The Electric Vehicle Workplace Charing Station Loan Program is operated by the Vermont Economic Development Authority (VEDA) working in conjunction with Green Mountain Power (GMP). Electric vehicle charging stations are available for profit or not-for-profit businesses, municipalities, or individuals owning or leasing a business property to an otherwise eligible business and installing a new EV Charging station(s). These include individuals, sole proprietors, LLCs, corporations, cooperatives, not-for-profits, and municipalities.
Eligible applications must be customers of GMP or another electric utility with a similar EV charging station program that is acceptable to VEDA. Eligible projects may include the purchase and installation of EV charging equipment and connection to the utility.
The loan may fund up to 80% of the project cost at a max of $25,000. Interest rates will be fixed at 4% for terms of 3 years and fixed at 5% for loans with a longer term (max of up to 5 years).
| Implementing Sector: | State |
| Category: | Financial Incentive |
| State: | Vermont |
| Incentive Type: | Loan Program |
| Web Site: | https://www.veda.org/financing-options/vermont-commercial-financing/ev-charging-station-loan-program/ev-workplace-charging |
| Administrator: | Vermont Economic Development Authority |
| Start Date: | |
| Eligible Renewable/Other Technologies: |
|
| Maximum Loan: | $25,000 |
| Loan Term: | Maximum loan term of up to 5 years |
| Interest Rate: |
4% for 3-year loans 5% for longer terms (max 5 years) |
| Name: | Vermont Economic Development Authority |
| Address: |
VT |
| Phone: | (802) 828-5627 |
| Email: | EV@veda.org |
This information is sourced from DSIRE; the most comprehensive source of information on incentives and policies that support renewables and energy efficiency in the United States. Established in 1995, DSIRE is operated by the N.C. Clean Energy Technology Center at N.C. State University.
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