Establishing an electric vehicle (EV) rebate program for the purchase of all-electric and plug-in hybrid vehicles in Oregon would produce economic gains while reducing gasoline consumption by Oregon consumers. The rebate would inject an additional $83 million into the state’s GDP through 2030 while making consumers less vulnerable to fluctuating gasoline prices.
The report finds that implementing a rebate for EVs would save Oregon drivers $46 million in gasoline bills over the next five years. Those savings would increase to $212 million through 2030. In addition, more electric vehicles on Oregon’s roads would mitigate the negative effects of high or volatile global oil prices on the state’s economy, acting as a type of insurance policy for household budgets.
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