California’s electric-car rebate program, which has helped put thousands of Teslas, Nissan Leafs and Chevrolet Volts on the road, is running out of money.
In the state budget passed earlier this month, Gov. Jerry Brown and lawmakers eliminated $500 million originally proposed for the subsidy program and other low-emissions initiatives – the result of a political impasse.
Without the funds, the electric-car subsidy, which has helped Californians purchase 150,000 low- and zero-emission cars since 2009, has hit a roadblock. Thousands of consumers applying for the incentive each month now are pushed to a waiting list.
Unlike most budget cuts, the decision to slash funding isn’t due to a lack of money.
Instead, the decision springs from concerns over the long-term viability of the state’s cap-and-trade program, a major source of funding in California’s efforts to combat climate change.
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