Southern California Edison is offering people who drive a plug-in or electric car a one-time cash rebate of $450. What makes it different from other EV rebate programs is that it applies to second and third owners and those who lease cars as well. Typically, an EV rebate like the federal tax credit only helps new-car buyers. If someone leases a new EV, those rebates go to the leasing company (which is often a division of the manufacturer). Although that may help lower the customer’s lease payment, it puts no cash in the driver’s pocket.
“We hope that making second and third car owners eligible for a rebate will help stimulate the market for used electric vehicles,” said Laura Renger, SCE principal manager for Air and Climate Policy. “Not only will customers get a payment, they will also save because electricity is a low-cost fuel. Average fuel costs for an electric vehicle are 50 percent less than a car that runs on gasoline.”