It's offering crazy incentives.
The EV revolution is upon us, and with most manufacturers planning a complete shift to electric vehicles in the next 10 to 15 years, the general public will have to start getting used to the idea of saying goodbye to their ICE machines and hello to silent green transport. The US federal government has been pushing billions into the EV industry, and cheaper electric cars are becoming more widespread. EVs such as the Nissan Leaf cost less than $30,000, and if you're from New Jersey, we've got some seriously good news: the state offers its residents incentives of up to $4,000 to purchase electric, or plug-in hybrid vehicles, including a further $250 for the installation of a home charging system.
America has had a hot or cold relationship with EV incentives over the years. The White House has offered incentives of up to $7,500 tax credits towards the purchase of EVs, but has threatened to renege on that offer, despite the fact that it could save the government up to $2.5 billion a year. Automakers have been calling for the government to stick to this support structure, as it would make this mass transition easier on regular folks.
New Jersey clearly understands this concept, as Governor Phil Murphy announced the launch of the Charge Up New Jersey electric vehicle incentive program's third year on Monday. According to Murphy, this incentive program has put more than 13,000 electric vehicles on New Jersey roads. New Jersey is also historically significant in the history of the EV. Back in the day, Thomas Edison built one of the first electric vehicles in Menlo Park. "Ford's internal combustion engine has had a good run over the last century, but Edison's ideas are now eclipsing it," Murphy noted.
New Jersey's incentive program offers up to $4,000 for vehicles priced under $45,000, and $2,000 for vehicles priced between $45,0000 and $50,000. This incentive is crucial to New Jersey's plan to go 100 percent green by 2050. According to the New Jersey local government, transportation accounts for nearly half of the state's greenhouse emissions. The incentive program will provide at least $30 million for the next 20 years, and the New Jersey Board of Public Utilities has further allocated $5.5 million for residential charging programs, $35 million for Charge Up, $10 million in incentives for government fleets, $6 million for chargers at tourist sites, and $4 million for charging spots in communal living spaces.