Federal EV, PHEV Tax Incentive May Increase To $10K

by Cameron Aubernon

February 4th, 2015 9:33 PM

federal ev phev tax incentive may increase to 10k

Is the $7,500 federal tax incentive not enough to consider owning a new green machine? If President Obama has his way, that figure could climb to $10,000.

The Detroit News says the increased incentive for purchasing an EV or PHEV — part of Obama’s FY 2016 budget — is not only meant to make ownership of such vehicles more alluring, but would be applied as an immediate rebate at the time of purchase. The new incentive would also bring other green vehicles into the fold, such as CNG vehicles.

Other proposals in the budget include a three-fold increase in funding for the National Highway Traffic Safety Administration, and a one-time corporate foreign earnings tax to help fund road and other infrastructure projects over the next six years.

#EVs #FederalTaxCredits #PHEVs #Rebates

Comments

Join the conversation

11 of 89 comments

Voyager on Feb 05, 2015

By the way, anything that could lower the West's dependency on import oil from such volatile regions as the Arab states I consider a blessing. Alternative energy sources can help tremendously in this respect. Having your own shale oil may be considered a strategic reserve for the future then.

Like Reply
- See 3 previous
- Chuckrs on Feb 05, 2015
  
  Alternative energy can help tremendously..... http://spectrum.ieee.org/energy/renewables/what-it-would-really-take-to-reverse-climate-change An account be two Google engineers tasked to a multi-year study of alternative energy with a specific focus on carbon.
  
  Like
- Highdesertcat on Feb 05, 2015
  
  @chuckrs My electriic bill has nearly tripled over the last four years from ~$50/month to now >$140/month, all because we're forced to pay for renewable energy sold to the Texas grid at El Paso, TX. And BTW, our electricity is still as flaky as ever, with just as many brownouts, interruptions, glitches and spikes as before. I still have to keep three AC generators ready for power failures. IOW, I haven't gained a damned thing for all the extra money I am forced to pay. But the cost of my UPS batteries have skyrocketed!
  
  Like
- Chuckrs on Feb 05, 2015
  
  @highdesertcat HDC I tried to keep the IEEE link neutral as possible, but - spoiler alert - carbon-conscious Google found no way forward short of a disruptive technology - not wind, not solar. In RI, I will pay my portion of the $0.23/kwh for offshore wind and expect a similar experience to yours. You can thank T Boone.
  
  Like
- Highdesertcat on Feb 05, 2015
  
  chuckrs, I wouldn't mind the extra cost IF we in Southcentral NM would benefit from it. But we don't. The increase in the cost of electricity is less than what it costs me to run my three AC generators in fuel every Sunday from noon to 6pm, but with the flaky electrical service, this is what many of us are reduced to; our own auxiliary power generation. We factually have acres and acres of solar in the desert and numerous windfarms, yet all of that electricity is 'exported'. In fact, a brand new power transmision line called SunZia is being built right now, not to benefit us, but to benefit AZ, TX, CO, and Western OK.
  
  Like
Big Al from Oz on Feb 05, 2015

The US and US Government wants cheap energy. Now it's competing against itself because of cheap energy? Who's paying for this pathetic logic. Ah......the consumer.

Like Reply
Chocolatedeath on Feb 05, 2015

Well if someone would offer me a six cylinder diesel plug in extended range in a CUV I would take it.Make it as light as possible and about the size drivers characteristics of my CX9 with 35mpg overall. Yes I would take it.

Like Reply
- See 2 previous
- Bball40dtw on Feb 05, 2015
  
  A six cylinder, diesel (probably turbo charged), AWD, plug in CUV is going to weigh darn near 5000 lbs.
  
  Like
- SCE to AUX on Feb 05, 2015
  
  @bball40dtw And cost $70k+.
  
  Like
- Dal20402 on Feb 06, 2015
  
  If you want anything near the driving characteristics of your CX-9 and anything near reasonable cost, the plug-in will have a small and light (which means gas) four-cylinder range extender. The plus side is you'd get a lot more than 35 mpg overall.
  
  Like
Jerome10 on Feb 06, 2015

10k?? Why not just make the car free? It's for a good cause right. We have the money. Getting tired of this stuff. If this tech were so great then it should sell on its own. It's not so it doesn't. Other question : why so much silly focus on electric cars anyway? Wouldn't Natura gas vehicles make much more sense in the USA? Easy conversion from existing gas engines to NG, no environmentally terrible metals and chemicals, clean clean burning fuel instead of coal or nuclear power, fast fueling with existing infrastructure, and the USA has a ton of it. Just seems to me it would make far more sense and make a much bigger impact more quickly than pushing electric cars. My guess? Natural gas isn't "Sexy" like electric technology and so it's paid no attention. Am I wrong?

Like Reply