The AEO, the division of the Arkansas Economic Development Commission, has announced that $150,000 in rebates will be awarded through its Clean Fuel Vehicle Rebate Program, part of the Gaseous Fuels Rebate Program. “The popularity of clean fuel vehicles continues to rise, but more can be done to entice consumers to make the switch. By providing incentives to both fleet operators and fuel stations, there is a better opportunity for alternative fuels to take hold,” said Mitchell Simpson, deputy director of the AEO.
The Clean Fuel Vehicle Rebate Program applies to fleet operators for the conversion to compressed natural gas or propane or the purchase of a CNG or propane fleet. The rebate amount is dependent upon the cost of conversion or incremental cost of a clean fuel vehicle and allows for a rebate equivalent to the lesser of 50% of the conversion/incremental cost or $4,500 per vehicle. The rebates are available only on a first-come, first-served basis.
In addition, a total of $600,000 in funds will be issued to two fueling station operators through the Gaseous Fuels Rebate Program to install CNG equipment to provide public access to the fuel. Kum & Go in Springdale received a $400,000 rebate and Arkansas Oklahoma Gas station in Fort Smith received $200,000.
The Arkansas Gaseous Fuels Rebate Program supports the continued development of a publicly accessible, statewide network of alternative fuel stations and incentives for the purchase/conversion of fleet vehicles to clean-burning fuels such as CNG. The rebates allowed under the program are for the lesser of $400,000 or 75% of refueling station construction/retrofit costs and the lesser of $4,500 or 50% of the conversion costs for vehicles.
Source: AEO
