Electric Vehicle Incentive
The Government of Prince Edward Island is now offering the most generous electric vehicle (EV) incentive in Canada by providing $5,000 to Islanders who purchase a new or used EV. Government will also offer $2,500 to those who buy a plug-in hybrid from April 1, 2021 onwards.
In addition, Islanders who utilize the PEI Universal EV Incentive (both BEV and PHEV) will receive a free Level 2 charger. Islanders will be responsible for all installation costs associated with charging infrastructure.
Incentives are administered at the point-of-sale, applied directly to the bill of sale or lease agreement. Dealerships are responsible for completing the documentation required to receive the rebate and submit all forms to Access PEI. Chargers will be shipped after all completed documents are returned to Access PEI.
In an effort to support our Island businesses, vehicles must be purchased from a Licensed Island Dealership to be eligible.
Islanders who buy a new, fully electric vehicle may be eligible for up to $10,000 off the purchase price with the Federal Government incentive of $5,000 and the PEI Universal EV Incentive combined.
What are the program details?
Prince Edward Island will follow Transport Canada’s eligibility requirements and most incentive amounts.
A list of eligible new vehicles can be found on Transport Canada's website.
*Amounts offered for an incentive may differ provincially, for example: Plug-in Hybrids will only qualify for a $2,500 regardless of battery size.
The incentive is applied after taxes.
The free charger program will be administered through Access/Service PEI.
Used BEVs/PHEVs must have a sticker price of $55,000 or less to qualify for the incentive.
The Universal EV Incentive is also eligible for leases on new vehicles:
$5000 BEV leased incentive:
48+ month Lease: $5,000
36 month lease: $3,750
24 month lease: $2,500
12 month lease: $1,250
$2,500 PHEV leased incentive:
48+ month lease: $2,500
36 month lease: $1,875
24 month lease: $1,250
12 month lease: $625
Do I have to apply for the Incentive?
No. Incentives will be administered at point-of-sale, applied directly on the bill of sale or lease agreement.
Are new and used vehicles eligible for the EV Universal Inventive?
Yes. The EV Universal Incentive offers new and used battery electric vehicles (BEV) a $5000 incentive. New and used plug-in hybrids (PHEV) are eligible for a $2500 incentive.
Who can access the EV Universal Incentive?
Islanders who purchase an EV/PHEV at an Island dealership will be able to access the EV Universal Incentive. Off Island, online and private sales will not qualify for incentives at this time.
Are fleet vehicles eligible for the Universal EV Incentive?
Yes. Organizations, non-profits and private businesses will only be able to access up to five incentives per year, including First Nations, Ingenious Groups and organizations that support Indigenous Peoples and Municipalities.
What happens if I sell my EV after receiving the Incentive?
Those who utilize the incentive must commit to owning the vehicle for at least one year, if they decide to sell their vehicle prior to the end of year one they will need to pay back a prorated amount.
Can I lease an EV and get an incentive?
Yes. The incentive amount is based on the length of the lease.
How can I access the free level two charger?
Those who utilize the incentive will receive the free charger from the province. Once the Province receives all the necessary documentation from the dealer, the consumer will receive their free level two charger by courier. The consumer will be responsible for any costs related to installation of the level two charger.
What vehicles are eligible for the PEI Universal EV Incentive?
Prince Edward Island will follow Transport Canada’s eligibility requirements and incentive amounts for new EVs. Maximum manufacturer’s suggested retail price (MSRP) for 6-seat vehicles: $55,000; for 7-seat: $60,000. The Universal EV Incentive for used vehicles will be eligible on all EVs with a sticker value of $55,000 or less.
Do I qualify for both the federal rebate and the PEI Universal EV Incentive?
Islanders who purchase a new fully electric vehicle may be eligible for up to $10,000 off the purchase price by combining the Federal Government rebate of $5,000 and the PEI Universal EV Incentive.
Who do I contact for more information about EV incentives?
Contact Ronnie McPhee at email@example.com or 902-218-4953.