President Obama's recently released new budget plan includes lots of incentives for cleantech industries and reportedly an exciting $10,000 rebate for electric vehicle purchases.
Currently, if you purchase an all-electric vehicle, you are eligible for a $7,500 tax credit that you receive when you file your taxes for that year, but this new rebate program would allow consumers to slash $10,000 off the top of the cost of an electric car, right at the time of purchase. That's a huge incentive for drivers who are on the fence and would likely support some large gains in sales of those vehicles.
Many of the first crop of mass market EVs are still in a price range that is just beyond what most consumers want to pay for a sedan or compact car, but with this rebate, the Chevy Volt would go from $41,000 to $31,000; the Nissan LEAF would go from $36,000 to $26,000 and the newest to hit the market, the Mitsubishi i, would drop to under $20,000. Those are prices that would be much more appealing to a wider base of consumers.
The rebate would apply to other alternativ-fuel vehicles, too, like natural gas, hydrogen fuel cell or other high-tech green vehicles.
Though it's hard to hold out hope for things like this to make it through a very tough Congress, it's pretty exciting to think of the impact a rebate would have on the EV market.
via Gas2.org
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written by learner, February 17, 2012
What are the differences between electric cars vs natural gas fuel vs hyfrogen fuel..etc regarding environmental impact, energy usage, cost..? What is the best overall choice?
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written by WulfTheSaxon, February 18, 2012
@learner
Here’s a comparison of the only stock compressed natural gas car available in the US, the Honda Civic: http://www.fueleconomy.gov/feg...1&id=30627
It’s the cheapest to drive of the three, yet its greenhouse gas emissions are somewhere between the conventional and hybrid models. I’ll leave it as an exercise for you to figure out whether you could use the cost savings to buy carbon offsets and come out ahead of the hybrid.
Hydrogen (whether fuel-cell or internal combustion) is rather impractical at the moment, and there are no cars on the market that use it, so only broad estimates can be made (something I won’t attempt to do here).
IMHO, the best overall choice is electric (or plug-in hybrid). In the short-term, parallel hybrids also still make sense. Here’s a comparison of some good cars: http://www.fueleconomy.gov/feg...0&id=30919
Here’s a comparison of the only stock compressed natural gas car available in the US, the Honda Civic: http://www.fueleconomy.gov/feg...1&id=30627
It’s the cheapest to drive of the three, yet its greenhouse gas emissions are somewhere between the conventional and hybrid models. I’ll leave it as an exercise for you to figure out whether you could use the cost savings to buy carbon offsets and come out ahead of the hybrid.
Hydrogen (whether fuel-cell or internal combustion) is rather impractical at the moment, and there are no cars on the market that use it, so only broad estimates can be made (something I won’t attempt to do here).
IMHO, the best overall choice is electric (or plug-in hybrid). In the short-term, parallel hybrids also still make sense. Here’s a comparison of some good cars: http://www.fueleconomy.gov/feg...0&id=30919
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written by Ilya Kipnis, February 19, 2012
Okay, so if I would buy an EV, are you saying that A) I'd get $10k off right at the time of purchase AND B) I could deduct $7,500 from my income for having purchased an EV?
AKA when all is said and done, I get $17,500 off an EV?
AKA when all is said and done, I get $17,500 off an EV?
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written by Vitaly, February 20, 2012
Ener1—an electric car manufacturer who received $118 million from the Obama Department of Energy—went bankrupt two weeks ago. Fisker Automotive is downsizing and firing workers because the stimulus money that supported their green jobs ran out. Its battery supplier and fellow stimulus recipient A123 will also be down-and-out if Fisker goes. Even while the industry continues to receive tax credits for electric car sales, electric car manufacturers Aptera and Think both went bankrupt this month.
http://www.globalwarming.org/2012/02/16/presidents-budget-doubles-down-on-eco-car-fiasco/#more-13073
http://www.globalwarming.org/2012/02/16/presidents-budget-doubles-down-on-eco-car-fiasco/#more-13073
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written by Steve, February 20, 2012
The Obama administration has some nerve proposing electric vehicle "rebates".. Who pays for this rebate. GM? Nissan? No, the US taxpayer. I wish the WH and Capitol Hill would mind their own business.. and stay out of Detroit's. Let the free market motoring public decide what mode of transport fits their needs.. and pocketbook.
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written by Fencerdave, February 21, 2012
Ilya-
I believe that the tax credit and rebate do stack, but it doesn't sum up to 17,500. There is the actual 10k rebate, but the income tax incentive wouldn't give you 7500 unless you were taxed at 100 percent. Presuming around 25 percent tax rate you're looking at 1,875 from the tax break.
