Efficiency Maine Increasing Rebates on Electric Vehicles

According to an article on the WCSH 6 website, some Mainers could see get more money back when they buy an electric vehicle.

The article explains that Efficiency Maine Trust is boosting its electric vehicle rebate program with an extra $1,000 bonus available through September 30, a move aimed at keeping EV interest alive after federal tax credits ended last fall.

The program, which once offered rebates to all applicants, is now limited due to funding. Michael Stoddard explained that current incentives are focused on low- and moderate-income residents, along with businesses and nonprofits.  Qualifying low-income Mainers can receive up to $8,000 for a new EV or $4,000 for a used one, while moderate-income households earning up to $70,000 annually, or $100,000 for couples, can get $6,000 for new vehicles and $3,000 for used.

Since launching in 2019, the initiative has delivered more than 2,000 rebates. Stoddard said the goal is to put more efficient, climate-friendly vehicles on Maine roads, and he urged anyone even slightly interested to explore the program, noting that rising gas prices could translate to roughly $1,000 in yearly savings for drivers who make the switch.

Maine has set a target of 150,000 electric and hybrid vehicles on the road by 2030, though current numbers sit around 22,000. Stoddard noted that interest has dipped since federal incentives disappeared, but said increased promotion of the rebate program could help reverse that trend.

He also pointed out that most Mainers tend to buy used cars, which has slowed EV adoption since the secondhand market is still catching up. However, Stoddard said a wave of off-lease electric vehicles is expected to hit the market soon, which should drive prices down and make EVs more accessible for everyday buyers.

Stoddard added that elevated gas prices are beginning to spark renewed interest in electric vehicles. He also said that as Maine continues expanding its charging network, now with more than 650 public stations statewide, drivers may feel more confident making the transition. While he described the state’s 2030 goal as ambitious, Stoddard said he remains optimistic as EV adoption continues to build momentum.