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The EV Tax Credit: Buy Now or Wait Until 2024?

EV Life

The Treasury Department just released new guidance that will enable consumers to use their $7500 EV tax credits more like an upfront rebate starting in January 2024. However, new vehicle requirements are also taking effect that raise questions about which vehicles will still qualify for tax credits in the new year.

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Proposed Changes to Federal EV Tax Credit – Part 2: End of the Manufacturer Sales Phaseout

EV Adoption

Arguably the biggest flaw in the Plug-In Electric Drive Vehicle Credit ( IRC 30D ) regulations is the triggering of a phaseout schedule of the tax credit when a manufacturer sells 200,000 total EVs (BEV and PHEV). In this part 2 article, we’ll dive deeply into the elimination of the per manufacturer 200,000 EVs sold phaseout.

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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.

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Tesla dominates Canada’s iZEV rebate program, doubling nearest competitor

Teslarati

Tesla is dominating Canada’s iZEV rebate program that rewards drivers for choosing to buy a clean energy vehicle. The data comes from Transport Canada (via Yahoo Finance ). These are the EVs that still qualify for the $7,500 tax credit in 2024 Meanwhile, the U.S.

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How Does the Electric Car Tax Credit Work in 2023?

Setec Powerr

The global push towards sustainable energy and reducing carbon emissions has given rise to the popularity of electric vehicles (EVs). 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

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The Tesla Model 3 is now cheaper to lease than a Toyota Camry

Baua Electric

Plus, you’re going to save even more in a Model 3 because you won’t have to buy gas. If the 2024 Tesla Model 3 Long Range All Wheel Drive is catching your eye, it’s now more affordable because it’s become eligible for the full $7,500 tax credit. The Long Range AWD has around 70 more miles of range. You can read more about that here.

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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). Babiker (2013) Energy Economics , 36: 322–333 doi: 10.1016/j.eneco.2012.09.001.