Friday, July 12, 2024

Vermont launches incentives to replace ICE cars with electric vehicles

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The State of Vermont is rolling out a new incentive to consumers to replace their Internal Combustion Engine (ICE) vehicles with new or used Plug-in Electric Vehicle (PEV) vehicles.

The Replace Your Ride program is available to eligible Vermont residents based on who comes first, and depends on the availability of available funds.

If these funds are exhausted, the State incentives under this program will not continue. Based on the official announcement found by Electrek, the terms and conditions of the program are subject to change at the discretion of the Vermont Agency of Transportation (VTrans).

The Replace Your Ride (RYR) incentive will be processed by the administrator, Center for Sustainable Energy (CSE). Consumers need to work closely with participating dealers to take part in this program.

The first phase of the RYR program was launched on September 14, 2022. The second phase for the RYR program is currently under development and will offer additional transportation options to eligible applicants this fall.

The following are the conditions that consumers need to pay attention to when they want to get this RYR intensive:

Consumer Eligibility

  1. Program incentives are only available to residents of Vermont – a valid Vermont driver’s license is required as proof of residency.
  2. The Replace Your Ride incentive is limited to one per individual for the duration of the program.
  3. Incentive eligibility includes income requirements based on adjusted gross income (AGI) reported on your most recent tax return and your tax reporting status (e.g. single, joint marriage filing, etc.).
  4. Vehicle Scrapping must be carried out in conjunction with the purchase of an eligible New/Used vehicle at a participating dealer.

Used Vehicle Eligibility

  1. The ICE vehicles replaced are passenger vehicles with a vehicle gross weight of 10,000 pounds or less.
  2. ICE vehicles are at least 10 years old from the current year.
  3. The disassembled ICE vehicle can travel thirty (30) feet back and forth on its own power without any assistance.
  4. The ICE vehicle can be disassembled easily through the usual means without any assistance.
  5. The discarded ICE vehicle is currently registered with the applicant at the Vermont Department of Motor Vehicles. The name on the registration must match the name of the applicant.
  6. Discarded ICE vehicles have been registered with the state of Vermont at least two years prior to the application date.
  7. ICE Vehicles is the latest on all vehicle registration fees for the State of Vermont.
  8. Discarded ICE vehicles have an approved inspection sticker dated within the past year.

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