New Jersey’s state EV rebate program is already running out of funding due to high demand, the Associated Press reported.
The state’s Board of Public Utilities said the Charge Up New Jersey program has handed out $35 million for the fiscal year that ends in July, and enough applications have already been received for the rest of this year’s funds, the program is being paused until the next year begins July 1.
The Charge Up New Jersey program gives state residents $4,000 when they buy or lease a new EV, which can be stacked with federal incentives.
The utilities board said the program has helped state residents purchase or lease more than 10,000 EVs this fiscal year, and a total of 25,000 EVs since it was implemented in May 2020.
