Vermonters travel a lot by vehicle. Transportation makes up roughly 47% of Vermont’s greenhouse gas emissions. Electric vehicles offer a real opportunity for Vermonters to cut their fossil fuel usage and cost less to operate and maintain than a traditional vehicle. Thankfully, the State of Vermont and Stowe Electric are offering incentives that will help make the switch to an EV a little more affordable. Switching to an EV will help to cut your emissions and the cost of your commute.
STOWE ELECTRIC AFTER PURCHASE INCENTIVE
Stowe Electric is offering the following incentives toward electric vehicles.
Purchase/Lease Rebates for New EVs
$750 Plug-In Hybrid
Purchase Rebates for Pre-Owned EVs
$300 Plug-In Hybrid
Any income-eligible customer who purchases a qualifying new or used all-electric or plug-in hybrid vehicle in 2023 is eligible for an additional $300.00.
STATE OF VERMONT INCENTIVE OFFERING
The State is offering incentives to Vermonters for the purchase or lease of an EV. Please visit Drive Electric Vermont's website for more information.
The MileageSmart program provides low and moderate income car buyers an incentive covering 25% of the upfront cost of a used high efficiency vehicle, up to $5,000. Learn more and access application instructions at MileageSmartVT.org.
The Replace Your Ride program is a limited-time incentive program to consumers who scrap their old Internal Combustion Engine (ICE) vehicle in favor of a new or used plug-in electric vehicle or a pre-paid clean mobility card. The rebate amount for this program has been designated at $3,000 for each eligible scrapped ICE vehicle. https://vtrans.vermont.gov/planning/projects-programs/vehicle-incentives.
FEDERAL TAX CREDIT AND OTHER OFFERINGS
You may qualify for up to $7,500 in federal tax incentives depending on the size of the battery and your annual tax liability. There are also incentives available directly from some automakers and auto dealers.
EV INFO AND RESOURCES
Drive Electric Vermont is a great resource to help you decide if an electric vehicle is right for you and can answer important questions, including:
Comparisons of different models
Estimate how much owning and operating an AEV or PHEV would cost compared to a gas vehicle
The other benefits of electric vehicle ownership
Find public charging stations across the state