Senate Finance Committee Approves $12,500 EV Tax Credit Bill

The Truth About Cars

On Wednesday, the Senate Finance Committee advanced the Clean Energy for America Act making a few tweaks from earlier proposals. Changes include raising the federal EV tax rebate ceiling to $12,500 and opening the door for automakers who already exhausted their production quotas.

CT legislature passes highway usage tax on heavy trucks

Green Car Congress

The Connecticut General Assembly has passed HB 6688 , a bill that imposes a highway use tax (HUT) on every carrier for operating, or causing to be operated, certain heavy, multi-unit motor vehicles (Class 8-13) on any highway (i.e., The bill establishes per-mile tax rates that increase based on vehicle gross weight, ranging from $0.025 per mile for vehicles weighing 26,000-28,000 lbs to $0.175 cents per mile for vehicles weighing more than 80,000 lbs.

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Electric car US tax credit proposed to $12,500, less for Tesla vehicles

Electrek

A new bill to reform the federal electric car tax incentive in the US has passed the US Senate Finance Committee. It includes increasing the electric vehicle tax credit to up to $12,500, but it was expertly crafted to give less to Tesla vehicle buyers.

Nepal new budget: removes tax hikes on EVs, waives renewal & road tax for 5 years

Electric Vehicles India

Nepal new budget: removes tax hikes on EVs, waives renewal & road tax for 5 years. The Government of Nepal, Finance Minister Yuba Raj Khatiwada announced the budget for the fiscal year 2021-22 which allocated a total of 1.64

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NJ boosts gasoline tax 22.5% to $0.507/gallon effective 1 October, diesel to $0.577

Green Car Congress

New Jersey’s Department of the Treasury announced on Friday that lower fuel consumption trends, which have been exacerbated by the COVID-19 pandemic, will necessitate a gas tax increase of $0.093 per gallon in order to ensure compliance with the 2016 law that requires a steady stream of revenue to support the state’s Transportation Trust Fund (TTF) program. The increase brings the gasoline tax from $0.414 to $0.507 per gallon (22.5%).

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Congressionally-created Commission Recommends Mileage Tax Instead of Fuel Tax for Transportation Infrastructure Financing

Green Car Congress

A bi-partisan Congressionally-created commission has recommended a shift from motor fuel taxes to direct fees charged to transportation infrastructure users—i.e., a federal mileage fee—as a way to reform financing of the US transportation infrastructure. The recommendation is part of the final report issued by the National Surface Transportation Infrastructure Financing Commission, “ Paying Our Way: A New Framework for Transportation Finance ”.

Fisker Ocean electric SUV starts at $37,499, pre-tax credit; leases for $379/mo

Green Car Congress

After the US federal tax credit is applied, the cost of the Fisker Ocean drops to a starting price of US$29,999 (US). Fisker will also offer a “$0 drive off” option through a fully financed $2,999 down payment for credit-approved customers.

Report Finds That Urgent Changes in Transport Financing Required to Enable More Sustainable Transportation Globally

Green Car Congress

Changes in how transport is financed are essential if cities and nations are to deal effectively with the rapid growth in motor vehicle traffic and related environmental and health problems, including climate change, according to a new report by the Transport Research Laboratory released at Fifth Regional EST Forum in Asia by the Institute for Transportation and Development Policy (ITDP) and the Partnership for Sustainable Low Carbon Transport.

EV Life is awarded CalSEED grant from the California Energy Commission to make financing electric cars cheaper than gas vehicles.

EV Life

The average California driver qualifies for over $10,000 in EV rebates and tax credits, but incentives can take 12 to 18 months to recoup post-purchase. The company’s first product is a web platform that makes it easier to find and finance an electric car.

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Tesla stock outlook soars to $1,300 per share, driven by Biden’s $10k EV tax credit

Teslarati

Instead, President Joe Biden’s EV tax credit, a long-awaited returning incentive for many EV enthusiasts, is about to be reintroduced. Finance Live. Rest assured, Ives believes an increased EV tax benefit will pay dividends for Tesla if it goes through.

U.S. Senate Panel looks to boost EV Tax Credit to $12,500: What we know so far

Teslarati

The United States Senate Finance Committee is looking to boost the possible Electric Vehicle Tax Credit to $12,500 for manufacturers that have assembled union workers within the U.S. will still qualify for tax credits but will not receive the full amount.

“Project Volt Gas Volt” proposes long-term financing plan to support widespread implementation of power-to-gas systems

Green Car Congress

Project Volt Gas Volt is based on a long-term financing plan and the use of existing technologies for the large-scale conversion of surplus renewable electricity to methane, with subsequent reuse. Financing Project VGV: the Green Redemption Fund. The allocation of emissions allowances and the carbon tax, once it is in place. A carbon tax levied directly on fossil fuels could be calculated on the BTU equivalent of the oil needed to produce a tonne of CO 2.

