and a reduction in pricing for both new electric vehicles and used electric vehicles. Unfortunately, the government abolished rebates on non-rechargeable vehicles, but the rebate program remains in place for PHEVs and BAVs. This includes the following rebates (with the federal rebate program factored in):
In addition, this rebate isn't just for individuals. It also includes businesses and municipalities.
The British Columbia government also offers similar incentive programs to Quebec, providing sizable discounts to purchasers of both new and electric vehicles. This includes the following rebates (including the federal rebate incentive):
Like Quebec, these rebates are open to municipalities, as well as individuals and businesses.
Even though the Ontario electric car rebate is gone, don't let that deter you from reducing your carbon footprint. With impressive overall ranges, zero emissions, and many of the features you'll find on gas-powered vehicles, an electric car is still a valuable and savvy purchase, even in the used market.
Thanks to Clutch’s 210-point inspection, 90-day, 6,000-km warranty, and a 7-day money-back guarantee, you'll get peace of mind, even if the vehicle is your first electric car. And that's how you'll lend a hand in saving the planet: zero emissions, one kilometer at a time.