RMLD: Learn About Available Incentives To Reduce The Purchase Price Of A Plug-In Electric Vehicle

READING, MA — Plug-in electric vehicles (PEVs) are increasing in popularity due to their environmental benefits as well as significantly reduced fuel costs for PEV owners. It’s also a great time to buy because there is a plethora of available federal, state, and local incentives which significantly decrease the purchase price of an EV.

The federal government currently offers a credit of between $2,500 and $7,500 depending on the capacity of the PEV’s battery. Visit https://www.irs.gov/credits-deductions/individuals/plug-in-electric-drive-vehicle-credit-section-30d to learn more.

Massachusetts offers a rebate of between $1,000 and $2,500 on plug-in electric vehicles through their MOR-EV program. The amount of the rebate depends on the make and model of the vehicle. Visit https://mor-ev.org/for details.

Massachusetts residents are also eligible for incentives through Mass Energy Consumers Alliance’s Drive GreenProgram, which works with dealerships to provide discounts on the purchase of a PEV. The amount of the discount depends on the dealership as well as the make and model of the vehicle. Visit https://www.massenergy.org/drivegreen for more information.

Finally, RMLD residential customers are eligible to participate in RMLD’s summer plug-in electric vehicle pilot rebate program which offers a $1,500 rebate for the lease or purchase of a new or used Battery Electric Vehicle, and a $1,000 rebate for the lease or purchase of a new Plug-In Hybrid Electric Vehicle PLUS. Customers must take delivery of the vehicle by October 31, 2018 to qualify. For more information, visit https://www.rmld.com/electric-vehicle-rebate-programs.

Want to learn more about PEVs and available incentives? Stop in to RMLD’s Plug-in Electric Vehicle Ride and Drive Event on Sunday, July 15, 2018 from 10:00 am – 2:00 pm in the Swain Green parking lot, which is located at the corner of Middlesex Avenue and School Street in Wilmington across from the Town Common.

This is the fourth in a series of articles RMLD will publish this summer regarding plug-in electric vehicles. Be on the lookout for our next article: PEV Performance – What to Expect When You Drive Electric. Visit https://www.rmld.com/electric-vehicle-rebate-programs/pages/electrify-your-ride-article-series to view the complete series of articles.

(NOTE: The above article is from Reading Municipal Light Department.)

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