Car Industry

New York state announces a new $2,000 rebate to get more EVs on the road

Anybody buying a new electric car in New York state can now look forward to an extra $2,000 Drive Clean Rebate -- assuming they choose the right car.

If you live in New York and you've been contemplating putting something a little more electric in your driveway, now might be the time. Gov. Andrew Cuomo has just announced a new incentive for the purchase of any new electric vehicle in New York state: a $2,000 tax rebate that might just push that Chevy Bolt EV a little closer to your budget threshold.

The so-called Drive Clean Rebate sits on top of the current $7,500 federal tax rebate on the purchase of EVs. With this, New York joins California, Colorado, Massachusetts and others with local incentives for EV purchases. While New York's isn't quite as generous as Colorado's, where residents get a flat $5,000 back, it's certainly a nice chunk of change and more money than many other states.

That said, you may not get the full $2,000 unless you buy an EV with big range. Your car will need to run emissions-free for 120 miles or more to get the full $2,000 rebate. Cars that can do between 20 and 39 miles on a charge, which covers most plug-in hybrids, will earn you only $1,100 off. Additionally, EVs priced at greater than $60,000 will receive only a $500 discount. That last bit won't be good news for potential Tesla owners -- at least, not until the Model 3 rolls around.

This is part of a $70 million plan designed to cut overall carbon emissions in New York state. Of that, $55 million will go to covering these rebates. The other $15 million will go toward providing more charging stations and raising general awareness of EVs. The overall goal is to reduce greenhouse gas emissions by 40 percent by the year 2030.

Full details on the Drive Clean Rebate, including which models are eligible for which tiers, can be found at the NYSERDA website. The New York State Energy Research and Development Authority page states this goes into effect immediately, so don't waste any time getting down to your local dealership before they jack up their prices to compensate.