House slices into plug-in hybrid tax credit
$3000 - $5000The House of Representatives has passed a tax credit for plug-in hybrid vehicles as part of H.R 6899. The credit offers $3000 for 5 kWh plug-ins. For every kWh above 5, the credit offers an additional $200 up to a maximum of $5000. Like the same tax credit system that gave Toyota a $3,000 credit for the Prius, the total full credits would be 60,000, then the credit would be cut in half and then quartered.
Still, no reason to get too excited about the details yet. The Senate has yet to put its finger prints on this bill.
posted by Dahcredyns at
5:41 AM
6 Comments:
Hmmm. Only 3,000? I wonder if you can get the credit by performing a conversion on an existing Prius? I can convert one for about 6K and the battery pack contains 5kWh.
Otherwise, this bill is useless as NO manufacturer offers a plug in hybrid vehicle at this time.
IF a company like Toyota would ramp up production of plug in Prius', then I think the economies of scale would let the 3000 bucks offset the increased MSRP.
I'm pretty sure that its only for new vehicles, so conversions wouldn't apply.
Also, from testimony that toyota gave on this issue, it appears that Toyota might not meet the kWh requirement.
So where does the Volt fall? Probably exactly 5kw, thus the buyers get tax credits for buying the Chevy and not the rest. Sounds like Lobbyists work a bit there?
The Volt battery is 16 kWh so it will be eligible for the full credit. GM wan't this credit to be 7500.
Still, Bush ripped on this bill and the House hasn't yet touched it, so anything - even no credit - is still possible.
And I heard the Aptera, a rediculously efficient vehicle, wouldn't qualify either.
We just have to really get past looking for help from our government. We have to do it because they are more efficient financially, environmentally, and it's the right way to go in the Automotive industry. There really isn't a real desire of the Government to get away from whoring oil. We have to do it for ourselves, and hope in the long run we win out.
no doubt the government isn't very efficient at anything.
still, i'm not against this credit, but I think there should be two credits - but consumers can only take one - one for electric vehicles and one for mpg.
so that 5 kwh should be worth some similar mpg equivalent.
still, if the government really wants to help, they should put a floor on gasoline prices, add a gas tax or something. that would be the most effective way of achieving real results. of course it's also political suicide.
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