8/9/24 Program Changes: MSRP cap increase, new claim form, and more

On August 9, 2024, Efficiency Maine made the following changes:

1. Replaced EV Purchaser Agreement with EV Rebate Claim Form.
2. For eligible new vehicles, increased the maximum MSRP cap from $50,000 to $55,000.
3. For eligible used vehicles, updated the price cap from an original MSRP of no more $50,000 to sold at a final purchase price of no more than $40,000.
4. Phased out enhanced rebates for business fleets of five or more vehicles.
5. For leased vehicles, introduced a requirement that rebate documentation show length of lease term.
6. Increased rebate amount for Governmental Entities purchasing work vans from $7,500 to $8,000.
7. Simplified Eligible Vehicles List to include both new and used eligible vehicles.
8. Removed EV rebate program end date (previously 12/31/2024).
9. Requests EV dealers who would like to remain listed as Participating EV Dealers, sign the Efficiency Maine EV Dealer Agreement Form.

These new changes apply to vehicles purchased on or after August 9, 2024.

We hope these changes help you sell and lease more electric vehicles. Please let us know if you have any questions.