MONTPELIER, Vt. (NEWS10) — It was announced Thursday by Gov. Phil Scott that 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 for income-qualified applicants who buy or lease new PEV’s.
“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 reportedly 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 was modified in July 2020, individuals or married couples with an adjusted gross income (AGI) of up to $125,000, depending on tax filing status, could 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.”
Vermont residents can apply through a participating auto dealer or independently with a consumer-direct application. Incentive funds will be reportedly be awarded on a first-come, first-served basis.
For additional information visit the Drive Electric Vermont website.
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