Summary
- Vermont Agency of Transportation offering strengthened incentives for switching to electric vehicles after July floods
- Replace Your Ride Program now accepts flood-damaged vehicles for up to $6,000 in incentives
- MileageSmart Program provides a full $5,000 incentive for replacing flood-damaged vehicles
- Vermont EV market continues to grow, with 13,940 EVs in the state as of April 2024
- Vermont ranks 12th in the nation for EV market share and 8th in the ratio of EVs to public chargers, but more chargers are needed nationally
Article
In response to the July floods in Vermont, the Vermont Agency of Transportation has enhanced its incentive programs to encourage Vermonters whose personal vehicles were damaged to switch to electric vehicles (EVs). The Replace Your Ride Program now offers up to $5,000 for trading in a gas or diesel vehicle for an EV, regardless of age or drivability. Additional guidelines must be followed to qualify for this program. Moreover, new or leased EVs are eligible for an extra $1,000 incentive, making the total incentive for eligible Vermonters up to $6,000 for replacing flood-damaged vehicles. The MileageSmart Program, which offers incentives for high-efficiency used vehicles, will now automatically provide a full $5,000 incentive to Vermonters replacing flood-damaged vehicles. These incentives can be combined for up to $11,000 off the price of a new EV and up to $10,000 off the price of a used EV, in addition to utility rebates and federal tax credits.
The electric vehicle (EV) market share in Vermont has been growing steadily, with a total of 13,940 EVs registered in the state as of April 2024. This includes 8,089 all-electric vehicles and 5,851 plug-in hybrids, which operate on both electricity and gas. Despite the national market showing some concerning signs in EV sales, such as Ford shifting production from all-electric vehicles to Super Duty trucks, EV sales have been increasing in Vermont. In 2020, there were only around 4,000 EVs in the state, compared to nearly 14,000 today, according to electric vehicle registrations. Nationally, EV sales in the U.S. grew by 11.3% year over year in the second quarter, reaching a record-high volume of 330,463 units.
A recent study by the Alliance for Automotive Innovation ranked Vermont 12th in the nation for EV market share and eighth in the ratio of EVs to public chargers. While Tesla leads the national EV market share, Toyota is the top brand for EVs in Vermont, followed by Tesla and Chevrolet. The opening of a Tesla store and service facility in South Burlington is expected to strengthen Tesla’s position in the state. However, public charging stations remain a significant challenge for EV advocates, with over 1 million public chargers needing to be installed nationwide by 2030 to meet necessary infrastructure estimates.
In Vermont, there are currently 74 fast charging locations with 177 charging plugs and 350 level 2 charging locations with 862 plugs. The state is aiming to increase the number of fast charging plugs to 247 and level 2 plugs to 956 by the end of 2025 to support an expected 27,000 EVs in the state. While there is still a need for more public charging stations, Vermont is making progress in expanding its charging infrastructure. State investments in charging stations are complemented by efforts from electric utilities and private companies to install public charging stations, ensuring reliable access for residents and tourists driving EVs in Vermont.
As the EV market continues to grow in Vermont and nationally, there is a pressing need to expand the charging infrastructure to support the increasing number of EVs on the road. By offering incentives for Vermonters to switch to EVs and investing in additional charging stations, the state is working towards a more sustainable and environmentally friendly transportation system. Collaboration between government agencies, electric utilities, and private companies will be crucial in addressing the challenges and opportunities presented by the shift towards electric vehicles.
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