Oregon is suspending a program that gives rebates to purchasers and leasers of electric vehicles for a year as the popular program is running out of money.
A program in Oregon giving rebates for buying or leasing electric vehicles has become a victim of its success.
The state has temporarily suspended rebates for a year starting in May because too many people are applying, and the program is running out of money, according to a report by The Oregonian/OregonLive.In over five years, the Clean Vehicle Rebate Program has disbursed more than $71 million to help people buy or lease roughly 25,000 of those vehicles.
A car is parked by an electric charging station in downtown Portland, Oregon, March 31, 2011. Oregon will temporarily suspend rebates for buying or leasing an electric vehicle for a year starting in May.electric vehicles or plug-in hybridsThe standard rebate of up to $2,500 is available regardless of income and can be received at participating dealers.
The "charge ahead" rebate of $5,000 is aimed at low or moderate income households and must be accessed via a mail-in application. The two rebates can be combined for up to $7,500 cashback. A line of electric cars and newly installed charging stations sit in front of the Portland General Electric headquarters building on July 28, 2015, in Portland, Oregon.
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