2018/19 Budget Communication 2018_2019 BUDGET COMMUNICATION | Page 88

Advancing Objectives Environmental and Energy-efficiency The government maintains as a policy priority the need to embrace technologies that reduce the national need for the import and use of fossil fuels and those which maximize renewable energies. In addition to the reduction in duties related to import of solar energy components, this Government is undertaking the following: • we are reducing the excise duty on electric and hybrid vehicles valued at $50,000 and under down to 10 per cent; • we are reducing the excise duty on electric motorcycles down to 10 per cent; • we are reducing the excise duty on new smaller vehicles up to 1500cc in engine size down to 25 per cent; for clarity this applies to new vehicles only. 85