Electric Vehicles (EV)
Go Forth, Go Electric
Electric vehicles are driving us into the future. Figuratively and literally. The electrification of vehicles replaces gasoline fuel and saves you time and money. Renewably powered electric cars, buses, bikes, motorcycles, delivery trucks are available now. With EVs, you really can have it all: fun, safe, and fast; cutting-edge technology and good, old-fashioned joyrides; VIP parking; and barely any maintenance. Electric vehicles go from zero to fast in no time and they’re whisper quiet. They’re great for your wallet and your conscience, keeping our air clean and protecting the places we call home.
Electric Vehicle FAQs
What state rebates are available for electric vehicles and plug-in hybrid electric vehicles?
Vermont State Electric Vehicle Incentive Program:
Incentives are available to individuals with an annual household income of $92,000 or less applying for a new Plug-in Hybrid Electric Vehicle (PHEV) and Electric Vehicles (EVs) with a base price of $40,000 or less. More than 20 models are eligible with $1,500 incentives for plug-in hybrid electric vehicles and $2,500 incentives for all-electric vehicles.
Larger incentives of $4,000 for plug-in hybrid electric vehicles and $5,000 for all-electric vehicles are available for individuals whose households qualify for Vermont’s Weatherization Program. The statewide incentive may be used in combination with additional EV incentives offered by the state’s electric utilities and federal tax credits for greater savings. Details here.
What Federal incentives are available for electric vehicles and plug-in hybrid electric vehicles?
Federal tax credits ranging from $2,500 to $7,500 are available to buyers of qualified plug-in electric vehicles. The size of the credit is based on the battery size. Our vehicle comparison includes the exact amounts for each model.
No date is currently in place for the expiration of these tax credits but once an individual manufacturer sells 200,000 qualifying vehicles the credit will be phased out for that automaker over the course of a year. Tesla vehicles reached the end of their sunset period on December 31, 2019 and General Motors vehicles had their tax credit entirely phased out on March 31, 2020.
Since the credit can only be claimed in the year the vehicle was put into service, the annual federal tax liability of the buyer may be a limiting factor in the size of the tax benefit received.
For more information on how to claim the electric car tax credit, visit the U.S. Department of Energyʼs Fuel Efficient Vehicle Tax Information Center (see the “Claiming the Credit” section beneath the listing of models and tax credit amounts)
What incentives are available from utility companies?
Burlington Electric Department is offering customers a $1,800 rebate on the purchase or lease of a new all-electric vehicle or $1,500 on a new plug-in hybrid vehicle priced at $50,000 or less, or $800 on a used electric car. Moderate income customers are eligible for up to an additional $600 incentive on an all-electric or $300 for a PHEV. They will also provide all-electric buyers with a $400 rebate toward a qualifying level 2 charger if purchased within 60 days of your vehicle purchase or lease.
If you have a BED-approved charger, you can sign up for a discounted rate for EV charging of 8 cents/kWh when you keep all your charging for the month between 10 pm and 12 noon.
BED has partnered with local credit unions on low-interest financing options for electric vehicle purchases that includes their incentive.
Visit BED’s Electric Vehicle program resources for more information on these incentives.
BED also offers $200 discounts on electric bicycle purchases or conversions.
Green Mountain Power is offering electric car incentives, including $1,500 for a new all-electric vehicle, $1,000 for a new plug-in hybrid, or $750 for a used electric car (either all-electric or plug-in hybrid). Qualifying low-to-moderate income customers getting a new or used all-electric vehicle can also receive an additional $1,000 rebate. These incentives are available for customers purchasing or leasing electric cars with a manufacturer’s suggested retail price (MSRP) under $60,000. Interested customers are encouraged to visit GMP’s EV rebate page for additional details.
GMP also offers customers FREE Level 2 (240 Volt) charging equipment with an electric vehicle purchase. Customers are responsible for any installation costs. The charger needs to be internet connected and part of the GMP program where customers share access with GMP to reduce demand during peak times. Visit their in-home charging page for more details.
They have also partnered with Alderman’s Chevrolet on GM employee discount pricing for Volt or Bolt customers.
GMP also offers $200 discounts on electric bicycle purchases or conversions.
Stowe Electric Department is offering customers a $1,000 incentive for the purchase of a new all-electric vehicle or $750 for a new plug-in hybrid vehicle. Income qualifying customers will also be eligible for an additional $250 incentive on a new EV. Pre-owned EVs are eligible for an incentive of up to $400.
Visit their website for more information on these offerings.
Vermont Electric Coop is offering customers a $500 bill credit for the purchase of a new or used all-electric vehicle or $250 for a plug-in hybrid vehicle. Customers leasing an all-electric car are eligible for up $100 in bill credit for each year of the lease or $50 for each year of the lease for plug-in hybrid vehicles. Lower-income members qualifying for the higher state incentive amounts will receive an additional $250 from VEC.
VEC is also offering a $250 bill credit for qualifying level 2 home charging equipment when avoiding charging between 5-9 pm.
Visit their Electric Transportation resources for more information.
Vermont Public Power Supply Authority (VPPSA)—including Barton, Enosburg, Hardwick, Jacksonville, Johnson, Ludlow, Lyndonville, Morrisville, Northfield, Orleans and Swanton.
The rebate amount is $1,000 for the purchase or lease of a new all-electric vehicle or $500 for a new plug-in hybrid vehicle. Low income customers are eligible for an additional $400 for a new all-electric or plug-in hybrid vehicle. Pre-owned electric vehicles are eligible for an incentive up to $500.
VPPSA’s electric car rebate form has more information on redeeming this offer.
VPPSA is also offering a $500 incentive for public or workplace EV charging installations. Learn more at their EV charging rebate resources.
Washington Electric Co-op is offering members incentives of $1,200 on a new all-electric vehicle or $950 on a new plug-in hybrid vehicle (purchase or lease). An additional $700 is available for income-eligible households.
Visit WEC’s EV incentives page for more details.
Are there any other incentives available?
Other Vermont Incentives
The MileageSmart program is funded by the State of Vermont to offer lower income households an incentive covering 25% of a used high efficiency vehicle purchase cost, up to $5,000. Eligible used vehicles must have an efficiency of 40 miles per gallon or higher – this includes many EV models with miles per gallon equivalent efficiencies well over 40 MPGe. Additional information on eligibility and application instructions is available at MileageSmartVT.org.
Several Vermont companies and organizations offer incentives for electric car purchases and other sustainable transportation options. Check with your employer to see whether you are eligible.
ZERO-EMISSION TECHNOLOGY INVENTORY
The Zero-Emission Technology Inventory (ZETI) tool is an interactive online resource to establish a current and shared knowledge base for worldwide commercially available offerings of zero-emission medium- and heavy-duty vehicles (MHDVs).
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