Steve-
The U.S. taxpayer pays for the rebate. More directly, the U.S. taxpayer who runs a gasoline-powered vehicle pays for it. Seems to only go a step towards being fair, as the petrolhead is polluting the electric car driver's air and pays no other reparations.
I believe that the tax credit and rebate do stack, but it doesn't sum up to 17,500. There is the actual 10k rebate, but the income tax incentive wouldn't give you 7500 unless you were taxed at 100 percent. Presuming around 25 percent tax rate you're looking at 1,875 from the tax break.
Steve-
The U.S. taxpayer pays for the rebate. More directly, the U.S. taxpayer who runs a gasoline-powered vehicle pays for it. Seems to only go a step towards being fair, as the petrolhead is polluting the electric car driver's air and pays no other reparations.
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written by Jan Stephens, February 27, 2012
Hopefully we will have a new generation of batteries soon. I'm a fan of every eco-friendly technique and I support many green energies but seriously: We need a higher mileage for electric cars! Otherwise they will never be practical for the biggest part of society.
Anyway, since then I really suggets looking for hybrid cars.
Anyway, since then I really suggets looking for hybrid cars.
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written by Lori, February 28, 2012
This is excellent. The most important thing is to stop the climate forcings that are taking place as we speak. Please read The Storms of Our Grandchildren.
Nothing will matter if our planet becomes intolerable. There will be nothing without air and drinking water. The more cars bought the more the price will go down.
Imagine clean air. Thats all you can do now...think about it when you can actually breathe fresh air.
Nothing will matter if our planet becomes intolerable. There will be nothing without air and drinking water. The more cars bought the more the price will go down.
Imagine clean air. Thats all you can do now...think about it when you can actually breathe fresh air.
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written by Todd Edelman, February 29, 2012
Incentivizing better mobility is a good thing, but this does not mean that giving money to people who buy private urban cars (with limited range) is a good thing.
Now, if they subsidized people who generated their own juice (so also gave money for solar power) it would be better, but also the other petrol or diesel alternatives as mentioned could be studied.
And also a lot of short urban trips including carrying children can be done easily and safely with the new generation of cargo bikes but these can cost 3000 dollars with accessories, and a large family might want two of them. So why no rebates here?
In some cities in Europe, people who sell their cars receive free multi-year transport passes...
Now, if they subsidized people who generated their own juice (so also gave money for solar power) it would be better, but also the other petrol or diesel alternatives as mentioned could be studied.
And also a lot of short urban trips including carrying children can be done easily and safely with the new generation of cargo bikes but these can cost 3000 dollars with accessories, and a large family might want two of them. So why no rebates here?
In some cities in Europe, people who sell their cars receive free multi-year transport passes...
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written by flight training, March 05, 2012
now if they would make normal looking electric vehicles i would be exited, but seriously why do electric and eco cars have to be so uggly, why does one has to drive a ugly ufo shape car to save the enviroment, can they just design an electric Chevy Camaro or Cadilac CTS or something just normal
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written by Larry Bowman, March 16, 2012
Look at facts. You must make over 150k to qualify for $7500 tax credit. The local chevy dealer has one Volt on lot for 47K plus taxes. The presidents budget isn't nothing more than a political joke for the stupid.
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written by Deb B, March 18, 2012
I love the idea of electric cars, however, though they themselves do not emit CO2, unless the power source at your refueling station (most often the driver's home) is using only green energy, you are still contributing to carbon emissions. Also, since these credits do not make this affordable enough for a family of average income (60,000 for family of four) or below it really does not address the problem. We really need to be moving to all power being generated by alternative sources. A program that allowed lower-income home owners to convert to solar or commit to their power companies programs for alternative energy at much lower cost would go much further to lowering carbon emissions.
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written by Robert, March 22, 2012
Instead of having the rest of the american taxpayers subsidize individuals to buy these cars, why don't we provide incentives to the auto manufacturer's to develop a plug-in electric car that is really affordable and desirable. If we have to provide a $10k rebate just so people will buy them, it is clear that the vehicle is not worth its retail price. In other industries, having a product that costs too much leads to not selling the product = out of business.
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written by Bernard the green jobs guru, April 09, 2012
This is great news for the EV manufacturers like Tesla (50 open jobs), Bright automotive, Coda (55 open jobs), Smith Electric and United Streetcar; and EV charging station companies like Better Place, Coulomb and evGo (8 open jobs); not to mention EV battery makers like A123 Systems (44 open jobs), Pellion (4 open jobs) and Leyden Energy (5 open jobs).
It was a long shot for Aptera and Think, and maybe Fisker. Starting a car company is quite a complicated endeavor.
It was a long shot for Aptera and Think, and maybe Fisker. Starting a car company is quite a complicated endeavor.
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