Governor Phil Scott announced on Nov. 19, the Vermont Agency of Transportation (AOT) has relaunched the state’s Plug-In Electric Vehicle (PEV) Incentive Program with a new round of $950,000 in incentive funding available to income-qualified applicants to purchase or lease new PEVs.
The program was first proposed by Governor Phil Scott in his FY2020 budget, and the first round of the program launched in December 2019.
“Transportation is responsible for a large part of our greenhouse gas emissions and replacing combustion vehicles with electric vehicles is a key strategy for meeting Vermont’s greenhouse gas reduction requirements,” said Governor Scott. “These incentives make the transition to electric vehicles more affordable for Vermonters and get us closer to a sustainable transportation system.”
Incentive amounts 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 (modified in July 2020), individuals or married couples with an adjusted gross income (AGI) of up to $125,000 (depending on tax filing status) may be eligible for incentives, with larger incentives available to individuals or married couples with an AGI of $50,000 or less.
“We’re very encouraged by the success of the first round of the EV incentive program,” said Transportation Secretary Joe Flynn. “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.”
Vermonters can apply through a participating auto dealer or independently with a consumer-direct application. Incentive funds will be awarded on a first-come, first-served basis.
For more information on income eligibility, eligible PEVs and application instructions, as well as other EV incentives, visit driveelectricvt.com/why-go-electric/purchase-incentives.
