Virgin Islanders contemplating buying a new, fuel-efficient car, have a new factor to weigh in their decision: the V.I. Energy Office on Wednesday announced rebates of as much as $5,000 for the purchase of hybrid, electric and high-mileage vehicles.
The rebates are for any auto purchased from Jan. 1, according to information released by the Energy Office.
It’s the first time the Energy Office has extended its rebate program to include autos, according to Don Buchanan of the office. They’ve long had rebates for energy-efficient appliances and last year launched rebates for solar water-heating systems.
“It’s something we’ve wanted to do for a while,” Buchanan said. “We just didn’t have the money.”
That changed with the passage last year of the American Recovery and Reinvestment Act. The Energy Office now has the money to help usher in an era of more efficient autos on the islands, reducing fuel consumption and carbon emissions from traffic.
The program recognizes four classes of vehicles that are eligible for the rebates: hybrid electrics, zero-emission vehicles, plug-in electrics, and alternative fuel and high-mileage gasoline vehicles.
The highest rebate is available for the zero-emission cars, which could provide a $5,000 rebate; next come the plug-in electrics, topping out at a $4,000 rebate. The other vehicles are rebated on a sliding scale depending on their mileage.
To be eligible, the vehicles must be purchased in the territory, and applications must be submitted within 30 days of the vehicle being registered with the Bureau of Motor Vehicles.
Buchanan pointed out that the rebate program is subject to the availability of funds and will be terminated when the funds run out. It is available only to residents of the territory.
