EV Buyer's Guide: The Basics Of Going Green

Are you ready to dump the pump after the latest hikes in gas prices? You’re not alone. Skyrocketing fuel costs combined with significant advancements in electric vehicle technology have driven many people to the same conclusion: it’s time to make the change to charge. If it’s your first time considering a green alternative, you’re probably wondering about rebates, range, charging, and more. So we put together this guide to help you gain a better understanding of electric vehicle ownership. 

*This article has been updated to include new rebate regulations from March 2023. 

** As of Monday, January 13, 2024, the federal government has suspended the federal iZEV incentive.

How Do Incentives Work?

To keep things simple, vehicles are split into two categories to determine incentive eligibility - BEVs (Battery Electric Vehicles) and PHEVs (Plug-In Hybrid Electric Vehicles). Because BEVs play the greatest role in reducing emissions, they qualify for the full federal and provincial rebate amounts, while their plug-in counterparts are eligible for half of that amount. Keep in mind, federal rebates only apply to new vehicles, but don’t worry! Pre-owned vehicles are still eligible for PEI's provincial incentives with prices up to $70,000.

Any applicable incentives will be applied directly through your dealership at the point of sale, so you won’t have to worry about any pesky paperwork. Once you decide which vehicle is right for you, all you have to do is keep the vehicle registered under your name for at least 12 months. Selling or trading your EV prior to that will result in you being responsible for returning any provincial or federal funds that were applied to your purchase.

The next factor that comes into play is whether you’re purchasing or leasing. An outright purchase will be eligible for full government rebates, while a leased vehicle’s rebates will be prorated for the duration of the lease (up to 48 months).

Which Centennial Auto Group Models Are Eligible For Rebates?

Our brands have been busy building cutting edge EVs that meet our customer’s variety of needs, while exceeding their expectations of what an electric vehicle can be. Whether you’re looking for a compact hatch or a full-sized SUV, we have plenty of options available to help you go green (and save green).

Charging

Last but not least, it's time to talk about charging. Whether you purchase or lease a new or pre-owned electric vehicle, the province of PEI will issue delivery of your free level 2 home charging station directly to your home address via courier. You'll be responsible for coordinating the installation with a professional electrician, who will then hook you up with your very own home charging station.

* (As of March 1, 2023, the previous charger program has ended. "Now," says the province, "$750 will go towards the purchase and installation of the owner's preferred charger, or charging expenses for those unable to install a charger, such as those who live in an apartment.)

But what happens if your battery runs low while you're away from home? PEI has a growing network of both level 2 and level 1 fast charging stations conveniently located across the island. You can find a map of low-cost and free charging options from North Cape to Wood Islands using ChargeHub.com, where they keep up to date maps of EV charging stations across North America!