Tesla Model 3

Tesla Model 3

The Tesla Model 3 has just been included to California's Clean Vehicle Rebate Project (CVRP), which in best case scenario lowers the cost of the EV by up to $4,500.  Although most would receive $2,500 (see details below).

Combined with the $7,500 federal tax credit, the effective price of the base Model 3 in California for many will start at $25,000.

Entire list of Clean Vehicle Rebate Project (CVRP) is available here.

However, the amount of rebate and one's eligibility depends on the applicant (and his extended family's) income. Since November 1, 2016 the income cap is:

  • $150,000 for single filers
  • $204,000 for head-of-household filers
  • $300,000 for joint filers
Consumers with household incomes less than or equal to 300 percent of the federal poverty level are eligible for an increased rebate amount - by $2,000 for total $4,500 in case of all-electric cars like Model 3.  (Translated:  single persons with earnings under $36k, and households (4) with earnings under $73k).

Details and 2017 Federal Poverty Level (FPL) Guidelines are available here.

With all that said, the CVRP program is currently out of cash for any applicants not low-income.  The anticipation is that it will be refunded, but no timeline is yet available.  One imagines with the expected high volume of Tesla Model 3 sales in California later this year...it might be quite a wait for many.

CVRP program has a bit of a funding shortfall atm...the Tesla Model 3 unlikely to assist in fixing this problem

CVRP program has a bit of a funding shortfall atm...the Tesla Model 3 unlikely to assist in fixing this problem