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Delaware
Delaware extends $2,500 rebate program: who qualifies
Delaware has extended a $2,500 rebate for another year, so electric vehicle buyers will benefit moving into 2025.
The state’s Clean Transportation Incentive Program will now be available until April 30, 2025, after it was supposed to expire on April 30 of this year.
The money is reserved for those who purchase either a plug-in hybrid or battery electric vehicle. Since it was first unveiled in 2015, the program has sent out roughly 5,500 rebates for a total of $12.8 million.
There are a few changes in store for this year’s rebate, however.
Jay L. Clendenin/Getty Images
For this year, vehicles that use bi-fuel propane, dedicated propane or natural gas are no longer eligible for the cash. Only battery electric and plug-in hybrid cars from licensed dealerships will qualify now.
“While some states are cutting back on their electric car incentives, it’s a positive sign to see some states like Delaware extending these rebates for another year,” Alex Beene, a financial literacy instructor at the University of Tennessee at Martin, told Newsweek.
“There is a significant change, though… This is a smarter approach to targeting financial incentives for electric vehicles with rebates. By scaling back the type of vehicle accepted, it ensures that those who still have yet to purchase an electric automobile and qualify for a refund can.”
Some of the top vehicle companies are included under the rebate, from Tesla, Audi, Ford, Hyundai and Kia and more.
However, there will also be more participating dealerships within Delaware that will allow customers to grab the rebate after purchase.
The majority of eligible vehicles are priced at under $40,000, but cars must be made within eight years of the current model year and registered in the state of Delaware.
If you choose to get a lower-cost car model, you could also qualify for a higher rebate amount.
The maximum available is $2,500 for a new battery electric vehicle with a base manufacturer’s suggested retail price of $40,000 or less.
A smaller amount of $1,500 is available for those buying new battery electric vehicle with a retail price between $40,000 and $50,000. Meanwhile, those purchasing new plug-in hybrid electric vehicles with a retail price of $50,000 or less or used plug-in hybrid vehicles with a fair market purchase price below $40,000 can also get $1,000.
Delaware’s rebate program comes in addition to a federal program that allows tax credits up to $7,500 for specific electric vehicle models.
How To Get Your Rebate
In order to apply for the Delaware rebate, you’ll need to register as a “supplier” with the state using the online portal and then use your supplier ID on the online application. Once you apply, you can expect the cash within eight to 10 weeks.
Just keep in mind, if you approved for the rebate, you might have to report it as taxable income to the U.S. Internal Revenue Service as well as the Delaware Department of Revenue.
“It is important to know that any rebate may be deemed taxable income so please talk to your financial professional about the ramifications regarding your personal situation,” Kevin Thompson, a finance expert and the founder/CEO of 9i Capital Group, told Newsweek.
Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
DELAWARE COUNTY, Ind. — All lanes closed on I-69 in the southbound direction in Delaware County on Friday morning.
Authorities with the Indiana State Police were dispatched to the 240.5 mile marker on a report of a crash involving a semi at approximately 8:08 a.m.
All lanes are now open.
Pennrose and JPMorganChase help neighborhoods – and residents – thrive.
Finding an affordable place to live continues to be a challenge for many as widespread housing shortages persist across the U.S. Rising home prices and high interest rates have made homeownership inaccessible for a large portion of the population. Meanwhile, as rental demand increases, the number of renters facing affordability challenges is also on the rise.
The State of the Nation’s Housing 2025 by Harvard University’s Joint Center for Housing Studies reveals that cost burdens for renters reached another record high in 2023. Similarly, the JPMorganChase Institute reports that renter affordability is declining and forcing people to devote more of their take-home pay to housing costs. There is a growing need for affordable housing across the U.S., and that rings true here in Wilmington.
To close that gap, it’s essential that all Wilmington residents share in its growth with housing options that accommodate a range of needs and budgets. For the Pennrose real estate firm, this meant delivering a concrete solution to the local community, resulting in housing for individuals and families who otherwise might not have been able to live in the area.
Reinvesting in Wilmington’s Riverside
In Wilmington, the Riverside redevelopment initiative is focused on neighborhood stability at a scale that can be felt across generations – bringing housing, education and community resources together so families can remain rooted and move forward. Imani Village, developed by Pennrose in partnership with the Wilmington Housing Authority and nonprofit community organization REACH Riverside and constructed with support from JPMorganChase, is part of this broader effort, which is expected to create more than 600 high-quality, mixed-income homes while also enhancing and expanding EastSide Charter School and Kingswood Community Center to help establish a “cradle to college/career readiness education pipeline.”
By tying new housing to strengthened local institutions, the redevelopment aims to reduce the pressure that forces families to relocate and instead keep children closer to school, neighbors closer to one another and residents connected to the services that help them thrive. In practical terms, Imani Village represents not just additional homes, but a commitment to building a neighborhood where opportunity is easier to access and easier to keep.
“We’re proud of the far-reaching impact this project will have. It reflects Pennrose’s mission to uplift our communities and expand the supply of high-quality, affordable homes,” said Brett Macleod, Community Development Banking, J.P. Morgan. “Every additional housing unit matters – and increasing the number that are affordable is critical.”
A broader commitment to Wilmington’s future
While Imani Village is foundational, the vibrancy of a community depends on much more. In Delaware, the firm provides banking services to 215,000 customers and works across sectors to expand economic opportunity. Over the last five years, JPMorganChase has invested more than $25 million in local nonprofit organizations, supported 25,000 small business clients and delivered financial health education to thousands of residents to broaden access to banking, financial health resources, homeownership and other wealth-building tools.
“As we work with local stakeholders to expand housing options, JPMorganChase’s goal is to create inclusive economic opportunity for all,” said Don Mell, Location Management, Americas East Region Lead and member of the Delaware & Philadelphia Market Leadership Team at JPMorganChase. “When our communities thrive, we all thrive.”
Learn more about affordable housing and community development at jpmorgan.com/commercial-real-estate.
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