Vermont Business Magazine More Vermonters than ever have made the switch to an electric vehicle, taking advantage of incentives and the many cost-saving advantages of driving electric.
What’s all the buzz about? This is the week to find out all about plug-in electric vehicles (EVs) as Vermont joins states across the United States to celebrate National Drive Electric Week.
Drive Electric Vermont is a proud supporter of this annual campaign. In addition to supporting educational events during Drive Electric week, Drive Electric Vermont provides consumers with the latest EV information through its website year-round, connecting Vermonters with a wealth of resources about electric vehicles to help them make informed choices about their transportation future.
“Drive Electric week is always a fun time of year, and an important way to make EVs ‘real’ for people,” said Dave Roberts, Drive Electric Vermont Coordinator. “This week’s events are a chance to get an close up look at EVs and talk to neighbors who’ve made the switch, to determine whether an EV is right for you.”
EV Affordability
Buying an EV is getting easier thanks to government and utility incentives:
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State Incentives — the State of Vermont allocated $2.7 million for additional incentives in June 2021. Depending on the type of vehicle and annual income, buyers may qualify for up to $4,000.
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Utility Incentives — incentives, bill credits, and rebates on plug-in hybrid and all-electric vehicles vary by utility.
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Federal Incentives — up to $7,500 depending on the size of the battery, vehicle manufacturer, and your annual tax liability.
Car dealers often offer their own incentives in addition to government and utility incentives to further lower the purchase price.
The savings continue after an EV purchase, as driving on electricity is the equivalent of about $1.50 gallon gasoline in Vermont, with several utilities offering off-peak EV charging rates to reduce this cost even further. EVs also have significantly reduced maintenance costs. All told, Consumer Reports has estimated EVs can save drivers more than $10,000 over the life of a vehicle.
As EV prices start to go down, the driving range of EVs is consistently increasing. Some models are able to travel more than 300 miles on a single charge. Vermont’s charging infrastructure is also expanding to make long distance travel easier. And, many EVs are now available with all-wheel-drive, ready to handle winter driving conditions.
To learn more about financial resources and EV benefits, visit www.driveelectricvt.com.
Good for Vermont
The more Vermonters who make the switch to an EV, the faster Vermont will be on its way toward meeting important climate goals and strengthening the economy.
According to a recent report by the Vermont Energy Action Network (EAN), 74 percent of Vermont’s carbon emissions come from the transportation and thermal sectors. More efficient transportation and heating, including EVs, and increased weatherization are critical to bringing those emissions down.
There are economic benefits too. According to the EAN report, a large-scale shift from imported fossil fuels to more efficient and low-carbon sources (primarily electricity) for transportation and heating over the next 15 years could cumulatively:
• Prevent over $1.1 billion from draining out of the Vermont economy
• Save Vermonters nearly $800 million
• Create jobs with $300 million in new in-state investment
There are lots of reasons for Vermonters to be excited about EVs, and during Drive Electric Week many opportunities to learn more. Drive Electric week begins Saturday, Sept. 25 and concludes Saturday, Oct. 2.
Find an event near you at: https://www.driveelectricvt.com/events.
Drive Electric Vermont is a statewide public-private partnership of policy makers, industry leaders, and ordinary citizens accelerating transportation electrification in the green mountain state.
Source: September 23, 2021 – Winooski, VT – Drive Electric Vermont