Monarch Tractor MK-V Eligible for Subsidy via California CORE Program

Tue July 11, 2023
WINE INDUSTRY ADVISOR

Monarch Tractor, maker of the MK-V, the fully electric, driver-optional, connected tractor, announced the availability of the MK-V within the CORE 2023 Clean Off-Road Voucher Incentive Project.

The CORE Project helps farmers with financial aid as they transition to clean, efficient and economically sustainable solutions such as the MK-V, and elevating their sustainable farming practices by reducing CO2 emissions.

The project is the most cost-effective emissions reduction incentive in California, saving farmers up to 50 to 65 percent of the overall cost of the MK-V. To date, Monarch has seen success with farmers implementing their MK-V tractors into their daily operations, in some cases reducing over 60 percent of the farm's expense on fuel and service and helping to enable meaningful GHG reductions on the farm, the company said.

Set to go live on July 18, 2023, the CORE Project also will extend its financial support to small businesses and historically overlooked communities across rural California that have yet to benefit from electrification. With EV tractors like the Monarch MK-V, farms now have a reason to invest in solar and clean energy. A fleet of electric tractors enables faster payback for renewables, opens up energy storage opportunities, and promotes energy independence for farmers.

"Monarch Tractor is a mission-driven company committed to increasing farmer profitability and planet sustainability," said Monarch CEO and co-founder Praveen Penmetsa. "The significant contributions from programs like CORE, which help offset the costs associated with adopting fully electric agricultural equipment, signals major growth and appetite for a transition to zero-emissions farm equipment — an imperative step for a greener and more sustainable future."

In addition to CORE, other programs such as the Carl Moyer Memorial Air Quality Standards Attainment Program, provide rebates to farmers and public agencies to replace diesel powered tractors with zero emission tractors like the MK-V. Monarch works closely with farmers to participate in this program to support farmers transition to zero emission vehicles.

For more information, visit californiacore.org/how-to-participate/ and www.monarchtractor.com.