article thumbnail

Belfer Center Study Concludes Reducing Car and Truck GHG Emissions Will Require Substantially Higher Fuel Prices; Income Tax Credits for Advanced Alt Fuel Vehicles Are Essentially Ineffective at Reducing Sector Emissions

Green Car Congress

Strong income tax credits for the purchase of new diesel, hybrid, and plug-in hybrid vehicles are very expensive and essentially ineffective at reducing GHG emissions from transportation. million barrels per day, relative to 2008 levels. Second, the tax credits give a significant boost to diesel vehicles.

article thumbnail

Fixing the Federal EV Tax Credit Flaws: Redesigning the Vehicle Credit Formula

EV Adoption

The Qualified Plug-In Electric Drive Motor Vehicles (IRC 30D) tax credit – commonly referred to as the “Federal EV tax credit” has a number of flaws, but one of the biggest is the poorly-designed formula that determines the amount of the tax credit available for each BEV and PHEV sold in the US.

article thumbnail

Tesla Takes 520 Reservations for Model S in a Week

Green Car Congress

Since the launch on 26 March, Tesla Motors has taken 520 reservations for the Model S, an all-electric family sedan that carries up to seven people and travels up to 300 miles per charge. The anticipated base price of the Model S is $49,900 after a federal tax credit of $7,500. The $5,000 reservation fee is refundable.

article thumbnail

Cash for Volts?

Revenge of the Electric Car

More details at: Group Seeks US Tax Credits To Spur Electric Car Use. to offer tax credits for buying all-electric plug-in vehicles as part of a $128 billion program to get seven million such cars on the road by 2018. UPDATE:Group Seeks US Tax Credits To Spur Electric Car Use. by Judith Burns for Dow Jones.

Volt 100
article thumbnail

Partner Update and Announcement

Plug In Partners

Although consumer tax credits for PHEVs enjoyed bipartisan support in both houses of Congress, concerns over other tax portions of the energy bill resulted in the entire tax package being removed from the original bill. The bill, HR 5351 includes a credit for plug-in hybrid electric vehicles. The bill (H.R.

article thumbnail

Senators Kerry and Lieberman Release Details of Energy and Climate Bill; Incentives for Electric Drive and Natural Gas Vehicles

Green Car Congress

According to the recently finalized Inventory of US Greenhouse Gas Emissions and Sinks: 1990-2008 , net US GHG emissions in 2008 were down 2.7% Now mindful of the Deepwater Horizon accident in the Gulf, the bill allows coastal states to opt-out of drilling up to 75 miles from their shores. compared to 2005 levels.).

article thumbnail

NYC Goes EV

Revenge of the Electric Car

From the article: ‘The New York study anticipates that by 2015, electric vehicle prices should decline because of reduced battery costs, that there will be a sufficient supply of electric vehicles to purchase, and that consumers will take advantage of the existing federal tax credit of $7,500 for new electric cars. If by 2015, 2.5