Overview
Waterloo offers a $10,000 subsidy to any department seeking to replace an existing internal combustion engine vehicle with a fully electric modified. Launched in January 2022, the subsidy is a key action to overcome up-front cost barriers from EVs, which are often more expensive to purchase compared to a conventional vehicle. Although there is typically a favourable life cycle cost of owning and operating the vehicle, as they require less maintenance and have lower energy costs, the initial cost can be a barrier.
Funding details:
- Must be applied toward cost of purchasing an EV
- Can be combined with any other federal/provincial purchase incentive or rebate
- Must be for University-owned vehicles (not leases)
- Purchased vehicle must be fully electrified (not hybrid)
- Funds will be transferred upon successful purchase of the vehicle
If you have any questions or would like to arrange for this to be applied toward your vehicle purchase, please contact Mat Thijssen.