Incentives Provided to Nearly 25,000 Electric Vehicles in Three Years
TRENTON —The New Jersey Board of Public Utilities (NJBPU) today announced Year Three of the popular Charge Up New Jersey Program, its electric vehicle (EV) incentive initiative, is expected to obligate all funds by Monday, April 17. At the end of 2022, there were more than 91,000 electric vehicles on New Jersey roadways making EVs eight percent of all new car sales for the year. Due to the enthusiastic response to the Charge Up Program, which launched point-of-sale incentives at showrooms and dealerships beginning on July 25, 2022, Year Three of the Program will pause on April 17 at 9:00 p.m. EST. By the close of the Program, an estimated $35 million will have been disbursed this year to support the purchase or lease of over 10,000 new EVs by New Jersey residents.
“The Charge Up New Jersey Program has been one of the great success stories of the Murphy Administration,” said NJBPU President Joseph L. Fiordaliso. “As we fight the ravages of climate change it is increasingly important to dramatically reduce the greenhouse gases generated by gas guzzling cars and encourage New Jerseyans to drive electric. The Charge Up Program has been an incredibly popular incentive that has put more electric vehicles on New Jersey roadways.”
Vehicle electrification is a key part of comprehensive Governor Murphy’s clean energy agenda, which includes increased renewable energy like solar and wind, as well as enhanced energy efficiency to reduce emissions and to transition New Jersey to 100 percent clean energy by 2035. In support of that goal, drivers looking to make the switch to electric have enthusiastically embraced the Charge Up New Jersey Program, which provides an incentive of up to $4,000 at the time of the purchase or lease of a new EV. In total, NJBPU anticipates the Charge up Program will have provided over $90 million in incentives for the lease or purchase of nearly 25,000 EVs since the program opened in May 2020.
Based on the program’s current rate of application approvals and eligible vehicle orders, NJBPU estimates that the program’s Fiscal Year 2023 (FY23) funding will be committed by purchases, orders and leases made through April 17, 2023. To accurately capture all eligible orders for the program and ensure that residents have adequate time to receive and register their new EVs with the support of available program funding, the eligibility window for the FY23 program will be paused as of 9:00 p.m. EST on April 17, 2023.
A letter issued by the NJBPU Secretary’s Office provides details on this action, giving applicants sufficient time to accept delivery of their vehicle and complete the purchase and lease paperwork for vehicles ordered within the eligibility window (July 25, 2022 through 9:00 p.m. ET on April 17, 2023) while still accommodating any delays due to supply chain disruptions. Dealerships and showrooms will be required to enter all eligible orders as described in the updated Terms and Conditions. The program administrator will accept and review all applications with an eligible vehicle order, purchase, or lease date within the eligibility window.
In order to qualify for the Year Three Charge Up incentive, New Jersey residents had to order, purchase, or lease an eligible EV in the State on or after July 25, 2022 and before the pause of the program on April 17, 2023 at 9:00 p.m. EST. To learn more about the Charge Up New Jersey Program, additional eligibility requirements, and funding level information, please visit www.chargeup.njcleanenergy.com.
The Charge Up Residential Charger Rebate remains active and is not impacted by the pause in the EV incentive program.