Oregon puts rebates for electric vehicles temporarily on hold

A program in Oregon giving rebates for buying or leasing electric vehicles has become a victim of its success.

The state has temporarily suspended rebates for a year starting in May because too many people are applying, and the program is running out of money, according to a report by The Oregonian/OregonLive.

Over 60,600 EVs are registered in the state.

In over five years, the Clean Vehicle Rebate Program has disbursed more than $71 million to help people buy or lease roughly 25,000 of those vehicles. 

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A car is parked by an electric charging station in downtown Portland, Oregon, March 31, 2011. Oregon will temporarily suspend rebates for buying or leasing an electric vehicle for a year starting in May.  ( (AP Photo/Rick Bowmer, File) / AP Newsroom)

The state has offered two cash rebates for Oregon drivers who buy or lease electric vehicles or plug-in hybrids under $50,000. 

The standard rebate of up to $2,500 is available regardless of income and can be received at participating dealers. 

The “charge ahead” rebate of $5,000 is aimed at low or moderate income households and must be accessed via a mail-in application. The two rebates can be combined for up to $7,500 cashback.

A line of electric cars and newly installed charging stations sit in front of the Portland General Electric headquarters building on July 28, 2015, in Portland, Oregon.  ( (AP Photo/Don Ryan, File) / AP Newsroom)

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By 2035, Oregon’s Department of Transportation estimates that people will be driving 1.5 million electric vehicles in the state.

The Associated Press contributed to this report.