Tax credits for plug-in's a done deal
Will a Prius plug-in qualify?Tax credits for plug-ins are now a done deal, as the President has promised to pass the bailout bill that Congress has now approved. Plug-ins with at least a four-kilowatt battery pack will qualify for a credit ranging from $4,168 to $7,500 depending on the number of kWh's in the battery pack.
It is know that the Chevy Volt will qualify for the entire $7,500.
Originally, Toyota was against this bill, but the company seemed to change its tune when the kWh battery requirement was reduced. So, it appears plug-in hybrids, such as the Toyota Prius, will also qualify for this credit.
Labels: chevy volt, Congress, hybrid tax credits, toyota prius
posted by Dahcredyns at
10:50 AM
4 Comments:
Here are some details about the bill:
http://gm-volt.com/2008/10/03/along-with-wall-street-bailout-plug-in-car-tax-credit-is-passed-chevy-volt-now-7500-less/
"This provision provides a tax credit for buyers of plug-in electric vehicles. It provides a base of $2500 plus an additional $417 per kwh for batteries greater than 4 kwh. For the Chevy Volt, that works out to $7500 per car, a number GM had lobbied for.
The credit will be applied to the first 250,000 plug-in cars sold in the US and will be phased out to 50% for the following two quarters, and 25% for the two quarters after that before ending. The total cost of the credits will be $758 million."
From my perspective, this looks like a straightforward formula that parallel hybrid engineers can plug into their design analysis. If it leads to bigger batteries at the same cost, we all win. Greater fleet MPG, quicker economies of scale, potentially quicker industry investment in larger batteries, etc.
Those numbers conflict with what some others are reporting, such as the DetroitNews.
"The provision would grant all-electric vehicles or plug-in models with at least a four-kilowatt battery pack a $4,168 credit."
I haven't yet read that part of the bill.
Can i get the credit to transform my current priuses to plug in?
i haven't read the latest iteration of the bill, but the original, if i'm not mistaken, was only for new vehicles, and would not include conversions.
stupid, huh?
i bet if one of the big 3 offered the dominant conversion kit, conversions probably would have been included in the bill.
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