In the article “California First-Time EV Rebate Promises $3,500 Off, Waits on CARB to Name Which Cars Qualify,” Tech Times reports on California’s new MyFirstEV program, which offers first-time electric vehicle (EV) buyers a $3,500 rebate, and its current obstacles in increasing EV sales. The author cited the study led by GW Engineering researchers titled “Not all subsidies are equal: measuring preferences for electric vehicle financial incentives” to showcase how research has validated the structural advantage of this point-of-sale rebate over the federal government’s tax credit design.
Here is an excerpt from the article: “The researchers estimated that by delivering federal EV subsidies as tax credits rather than immediate rebates between 2011 and 2019, the government delivered $2.07 billion less in effective consumer value than the same dollar amount would have generated as instant rebates.”
Read the full article on Tech Times.