Tennessee's Electric Car Rebate Fund Still Healthy

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2011 Nissan Leaf

2011 Nissan Leaf

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If you live in Tennessee and you're holding out for more electric cars to hit the market, then you could be in luck.

So far, only buyers of the Nissan Leaf have been benefitting from the $2,500 electric car rebate, with no other electric vehicles to choose from.

The Tennessean reveals that, of the original $2.5 million fund, there's still $1.93 million left - good news for any customer biding their time for electric cars from other manufacturers to hit the market.

Chevrolet's Volt, which went on sale in the state in the fall, has not yet been eligible for the rebate, but Tennessee is open to requests from General Motors for it to be added. If so, this would allow more customers to take advantage of the fund.

228 Leafs have been sold since going on sale in Tennessee, one of the first states to get the electric Nissan. They've been solely responsible for the $570,000 chunk so far. The rebate fund covers the first 1,000 electric cars sold in the state.

A 2012 Nissan Leaf sells for $37,250 before the $2,500 rebate and potential federal tax credits of $7,500, meaning a customer qualifying for all can get a Leaf on their driveway for $27,250.

Should the Volt become approved for the rebate, it would join the Leaf and cars like the Mitsubishi i and Ford Focus Electric, yet to go on sale. The third-generation Smart ForTwo Electric Drive is also set to go on sale this year, as is the Tesla Model S.

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