vermont introduces gas vehicle buyback program

Vermont has started a gas vehicle buyback program, “Replace Your Ride,” giving owners $3,000 for their old gas vehicles.

According to VTDigger, the State of Vermont has introduced a gas vehicle buyback program called “Replace Your Ride.” The program will give owners $3,000 to surrender their gas vehicle that is ten years old or older, with the intention of helping people purchase electric vehicles in the future.

Vermont has been a leader in EV adoption in recent years, and according to the State’s governor, they now lead the country in EV chargers per capita. And in continuing the public’s adoption of electric vehicles, Vermont has introduced numerous electric vehicle incentives.

Other than the “Replace Your Ride” program, Vermont has a state EV incentive of $4,000 if you make less than $50,000 annually or $2,500 if you make less than $100,000 annually. Furthermore, Vermont has been running a “high-efficiency vehicle” incentive for years now, known as “MilageSmart.” MilageSmart gives owners up to $5,000 to purchase a used hybrid or electric vehicle. On top of this, Vermonters can apply for an incentive from their Utility company, Green Mountain Power, which will give them up to $2,500 to purchase an electric vehicle.

With this large assortment of incentives, Vermont’s State Legislature claims that their State offers the “highest incentive targeted to lowest-income.”

While some question if the $3,000 will be enough incentive for drivers not just to try to sell their vehicle, the funds may be most helpful for those with particularly old cars. And because older vehicles generally pollute more than newer ones with tighter emissions requirements, it may still prove to be a helpful tool to get older cars off the road and into recycling.

As more and more gas vehicles are phased out of use and EVs take their place, more state governments may be forced to implement programs similar to Replace Your Ride to meet their carbon emissions goals. In all likelihood, state governments may also have to consider end-of-life placement for all the gas vehicles that will be taken off the road; where will all the gas vehicles go when they are finally out of use?

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Keyword: Vermont introduces gas vehicle buyback program

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