Remove Chevrolet Remove Hybrid Remove PHEV Remove Tax Credit
article thumbnail

Which EVs Still Qualify for Federal Tax Credits?

The Truth About Cars

With the guidance having come in on the United States’ updated EV tax credit scheme, outlined in the so-called Inflation Reduction Act, we now have a pretty good idea of which electric vehicles still qualify. But it’s kind of a clunky interface so we’re just going to list them here for you.

article thumbnail

Colorado Electric Vehicle Tax Credit Rises to $5,000

EV Life

The bill puts forth several measures aimed at advancing decarbonization in the state, including tax credits for industrial facilities to implement emission-reducing improvements, new spending for geothermal energy projects and geothermal electricity generation, the construction of sustainable aviation fuel production facilities, and more.

article thumbnail

How Does the Electric Car Tax Credit Work in 2023?

Setec Powerr

One such incentive is the electric car tax credit, designed to help offset the initial cost of EVs for buyers. Section 1: Overview of the Electric Car Tax Credit in 2023 1.1 In 2023, the tax credit remains available for eligible new electric vehicles but has undergone some changes compared to previous years.

article thumbnail

81% of EVs Sold in 2023 Still Qualify for the Federal EV Tax Credit

EV Life

The Inflation Reduction Act of 2022 (IRA) introduced new guidelines for a federal EV tax credit aimed at helping qualified drivers purchase an electric vehicle. The tax credit is part of a broader plan to make 50% of new vehicles sold in the United States hybrids or plug-ins by 2030. dependence on China.

article thumbnail

These 5 Plugin Vehicle Models Would Benefit Most From Proposed US EV Tax Credit Update (Chart)

CleanTechnica EVs

As we reported recently, there’s a big cleantech bill moving through the US Congress that would revive, extend, and expand the zero-emission vehicle tax credit in various ways.

article thumbnail

Proposed Federal EV Tax Credit Reform: Will It Move the Sales Needle?

EV Adoption

For electric vehicle observers, the legislation contains two key provisions: The first would extend the tax credit to automakers who already reached the current phaseout level of 200,000 EVs sold with another 400,000 vehicles, but with a reduction to $7,000 from the current maximum $7,500 credit.

article thumbnail

Proposed Changes to Federal EV Tax Credit – Part 5: Making the Credit Refundable

EV Adoption

One of the biggest complaints about the federal electric vehicle (EV) tax credit (IRC 30D) is that its structure of using a non-refundable tax credit is clearly more beneficial to higher-income households. How the Current Tax Credit Works For EV Buyers.