Bailout Bill has PHEV Credits
"The bailout legislation signed by President Bush contains a tax-credit for plug-in hybrid electric vehicles."
"The credit is a base $2,500 plus $417 for each kWh of battery pack capacity in excess of 4 kWh, to a maximum of $7,500 for light-duty vehicles; $10,000 for vehicles with gross vehicle weights of more than 10,000 but less than 14,000 pounds; $12,500 for vehicles with a GVW of more than 14,000 but less than 26,000 pounds; and $15,000 for any vehicle with a GVW of more than 26,000 pounds."
Labels: Political Action
posted by Mark Paul @ 10/04/2008
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Congress and President Bush passed the Energy Improvement and Extension Act as part of the bailout bill on October 3, 2008. The Act provided extensive tax credits, up to $7,500 per plug-in vehicles purchased.
In Oregon, Governor Kulongoski stated in his Climate Change Agenda that he plans to advocate an electric car tax incentive of $5,000 per electric vehicle, which trumps the existing hybrid vehicle tax credit of $1,500
Several local governments, including Oregon City, plan to install charging stations in the near future at a cost of about $7,500 plus electricity usage. Right now, the owners of plug-in electric vehicles pay nothing for charging their vehicles at these stations and there are no solid plans to charge them in the future.
Who exactly pays for the charging? All PGE customers pay for the PGE charging stations scattered throughout downtown, and all of the citizens of Lake Oswego pay for a few plug-in vehicle owners to fuel their “environmentally friendly” vehicles. Soon, all Oregon City citizens will be paying for their charging station even if they don’t own a plug-in vehicle.
What is being proposed is to bribe people to buy a car with plug-in technology, subsidize the fuel at 100% and exempt the user from paying for the roads. Certainly people can be expected to jump at such an offer, but how will we ever know if this technology is economically viable if we so distort the market?
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