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Study finds EV buyers want rebates, not tax credits; government could have saved $2B

Green Car Congress

A study by a team from the George Washington University finds that not all financial incentives are created equal in the eyes of prospective car buyers, and the current federal incentive—a tax credit—is, in fact, valued the least by car buyers. —Roberson and Helveston (2022). —John Helveston. Roberson et al.

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Tesla embraces new immediate EV tax credit system

Teslarati

Tesla has embraced the new immediate use of the EV tax credit, which was announced last year by the IRS and Department of the Treasury. In October , the IRS and Department of the Treasury announced that it would issue new guidance regarding the EV tax credit, with the changes taking effect in 2024. Buying an EV?

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Thousands of auto dealers sign up to offer new on-the-spot tax credit

Electrek

New year, new rules: As of January 1, things are about to get a little easier when it comes to getting your federal tax credit for buying an electric vehicle. moreā€¦ The post Thousands of auto dealers sign up to offer new on-the-spot tax credit appeared first on Electrek.

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How to Get the Federal Clean Vehicle Tax Credit This Year

Blink Charging

The United States federal government has made it even easier to buy a new or used electric vehicle (EV). The latest Clean Vehicle Tax Credits can be applied to the purchase of a new or used EV at the point of sale as of January 1, 2024. The value of the tax credit allowed and any other purchase incentives.

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California to test electric-car 'point of purchase' rebate for electric cars

Green Car Reports

It's clear that incentives to buy specific cars work best when they can be applied directly at the time of sale. That's why purchase rebates are widely preferred by electric-car advocates to tax credits, which may take up to 15 months to be usable, depending on the timing of the purchase and tax filing.

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Congressional Budget Office estimates US federal policies promoting EVs and other fuel-efficient vehicles will cost $7.5B through 2019; little or no impact on gasoline use and GHG in the short term

Green Car Congress

Tax credits and gasoline prices necessary for various electric vehicles to be cost-competitive with conventional vehicles at 2011 vehicle prices. That finding takes into account both the higher purchase price of an electric vehicle and the lower fuel costs over the vehicleā€™s life. Source: CBO. Click to enlarge. Indirect effects.

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60% of $18B in US clean energy tax credits 2006-2012 went to top 20% by income; 90% in the plug-in program

Green Car Congress

A working paper by a team at the Energy Institute at Haas, University of California, Berkeley, has found that 60% of the $18 billion in US federal income clean energy tax credits issued between 2006 and 2012—e.g., Electric Vehicle Credit. Average credit per tax return, by income level. billion (19.3%).