Each day residents in BC are surrounded by news and information regarding climate change and the many implications associated with that environmental trend. Many homeowners have tried to do their part by reducing their carbon footprint and energy consumption at home. Adding solar panels, high-efficiency appliances and even energy-saving light bulbs to any property is a good way to reduce energy consumption at home. Consequently, the less energy a household uses, the less money they will spend on electricity each year. What if you decide to get an electric car though? Will the energy used to charge the vehicle each day offset any savings? To help you understand the associated costs of electric cars and the savings you can still keep through federal and provincial rebates, take a look at the brief guide below.
Understand the Cost and Saving For Your Electric Cars in 2020
Electric-powered vehicles are becoming more and more common on BC roads, as well as roads around the world thanks to the increased awareness of the negative environmental impact of combustion engines and fossil fuels. In light of this, governments including Canada’s federal and provincial bodies, are looking for ways to provide incentives for consumers to make the switch to an electric vehicle. While some people may not see these rebates as incentive enough to “go green” with their next vehicle purchase, there are plenty who see merit in saving energy and some cash over time.
Electric Car Rebates in Canada
Canada’s federal and provincial governments are continuously adding improved rebates and incentives for electric car purchases in each annual budget. As of last year, the federal government made a $300 million pledge to encourage Canadians to make their next vehicle a zero-emission vehicle through rebates. For those who do choose to go with a new zero-emission vehicle (battery/electric vehicle or plug-in hybrid), they can expect to receive up to $5000 in rebates. The more efficient the electric vehicle happens to be in terms of how little carbon emissions it produces, the more money a driver can expect to receive when they apply for a rebate.
Electric Car Rebates in BC
Electric vehicle owners can also gain some incentives and rebates from the province they live in as well. Compared to the rest of the country, BC offers some of the most lucrative rebates for electric vehicles. Just like federal electric car rebates, the BC electric car rebates in 2020 vary based on certain factors. In addition to the rebates you can get for buying a new electric vehicle, residents of BC can also receive a credit of up to $6000 for trading in an older fossil fuel burning vehicle. Add that to the $3000 you can potentially receive with your new electric vehicle purchase, and you can stand to earn a significant amount in rebates when you make the switch.
For more info on Canada and BC’s electric vehicle rebates, be sure to visit the government websites, or BC Hydro Site, contact a local electric vehicle dealer to hear the latest incentives for the coming year.
If you need EV charger installation at your home in the Greater Vancouver area, please contact BPM Electric for information.