2022 EV Subsidy Terms

  • This subsidy can only be applied to a car loan or lease agreement

  • Up to $10,800: $300 per month for up to three (3) years

    • If the total monthly payment amount associated with the vehicle is less than $300, then the subsidy amount will be that value rather than $300

    • If the length of the loan or lease is less than three years, the subsidy will be offered for the term of the loan or lease rather than for three years

  • The term EV shall refer to a four-wheeled vehicle powered exclusively by electricity supplied from an internal battery pack that can be registered for road use in the State of Rhode Island.

    • This definition expressly excludes any type of fully or partially internal-combustion powered vehicle from being acquired with assistance from this program

  • Subsidy recipients are expected to pay all additional costs, including loan or lease costs beyond the subsidy amount, operating expenses, registration fees, insurance, etc.

  • Subsidy payments will be made directly to the requisite financial institution

  • Each recipient must be a year-round resident of Block Island

  • The EV must be used primarily on Block Island

  • Recipients must be willing to help promote the adoption of EVs on Block Island (i.e. application of bumper stickers, quotes, word of mouth, etc.)

  • An EV must be acquired, either leased or purchased by December 31st, 2022 in order to receive the subsidy

  • Misrepresentation or a change in circumstances may result in cessation of subsidy payments