Electric Vehicle Rebates
Table of Contents
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.
Costco: Chevy Bolt EV ($3,000)
From October 1, 2020 through January 4, 2021, Costco members who purchase or lease an eligible new 2020 or 2021 Chevrolet model January 4, 2021, can receive a $3,000 incentive on Chevrolet Bolt EV. Terms and conditions apply.
Key Chevrolet & Alderman Chevrolet: Bolt EV ($2,596 to $2,992)
We are pleased to announce that Key Chevrolet in South Burlington and Alderman Chevrolet in Rutland are offering their own employee discount to Burlington Electric Department customers on new Bolt EVs. The discount ranges from $2,596 to $2,992 depending on which features you choose.
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 Rebate (Up to $5,000)
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 download forms at Drive Electric.
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).
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.
Terms & Conditions
- The MSRP must be $50,000 or less. MSRP is the cost of the vehicle with all included features before taxes.
- Please see 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 May 30, 2017.
- Plug-in hybrids must have been leased or purchased on or after June 8, 2017.
- 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.