New Jersey is giving away more money for EVs

💰 NJ is offering thousands in rebates to buy lower prices electric vehicles

💲 Incentives are also being offered for businesses to buy fleet vehicles

🚙 The state is in year four of a 10-year incentive plan

New Jersey is offering new incentives for residents and businesses to purchase electric powered vehicles and install publicly accessible charging stations.

Gov. Phil Murphy and the New Jersey Board of Public Utilities announced $4,000 rebates for EVs with a Manufacturer's Suggested Retail Price (MSRP) under $45,000 and incentives of up to $1,500 for vehicles with an MSRP between $45,001 and $55,000.

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"As we enter Year Four of Charge Up New Jersey, we will continue to establish EVs as an affordable and accessible option for all residents, regardless of their income or zip code," Murphy said in a statement.

In 2022, the state started offering incentives on lower prices EVs in an effort to get more moderate-income residents to buy them.

The Department of Environmental Protection reports there were 91,560 electric vehicles on the road in New Jersey at the end of 2022.

A key component of Murphy's Energy Master Plan is eliminating gas powered vehicles in order to reduce greenhouse gas emissions.

Along with incentives for residents, the BPU is also offering incentives for businesses to convert fleet vehicles to electric power and install charging stations that are accessible to the public.

FILE - In this Feb. 5, 2015, file photo, Nissan electric vehicles sit on display at an auto dealership in Roswell, Ga. (AP Photo/David Goldman, File)

Non-profits are included in the fleet incentive program for the first time in this round of grants.

Under The Clean Fleet program, grants of up to $10,000 are being offered depending on the size and type of vehicle.

The state is also encouraging developers and owners of apartment complexes and other multi-unit housing facilities to install charging stations.

New Jersey will also be installing more charging stations at popular tourist destinations in the state.

NJBPU President Joseph Fiordaliso said in a statement, "Increasing access to EV chargers in all communities and helping to bring down the cost of electric vehicles is essential to providing equitable access to clean transportation for all New Jerseyans."

Under the legislation signed by Murphy in 2020, the BPU must provide at least $30 million in annual incentives for EVs and charging stations for at least 10-years.

If you are interested in applying for a grant and to see which grants are still available, go to: chargeup.njcleanenergy.com

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As of late 2022, there were around 80,000 electric vehicles on the road in New Jersey, accounting for more than one of every 100 vehicles in NJ, according to state data.

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