In Texas, the TERP program is back in effect, at least while funding lasts. Don’t miss the fact that this started last September, so you can apply if you have purchased or leased a compressed natural gas, liquified petroleum gas, and all-electric, or plug-in hybrid. (You can find a list of eligible vehicles here.)
The Texas Emissions Reduction Program is offering two rebate incentives under the Light-Duty Motor Vehicle Purchase or Lease Incentive Program. The program offers up to a $5,000 incentive rebate for the purchase or 3-year lease of an eligible new light-duty motor vehicle powered by compressed natural gas or liquefied petroleum gas.
It also offers a $2,500 incentive rebate for the purchase or lease of a light-duty motor vehicle powered by a hydrogen fuel cell (fuel cells are similar to batteries and produce electricity without combustion or emissions), or other electric drive (plug-in or plug-in hybrid).
The rebates are offered statewide and only vehicles purchased or leased in Texas are eligible for the rebate. Interested parties should review the eligibility requirements and then apply. Rebate applications will be accepted and considered on a first-come, first served basis during the rebate period. LDPLIP applications must be submitted by 5:00 p.m. on May 31, 2019.
Leases for any of these vehicles will be prorated over a three-year term, 33.3 percent for a one-year lease, 66.6 percent for a two-year lease, and 100 percent for a three-year lease.
All eligible vehicles must be purchased on or after Sept. 1, 2017. Only one incentive will be provided for each vehicle obtained in Texas and only vehicles sold by a licensed new car dealership in Texas are eligible for the incentive.
This rebate can be obtained in addition to the $7500 Federal Tax Credit.
Photo Credit: BMWTags: Plug-In Hybrid