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Tesla introduces financing product for Model S customers; lease-sale hybrid

Green Car Congress

Tesla Motors, in partnership with Wells Fargo and US Bank, has created an automotive financing product that combines elements of ownership and leasing for Model S customers. Essentially, said Tesla CEO Elon Musk in a conference call describing the product, the new approach allows one to buy a new Model S for no money down net of the tax credit and as low as about $500 net out of pocket cost per month, depending upon the model, specific state incentives, and personal parameters (e.g.,

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Report from the REFF-Wall Street; Themes in Renewable Energy Finance

Green Car Congress

Green Car Congress attended the Renewable Energy Finance Forum - Wall Street (REFF-Wall Street) conference (23-24 June) sponsored by Euromoney Energy Events and the American Council on Renewable Energy (ACORE). Renewables account for approximately 10-15% of the global energy infrastructure investment and according to New Energy Finance renewables have been hit hard by the global recession with a 47% in Q1 2009 vs. Q1 2008 ($13.3 Is tax equity dead? by Bill Cooke.

PGE and SunRun Create $100M Home Solar Financing Fund

Green Car Congress

a provider of home solar financing, announced a $100-million tax equity project financing agreement to fund SunRun’s installation of more than 3,500 new home solar installations across the nation. The investment, principally funded by PG&E Corporation shareholders through Pacific Energy Capital, creates the largest residential solar financing vehicle established to date.

California gives Tesla $34.735-million sales and use tax break, its second

Green Car Congress

The California Alternative Energy and Advanced Transportation Financing Authority (CAEATFA) has given Tesla Motors a $34.735 million tax break from sales and use taxes on $415-million worth of new manufacturing equipment for its Fremont factory. CAEATFA’s charter is to provide a sales and use tax exclusion (STE) for advanced manufacturers and manufacturers of alternative source and advanced transportation products, components or systems.

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Study finds that linking increased transportation tax to environmental or other specific benefits increases Americans support for higher transportation taxes

Green Car Congress

A national phone survey by the Mineta Transportation Institute (MTI) found that a majority of Americans would support higher taxes for. The survey results show that very low support levels for a one-time gas-tax increase or a new mileage tax can be raised by modifying how the tax is structured and the way it is described. Linking a transportation tax to environmental benefits can strongly increase support.

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Sen. Baucus draft for energy tax reform focuses on clean production of electricity and fuels; repeals plug-in vehicle credits

Green Car Congress

Senate Finance Committee Chairman Max Baucus (D-Mont.) introduced the latest in a series of discussion drafts to overhaul the US tax code. This new staff discussion draft focuses energy tax policy on stimulating domestic, clean production of electricity and transportation fuels, which account for 68% of energy consumed in the US. It also would repeal a number of current tax incentives, including those for plug-in electric vehicles and fuel cell vehicles.

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China exempts taxes on biodiesel

Green Cars News

In a major boost for the biofuel sector, China has decided to exempt taxes on pure biodiesel from waste animal fats and vegetable oils. Its new policy will actually be retroactive from January 1, 2009, with taxes that have already been paid to be refunded according to the Ministry of Finance and the State Administration [.]. Biofuels Green cars Latest news biodiesel biodiesel tax China vegetable oils waste animal fats

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Exxon/Mobil To Fund Solar Financing Bond For Torrance Homeowners

Creative Greenius

In a deal brokered by the city’s newly commissioned Citizens Environmental Task Force, Exxon/Mobil, owners of the Exxon/Mobil Refinery in the City of Torrance agreed today to fund a bond that will make low cost financing of solar energy systems for home and apartment owners. The loans for solar power, authorized under California’s AB 811 , are added as assessments to a homeowner’s property tax bills and are passed on to the new owner if a home is sold.

ICCT suggests minor changes to Fed tax policy to cut higher investment risk of 2nd-gen biofuels and advance the industry

Green Car Congress

Minor changes to an existing Federal tax incentive for second-generation biofuels (i.e., Some of the ICCT recommendations are mirrored in the recently released Baucus draft proposal for tax reform ( earlier post ), notes Dr. Chris Malins of the ICCT, one of the study’s co-authors. The study identified four specific changes to the US tax code that could help accelerate the commercialization of second-generation biofuels.

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China exempts consumption taxes on biodiesel retroactive to 1 Jan 2009

Green Car Congress

China has exempted consumption taxes on pure biodiesel made from waste animal fats or vegetable oils. 2009 and taxes already paid will be refunded, according to the Ministry of Finance (MOF) and the State Administration of Taxation. Xinhua. The new policy is effective from 1 Jan. The move is aimed at boosting the renewable resources sector, easing demand for petroleum and protecting the ecological environment, the announcement said.

