Picture of Vermont State House in Montpelier, Vermont.

The State of Vermont today launched an incentive program for the purchase or lease of new plug-in electric vehicles, which includes all-electric vehicles and plug-in hybrid electric vehicles. Vermont is far behind its goal of more than 50,000 plug-in vehicles by 2025.

More than 20 plug-in models are eligible for the program, with $1500 incentives for plug-in hybrid vehicles and $2500 incentives for fully electric vehicles. Larger incentives are available for individuals whose households qualify for Vermont’s Weatherization Program. (All incentives in this program are limited to individuals with an annual household income of $92,000 or less applying for a new PEV with a base price of $40,000 or less).

The new state incentive will be in addition to rebates proposed by Green Mountain Power (currently under review by the Vermont Public Utility Commission), which would equal $1000 for plug-in hybrids, $1500 for new fully electric vehicles, and $750 for pre-owned EVs, each of which will be supplemented by a free networked EV charger valued at $600.

Although the total cost of owning (i.e., purchasing and operating) an EV is already below that of an internal combustion-powered vehicle, higher up-front costs remain a barrier for some. These incentives will reduce that cost and are expected to result in increased vehicle sales.

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EV Incentives Introduced In Vermont