Two new financial incentives can help Vermonters with the cost of purchasing e-bikes!
The State of Vermont has incentives of up to $400 towards the purchase of an e-bike. Details here: State of Vermont E-Bike Incentives and One Page VT eBike Incentive Program Terms and Conditions. In addition, [some] Vermont utility companies are offering [up to] $200 towards the purchase of an e-bike. These don’t include people who are not customers of those utilities, either because they rent and their names are not on the electric bill for their residence or because they live “off the grid.” Learn more about utility incentives here.
The State of Vermont program has features that make it better than many rebate programs. These include:
- No tax documentation is required up front! Fill out this Vermont Purchase attestation form. Applicants simply report their income levels. VTrans will audit a subset of randomly chosen applications; if your application is audited, you can provide tax info OR authorize the State of VT Tax Dept. to release state tax info to VTrans.
- The state Incentive stacks on top of existing utility incentives! Therefore up to a total of $600 can be taken off at the cost of your e-bike.
- If you buy your e-bike from a participating retailer (in Upper Valley, Red Clover Bikes and VT Bike & Brew), the incentive can be taken “at point of sale” – meaning, you lop it off the purchase price instead of waiting for a rebate!
- Depending on your income, there are TWO TIERS of assistance: $200 or 30% of the e-bike cost, or $400, not exceeding 50% of cost (see Income/Incentive chart).
- If you are willing to wait for a rebate (and apply within 60 days of purchase), the incentive also may be used to:
- purchase a bike online!
- purchase a bike at a NH retailer or a Vermont retailer not in the participating retailer list.
- purchase a ‘regular’ bike that is fitted with a conversion by a bike shop if the conversion is done at the time of the purchase, with the bicycle and conversation kit on the same receipt
The e-bike you purchase must have a motor that is 750mw or smaller. This ensures that the incentives are used for e-bikes rather than electric motorcycles.
Wondering what kind of e-bike can work for you? Sign up here for a free consultation with Dave Cohen at VBikes!
Would you like to become a participating retailer? Email VTebikes@energycenter.org!