New Purchaser Agreement and Tax Credit Rules
On Monday, Efficiency Maine made several changes to the electric vehicle rebate program, most notably increasing the any-income rebate amount to $1,000 for plug-in hybrids and $2,000 for battery electric vehicles. To reflect the new rebate amounts, we released an updated Efficiency Maine Purchaser Agreement. Please use this updated version for all rebate-eligible vehicle sales and leases going forward.
Additionally, 1/1/2024 was the first day of the new IRS Clean Vehicle Tax Credit rules, which require that the tax credits be initiated and approved at the time of sale using the IRS Energy Credits Online website. Vehicle eligibility requirements for the Clean Vehicle Tax Credits also changed; you can find the new list of eligible vehicles at fueleconomy.gov.
Finally, January 15 is the deadline for reporting your 2023 sales of vehicles that qualify for the Clean Vehicle Tax Credit. See the IRS website for details.
Thanks for your attention to these changes.