Vermont Electric Utility Incentives
Burlington Electric Department is offering customers a $1,200 rebate the purchase or lease of a new All Electric Vehicle or $600 on a Plug-in Hybrid Electric Vehicle priced below $50,000. This program is anticipated to be available through the 2017 calendar year and may be renewed or modified in future years. Customers may purchase a qualifying EV from any dealership in Vermont or beyond and are limited to one rebate per household or business. BED has also partnered with Nissan to offer customers a $10,000 purchase rebate on new 2017 Nissan LEAF electric vehicles. Visit BED's Electric Vehicle program resources for more information.
Green Mountain Power has partnered with Nissan to offer GMP customers a $10,000 purchase rebate on new 2017 Nissan LEAF electric vehicles. The federal tax credit of $7,500 would also be available in addition to the Nissan rebate (tax credit details are below). Visit GMP's Leaf Power Program website for details on this offer.
Vermont Electric Coop is offering customers a $250 bill credit for the purchase of a new or used plug-in electric vehicle. Leases are eligible for a $50 bill credit for each year of the lease. VEC has also partnered with Nissan to offer customers a $10,000 purchase rebate on new 2017 Nissan LEAF electric vehicles. Visit their Energy Transformation Program resources for more information.
Washington Electric Co-op has also partnered with Nissan to offer WEC customers a $10,000 purchase rebate on new 2017 Nissan LEAF electric vehicles. The federal tax credit of $7,500 would also be available in addition to the Nissan rebate (tax credit details are below). Visit WEC's LEAF program flyer for details on this offer.
Other Vermont electric utilities may have reduced rates for charging and/or electric car purchase incentives. Please contact your local electric provider to learn more about current or planned programs for electric car owners.
Other Vermont Incentives
Several Vermont companies and organizations offer incentives for electric car purchases and other sustainable transportation options. Check with your employer to see whether you are eligible.
The University of Vermont has also partnered with Nissan to offer students and employees a $10,000 purchase rebate on new 2017 Nissan LEAF electric vehicles. Visit UVM's program announcement for more information. This discount does not stack with the above-mentioned electric utility Nissan discount programs.
Federal Tax Credits for the Purchase of Electric Vehicles
Federal tax credits ranging from $2,500 to $7,500 are available to buyers of qualified plug-in electric vehicles. The size of the credit is based on the battery size. Our vehicle comparison includes the exact amounts for each model.
No date is currently in place for the expiration of these tax credits but once an individual manufacturer sells 200,000 qualifying vehicles the credit will be phased out for that automaker over the course of a year.
Since the credit can only be claimed in the year the vehicle was put into service, the annual federal tax liability of the buyer may be a limiting factor in the size of the tax benefit received.
For more information on how to claim the electric car tax credit, visit the U.S. Department of Energyʼs Fuel Efficient Vehicle Tax Information Center (see the "Claiming the Credit" section beneath the listing of models and tax credit amounts).
Leasing and the Federal Tax Credit
If you are interested in leasing an electric car, it is important to note the federal tax credit can only be claimed by the leasing company as the "owner" of the vehicle. However, the leasing company will usually pass through a portion or all of the benefit to the lessee (driver) as part of the lease deal to significantly lower the lease down payment and/or monthly payments.
We encourage anyone shopping for an electric car lease to work with the dealership to understand how the federal tax credit may reduce your lease costs.
Federal Tax Credits for Electric Vehicle Charging Equipment
The federal tax credits for Electric Vehicle Supply Equipment (EVSE) for businesses and residents expired on December 31, 2016.
Homeowners were eligible for a 30% tax credit up to $1,000 based on their charging station installation costs.
Commercial property owners were eligible for a 30% tax credit up to $30,000 on installation costs for charging equipment.
It is possible these credits could return in the future, but there is not immediate renewal or replacement moving forward. More information on this tax credit, including links to IRS forms, is available at the U.S. Department of Energyʼs Fuel Efficient Vehicle Tax Information Center.