Electric Vehicle Incentive Program gets new funding
By Waterbury Roundabout | November 28, 2020MONTPELIER – The Vermont Agency of Transportation has relaunched the state’s Plug-In Electric Vehicle Incentive Program with $950,000 available to income-qualified applicants who buy or lease new electric vehicles.
The program began in December 2019 as part of Gov. Phil Scott’s fiscal year 2020 budget.
In announcing the renewal of the program, Scott noted that replacing combustion vehicles with electric vehicles is a key strategy for Vermont to meet greenhouse gas reduction requirements. “These incentives make the transition to electric vehicles more affordable for Vermonters and get us closer to a sustainable transportation system,” he said.
Incentives range from $1,500 to $4,000 based on income level and whether the vehicle is an all-electric or plug-in hybrid model. Under the new eligibility criteria which were modified in July, individuals or married couples with an adjusted gross income of up to $125,000 may be eligible; those with an adjusted gross income of $50,000 or less may qualify for the largest incentives.
Transportation Secretary Joe Flynn said this will build on the popularity of the initial program. “We hope the new round of funding enables more Vermonters to make the switch into driving fully electric vehicles, which are a win for any household budget and a win for our environment,” he said.
Funds will be awarded on a first-come, first-served basis. Vermonters can apply through a participating auto dealer or independently with a consumer-direct application. Details on this and other electric vehicle incentive programs can be found online at driveelectricvt.com/why-go-electric/purchase-incentives.