Electric Vehicle Rebates
It can be hard to keep up with all of the new rebates and incentives for electric cars. We’ve compiled this easy-to-use guide to help you take advantage of everything available to you. Each rebate has its own details so please read below carefully. Let us know if you have any questions.
Learn more about Electric Vehicles.
Auto manufacturers and Vermont dealerships offer special deals on electric cars from time to time. Check out Drive Electric Vermont’s Rebate page for the latest offers and information.
Federal IRS Refund (Up to $7,500)
Details: The federal government is offering a refund on your taxes of up to $7,500. This is a refund; not simply a deduction. In other words, if you’ve paid at least that much in federal taxes on a new electric vehicle in the year you purchase it, you may be able to to get up to $7,500 back.
However, the refund will go away for each auto maker when they sell 200,000 vehicles. The amount of the refund may be lower based on the car’s battery size.
The terms of this rebate are subject to change so visit irs.gov for the latest details.
This page is not tax advice. Please consult a tax professional to see if you can claim the federal tax incentive.
Action: Claim this rebate on your annual tax form.
Vermont NEW EV Rebate (Up to $4,000)
Details: The State of Vermont is offering two levels of rebates based on household income. Household income criteria are listed at Drive Electric Vermont’s website. Please review their web page before purchasing your new vehicle.
This rebate is for new electric vehicles with a starting MSRP under $40,000. Eligible models are listed on table 2 on page 7 of the State of Vermont Plug-in Electric Vehicle Incentive Program Guidelines lists the models eligible for the State incentive program. This list will be updated if new PEV models are introduced to the Vermont market with a base MSRP under $40,000 while the State Incentive Program is available.
Action: Fill out form at point of sale or click button below:.
MileageSmart Pre-owned EV Incentive (Up to $5000)
The state of Vermont also offers incentives to support low- and moderate-income Vermonters in purchasing used electric vehicles. The MileageSmart program, administered by Capstone Community Action, covers 25% of the purchase price of EVs and most PEVs – up to $5000.
Got questions about the program? You can reach the MileageSmart team at: 1-802-249-3043 or email@example.com.
Burlington Electric Department (Up to $2,400)
New & Lease: We are offering Burlington customers a $1,800 rebate on the purchase or lease of a new electric vehicle (EV) or $1,500 toward a plug-in hybrid vehicle (PHEV). An additional $600 is available for moderate income customers* buying an EV ($300 for PHEV). See rebate form for details.
Burlington Electric Department defines low-to-moderate income households using the numbers below.
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Pre-owned: We are offering all Burlington customers an $800 rebate on the purchase of a used/pre-owned electric vehicle (EV) or plug-in hybrid vehicle (PHEV).
Terms & Conditions
- The MSRP must be $50,000 or less. MSRP is the cost of the vehicle with all included features before taxes and fees.
- In addition to the other terms and conditions listed here, vehicle must also be on Drive Electric Vermont’s list of eligible vehicles.
- For the $1,200 plug-in hybrid rebate, the vehicle must have an EPA-rated electric range of at least 10 miles.
- All-electric vehicles must have been leased or purchased on or after September 9, 2019.
- Plug-in hybrids must have been leased or purchased on or after September 9, 2019.
- This rebate is only for BED customers with active accounts.
- Vehicle must be registered in Burlington, Vermont.
- Limit two rebates per household or business.
- BED reserves the right to modify or end this offer at any time.
Looking for Used EVs?
Used electric vehicles (both all-electric and plug-in hybrids) are starting to hit the market. Here are a few links to help you begin your search.