CBO Report Suggests Tax Credits Of Up To $12,000 Will Boost EV Adoption

According to the Congressional Budget Office’s presentation at this year’s Energy Information Administration conference, which took place on June 24th, based on the 2011 prices, the tax credits offered by the government could not offset the higher lifetime cost of EVs compared with the gasoline-fueled cars.

The government is currently offering subsidies on purchases of EVs and hybrids, which are fitted with an externally charged battery which can be powered by gasoline. The subsidy can be between $2,500 and $7,500 in tax credits, and depends on the battery’s capacity. The report also says that the federal tax credit should see a boost for the EVs to be as cost effective as traditional vehicles.

Read Article

Sciros - 7/5/2013 4:52:54 PM

+2 Boost

This just in: if the government uses everyone's tax dollars to buy people electric cars, people will be more likely to get electric cars. Cause electric cars are THAT important right now dammit.

MBCLS07 - 7/8/2013 3:01:12 AM

+1 Boost

You mean if my neighbors give me $12,000 of their hard-earned income to buy an EV, I'll be more likely to buy one? How much did this gov't study cost taxpayers?

As they say, Socialism is great until you run out of other people's money.