Comprehensive Plan Includes Up to $2,500 in Incentives for New Electric Vehicles, Plug-In Hybrids, Pre-owned Electric Vehicles, and Enhanced Rebate for Low-and Moderate-Income Customers with Free Home Charger
14 March 2019
COLCHESTER, Vt. – Green Mountain Power is launching a new way for Vermonters to cut carbon and fight climate change by driving electric. All GMP customers buying or leasing a new all-electric vehicle can now get a $1,500 rebate, new plug in hybrid customers can get $1,000, and customers getting pre-owned EVs can get a $750 rebate. Low and moderate income GMP customers can qualify for an extra $1,000 on all-electric vehicles for up to $2,500 in rebates. These are among the largest electric vehicle rebates offered to customers by any utility in the country. The GMP savings can be used in addition to dealer discounts already being offered plus up to $7,500 in federal tax credits.
“Our customers tell us they want to kick carbon to the curb, we want to help them. We are passionate about accelerating the adoption of cleaner driving to take on the largest source of carbon emissions in the state – fossil fuel burning cars and trucks,” said Mary Powell, President and CEO of Green Mountain Power. “There is an urgent need to act on climate change now and driving an EV can make a huge difference,” Powell said. GMP’s power sources are 90 percent carbon free and 60 percent renewable.
Vehicles qualifying for these discounts have to plug in and will have MSRPs of $50,000 or less. Households with one person can earn up to $50,000 and households with two or more people can make up to $85,000 and qualify for the extra $1,000 rebate. That low-and moderate-income rebate is only available for the first 150 customers to qualify, and all the rebate options will end December 31, 2019.
Participating dealerships like Freedom Nissan in South Burlington can apply your rebate directly to the sale price, enhancing Nissan’s $5,000 discount on the 100% electric 2019 Leaf for up to $7,500 off the MSRP, and when combined with up to $7,500 in federal tax incentives for some customers it could mean up to $15,000 in incentives on a new EV. “Customers love the Leaf and partnering with GMP just makes it easier for more customers to make the choice to drive electric and cut their carbon emissions. This added rebate is a great incentive,” said Robert Miller of Freedom Nissan.
GMP’s new EV and plug in hybrid incentives add to GMP’s already popular home charging program which gives customers a free Level 2 charger ($600) to install at home when they buy a new EV or plug in hybrid. Customers with the free chargers agree to let GMP access the charger during peak power demand times, to help cut carbon and costs for all GMP customers.
Dave Roberts of Drive Electric Vermont expects GMP’s new rebates to add to the growing popularity of green driving in Vermont where the number of electric cars increased 30% in the past year. “Electric cars cost less to drive than fossil fuel vehicles because charging up is like paying $1.50 a gallon for gas and there is less maintenance,” Roberts said. “Vermont is a great place to drive electric. Models with excellent travel range and all-wheel drive are now at dealers and we have a growing network of charging stations across the state. Once people discover the fun of driving electric they often tell their friends and family how easy it is to save money and join in this important choice in the fight against climate change.”
EV and plug in hybrid customers buying from non-participating dealers can still get the rebates by filling out a form on GMP’s website. You can learn all the details about GMP’s EV rebates, and participating dealers that can apply them directly to the purchase price, here.
Learn more about EV charging locations around Vermont.
About Green Mountain Power
Green Mountain Power (GMP) serves approximately 265,000 residential and business customers in Vermont and is partnering with them to improve lives and transform communities. GMP is focused on a new way of doing business to meet the needs of customers with integrated energy services that help people use less energy and save money, while continuing to generate clean, cost-effective and reliable power in Vermont. GMP earned a spot on Fast Company’s Most Innovative Companies in the World list three years in a row (2017, 2018, 2019). GMP is the first utility in the world to get a B Corp certification, meeting rigorous social, environmental, accountability and transparency standards and committing to use business as a force for good. J.D. Power’s 2018 rankings also put GMP among top utilities for customer satisfaction.