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MIT study finds fuel economy standards are 6-14 times less cost effective than fuel tax for reducing gasoline use

Green Car Congress

In a study published in the journal Energy Economics , MIT researchers have found that a fuel economy standard is at least six to fourteen times less cost effective than a fuel tax when targeting an identical reduction in cumulative gasoline use (20% by 2050). If policymakers had made their decision based on the broader costs to the economy, they would have gone with the option that was least expensive—and that’s the gasoline tax.

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Li-ion battery maker Boston-Power announces $125M in new financing; focus on and support from China

Green Car Congress

Additionally, through its stimulus programs and local industrial policies, the Chinese government is providing a range of grants, low-interest loans and related financial and tax incentives. Boston-Power, Inc., a provider of lithium-ion battery cells, modules and systems ( earlier post ), announced $125 million in new funding from a combination of private equity investment and support from China.

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Mn/DOT assessing potential for mileage-based user fee to replace fuel tax; Battelle conducting technology assessment

Green Car Congress

The Minnesota Department of Transportation (Mn/DOT) will recruit 500 people from Wright and Hennepin counties to take part in research to test technology that could someday be used to collect a mileage-based user fee (MBUF) in lieu of a gasoline tax. Minnesota’s highway revenues are derived from three sources: the gas tax, vehicle registration fee or tabs and the motor vehicle sales tax.

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CBO report finds new CAFE standards would reduce gasoline tax by 21% in 2040; $57B drop to Highway Trust Fund from 2012-2022

Green Car Congress

In a new report, the Congressional Budget Office (CBO) finds that the fuel economy standards proposed for model years 2017 through 2025 would eventually reduce revenues from the gasoline tax by 21% in 2040. The 21% reduction in revenues would lower receipts credited to the Highway Trust Fund—the mechanism used to finance the federal government’s surface transportation programs. gasoline tax revenues, however, would not occur for.

2012 196

The Further Adventures of The Solangelist

Creative Greenius

Even with the extension of the solar tax credit which came as an unexpected bonus along with the $700 billion bailout and the big increase in how much you can claim, I still think dipping into my cash reserve to the tune of $29 grand for the up front cost of my solar system would be loony tunes at the moment - and with the economy putting us into this Not So Great Depression I’m not really interested in adding that much in debt in order to pay for my panels.

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Massachusetts Governor Proposes $0.19 Increase in State Fuel Tax to Support Transportation Projects

Green Car Congress

As part of a comprehensive reform plan to simplify the Commonwealth of Massachusetts’ transportation system, Governor Deval Patrick is proposing a fuel tax increase of $0.19 The increased fuel tax is intended to be in lieu of an increase in tolls. With Federal fuel taxes included, the tax on gasoline in the state would be $0.609 per gallon, and the tax on diesel would be $0.669 per gallon.

Biofuel Companies and Trade Associations Push for Extension to Investment Tax Credits for Cellulosic Biofuels and The Inclusion of Algae Biofuels

Green Car Congress

A group of 35 biotechnology and biofuel companies and trade associations are urging the leaders of the House Ways and Means Committee to extend tax credits for cellulosic biofuels for four years, to allow algae biofuels to qualify for those tax credits, and to create an option for monetizing the tax credits as tax refunds. Stephanie Herseth Sandlin (D-SD) that she has not yet introduced—would also create investment tax credits for advanced biofuels.

UK Government Pre-Budget Report Offers Tax Exemptions for EVs, £30M in Additional Support for Low-Carbon Vehicles; Annual Fuel Tax Increases and End of Duty Differential for Biofuels

Green Car Congress

In the Pre-Budget Report (PBR) released on 9 December, UK Chancellor Alistair Darling announced that all electric cars will be exempt from Company Car Tax (CCT) for 5 years and electric vans will be exempt from Van Benefit Charge (VBC) for the same period. A 100% first year tax allowance will also be provided for the purchase of electric vans subject to State Aid clearance. In his statement, the Chancellor may announce changes to taxes and new spending measures.

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Australia PM Gillard announces carbon pricing plan; transport fuels exempt, but lowered fuel tax credits to bring carbon price to some businesses

Green Car Congress

However, where applicable, an equivalent carbon price will be applied through changes in fuel tax credits or excise. More than 50% of the funds raised from the carbon price will be used to fund tax cuts, pension increases and higher family payments. Some of the collected tax money will fund investments in clean technologies such as solar, wind and geothermal—an estimated A$100-billion worth of investment in renewable over the next 40 years, Gillard said.

