Washington Policy Center: State’s Electric Vehicle program falls short of expectations

Washington’s initiative to boost the electric vehicle (EV) market for lower-income buyers did not meet expectations, according to a recent study.

The Washington Policy Center (WPC), a conservative think tank, said, “Vehicle registration data show the program achieved just over half its promised goals.”

According to Todd Myers, the Vice-President for Research at WPC, the program resulted in a negligible reduction in CO2 emissions, by only 0.03%.

“The price to cut CO2 using the state’s EV rebate is the equivalent of paying $2,072.14 for a latte,” Myers explained.

More from MyNorthwest: UW settles pandemic tuition lawsuit for $4 million

Electric Vehicle program was costly

Myers analyzed data from the Department of Licensing and found that fewer than 5,000 purchases were made using the rebates, falling short of the optimistic projection of seven to eight thousand by then-Gov. Jay Inslee. He was referring to the $45 million program aimed at providing rebates for low-income families purchasing lower-priced electric vehicles.

“We didn’t get anything for it. We didn’t get any environmental benefit,” Myers told KOMO TV. “I think it was clearly a waste.”

Myers wrote, “The cost of the program to reduce emissions is astronomical, costing $3,453.57 to reduce one metric ton of CO2 – nearly 86 times as much as the state’s current CO2 price.”

Setting the national stage

Washington is the first state to prioritize low-cost leases through the Washington Electric Vehicle Instant Rebates program, making EVs more accessible to all residents.

All EV models qualify for IRA Federal Tax Credits if leased, allowing Washingtonians to lease an EV for under $200 a month, with at least seven models available at this price.

State Rep. Jake Fey (D-Tacoma), chair of the House Transportation Committee, disagrees with Myers’ assessment.

“I don’t know how you can say that without knowing how much each driver drove the vehicle,” Fey said, per KOMO TV. “I wouldn’t consider it to be a waste of money because of the benefit we’ve talked about, benefiting people who are struggling to pay the cost for their transportation.”

More from MyNorthwest: Seattle Police arrest teen connected to February armed robbery spree

Despite high prices, EVs are popular in state

Despite the program’s challenges, EVs remain popular in Washington.

The Alliance for Automotive Innovation reports that Washington has the third-highest share of EVs among states but ranks 46th in the ratio of EVs to public chargers. Inslee had plans to expand the rebate program, but it is unclear if current Gov. Bob Ferguson will echo that sentiment.

Myers believes the program’s spending should be reassessed, potentially shifting focus from promoting sales to improving infrastructure. “If we really care about fighting climate change, we need to make sure every dollar is spent well,” he said.

Follow Bill Kaczaraba on X. Send news tips here.