Buying an electric vehicle is not only better for the environment, but it’s estimated that it could save you around $140 per month on vehicle-related expenses. Because of these benefits, both the federal government and some provinces offer Canada EV incentives to get more electric vehicles on the road.
The federal government offers Canada EV incentives across the country to help reduce the cost of purchasing an electric vehicle through the iZEV Incentive Program. It applies to the initial purchase or lease of any new zero-emissions vehicle (ZEV), including battery-electric vehicles (BEVs), plug-in hybrid vehicles (PHEVs) and hydrogen fuel cell vehicles (FCVs).
The Canadian federal government’s EV incentives program offers up to $5,000 for the first registered owner of a battery-electric, hydrogen fuel cell, and longer range plug-in hybrid vehicles. Shorter range plug-in hybrid electric vehicles are eligible for an incentive of $2,500.
According to the Canadian federal government, long range ZEVs have a battery capacity of at least 15 kWh and can accommodate a trip of 50 kilometres or more on a single charge. Short range ZEVs have a lower battery capacity than that.
In order for a vehicle to be eligible for Canada EV incentives at the federal level, it needs to meet a few basic requirements depending on its size.
More and more provinces are offering EV incentives across Canada. Many of these provincial programs can also be combined with the federal iZEV Incentive Program to maximize the possible savings when it comes time to buy your electric vehicle.
EV incentives in BC are offered based on the type of electric vehicle you’re buying:
You can also get various rebates to install charging stations in BC:
New Brunswick offers a number of EV incentives for the purchase or lease of used or new electric vehicles and on home charging stations:
The Nova Scotia Electrify program works very similarly to the federal iZEV Incentive Program. Both new and used electric vehicles are eligible with MSRPs up to $60,000 and $55,000 respectively, depending on the type of vehicle.
While the Ontario provincial government does not offer EV incentives, you can still get a $1,000 rebate through the Plug’n Drive Used Electric Vehicles program. In order to be eligible you’ll have to first attend a free Used EV Seminar and then send your proof of purchase to Plug’n Drive once you’ve bought your used electric vehicle.
As part of the Scrappage Incentive program from Plug’n Drive, Ontarians can also recycle your old gas car when you buy an electric one, and get another $1,000 incentive.
The EV incentives offered in PEI are some of the most generous in Canada.
EV incentives in Quebec are available as rebates when you purchase a new or used electric vehicle:
Keep in mind that the Canada EV incentives and rebates listed above may change depending on program availability. The federal program will provide $300 million towards these credits until December 31st, 2023 and the program is offered on a first-come, first-served basis. Provincial-based incentives are constantly being revised based on available funding and program duration.
How much will you actually save with an electric car?
Canada EV incentives are just one way to make reducing your carbon footprint affordable. You can also look into financing options for electric vehicles. Take a step towards clean energy with one of the Canadian car loan providers in the table below who all offer financing for electric vehicles.
Canada EV incentives for a electric cars can help reduce the overall cost of going green. But before you commit to your next ride, read our guide to buying green cars and learn more about car loans to make sure you can afford the switch.
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