Fuel efficient cars driving fall in tax revenue

Green Cars News

Future governments will need to find a way to fill the hole in public finances caused by a relentless decline in the amount of revenue collected from fuel duty and VED, despite rising traffic levels. According to a new study from the Institute of Fiscal Studies (IFS), falling revenue will be caused by the rising [.]. Green credentials fuel duty motoring costs RAC Foundation VED

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Average price of new light trucks in 2019 was 43% higher than average price of new cars

Green Car Congress

Prices are collected for the base price, destination charge, options, dealer preparation charges and applicable taxes and are adjusted for markups, dealer concession or discounts, and consumer rebates. Finance charges or finance incentives are excluded.

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Argonne study finds BEVs can have lowest scheduled maintenance costs, but highest cost of driving

Green Car Congress

Researchers at Argonne National Laboratory, with colleagues from Lawrence Berkeley, Oak Ridge, and National Renewable Energy labs, and the University of Tennessee, have published a comprehensive analysis of the total cost of ownership (TCO) for 12 sizes of vehicles ranging from compact sedans up to Class 8 tractors with sleeper cabs.

Tesla launches business leasing program

Green Car Congress

The Tesla business lease is available through Tesla Finance, a new subsidiary set up especially to offer this new product to business customers. As an example, according to the configurator on Tesla’s site, the monthly lease payment for an 85 kWh model (cash price $79,900) would run $1,199; factoring in gasoline savings (-$261 per month) and the business tax benefit (-$395 per month) brings that to a net $543 per month. Tesla Model S financing options. Finance.

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Ford introduces F-150 Lightning Pro electric pickup targeted at commercial customers

Green Car Congress

The Pro joins E-Transit in the lineup of Ford work-ready electric vehicles, backed by a nationwide network offering EV-certified fleet sales, service and financing.

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EV Life Product Updates – August 2020

EV Life

EV Life makes it easier to find and finance your electric car. Then you can save up to $200/mo on financing when you apply for our EV Life Climate Loan. Savings on financing are based on the EV incentives you qualify for.).

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2018 Honda Clarity Electric hits dealerships in California and Oregon with $199 lease deal

Green Car Reports

That figure reflects the $7,500 federal tax credit, which Honda finance will keep as part of the capitalized cost reduction of the lease. The 2018 Honda Clarity Electric car rolled into California and Oregon dealerships this week, but nobody can buy it. It's only available for lease for $199 a month for 36 months with $1,499 due at signing. CHECK. California lease price new cars Oregon

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Electric Car: Lease Or Buy?

Green Car Reports

Each financing option has its pros and cons, so we''ve outlined the reasons you might opt for each alternative. LEASING The Federal income-tax credit of $2,500 to $7,500 is You''re considering a plug-in electric car. Should you lease or buy? It''s a question that all new-car shoppers face--but for electric cars, there are some special considerations.

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Octopus launches ‘Electric Dreams’ – An EV leasing company unlocking salary sacrifice for businesses

Drive EV

Drivers already signed up are saving an average of £14,445 over three years, by sacrificing some pre-tax salary in return for a brand new electric car. Partners including Close Brothers and Lloyd Latchford will provide Octopus with financing and insurance services respectively.

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A Brief Look at Today's Plug-in Hybrid and Electric Vehicles and the Companies That Are Revolutionizing an Old Industry - Yahoo! Finance

Tony Karrer Delicious EVdriven

News & Opinion Markets Investing Ideas Expert Advice Special Editions Company Finances Providers Personal Finance Banking & Budgeting Career & Work College & Education Family & Home Insurance Loans Real Estate Retirement Taxes My Portfolios New Portfolio MarketTracker Tech Ticker (new) Search for share prices Get Quotes Finance Search Tue, Apr 21, 2009, 10:17AM ET - U.S. www.geinterestplus.com Finance Discover free information about finance.

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Average price of new light vehicles in US hit high in 2016; driven up by trucks; cars moving in opposite direction

Green Car Congress

Prices are collected for the base price, destination charge, options, dealer preparation charges and applicable taxes and are adjusted for markups, dealer concession or discounts, and consumer rebates. Finance charges or finance incentives are excluded. The average price of a new light vehicle (including both cars and light trucks) was up to a record $31,790 in 2016, up from the most recent low of $28,243 in 2008.

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Lease A Green Vehicle, Get Rebate Yourself--In CO, Anyway

Green Car Reports

A bill signed in Colorado will now allow lessees to claim any tax credits for hybrid cars and electric vehicles, rather than the lessor. Previously, the state had allowed banks or finance companies to choose whether claim the credits themselves on lease vehicles, or to pass the credits on to the lessee. Predictably, this resulted in plenty of

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