Vermont EV rebate program runs out of money

BURLINGTON, Vt. (WCAX) – It’s the end of the road for state electric vehicle incentives for this year after the program ran out of money this week.

Rebecca Brookes took her time shopping for the right electric vehicle at the right price.

She gave a Tesla Model 3 the green light, relying on federal, utility, and state incentives. “I waited to buy this car until the stars aligned,” Brookes said.

But the stars didn’t align on the state end. On October 7, Vermont announced EVs purchased on or after October 8 weren’t eligible for state incentives. Brookes bought her Tesla just days too late and had to pay an extra $3,000.

“It felt like I was baited and switched a little bit. I was dependent upon it., I was counting on it,” she said.

In early September, state leaders estimated nearly $2.5 million left in state EV incentives would stretch until the end of the year. But Vermonters exhausted it by early October, the highest incentive uptake in the program’s history.

“We saw a significant surge, and we’re still working through the applications that are coming in, because there’s still a lag time, and actually seeing those applications come in and processing them,” said Patrick Murphy of the Vermont Agency of Transportation.

Murphy suspects a boost in EV lease offers that qualify for the state’s incentive program might have caused the September swell but he’s not sure. He says dealerships are aware and notifying customers of the shortcomings. “There are the trusted sources of information about electric vehicles, but also about the incentive programs themselves,” Murphy said.

Now a Tesla owner, Brookes loves her car but questions whether she would’ve bought it knowing state incentives would fall through. She hopes the state routes more money to incentives so other Vermonters don’t hit the same bump in the road. “I just hope that they’re able to get money next year so that more people can consider driving electric,” said Brookes.

While the state considers more funding in the next legislative session, there are still federal and utility rebates available to help pay for your electric car or bike.

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