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PHEVs and oil demand, Porsche charging, point-of-sale tax credit: Today’s Car News

Green Car Reports

The point-of-sale EV tax credit is very popular. With the release of its annual EV sales outlook, Bloomberg New Energy Finance suggests that plug-in hybrids are a wild card for oil demand. Porsche adds thousands of chargers to its app. And are plug-in hybrids potentially adding to future oil demand?

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EIA: State tax rates for retail gasoline and diesel increased in 13 states in 2023

Green Car Congress

In January 2023, state taxes and fees on gasoline and diesel fuel averaged $0.3163 per gallon (gal) of gasoline and $0.3388/gal of diesel fuel, according to the US Energy Information Administration (EIA). These taxes have increased in 13 states since July 2022. In 2023, the state plans to phase the tax back in by $0.05/gal

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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.

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China extends EV tax exemptions totaling $72 billion through 2027, the largest tax break to date

Electrek

China’s Ministry of Finance has confirmed that tax exemptions for New Energy Vehicles (NEVs) scheduled to expire at the end of this year have been extended through 2027. more… The post China extends EV tax exemptions totaling $72 billion through 2027, the largest tax break to date appeared first on Electrek.

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Arizona’s largest battery storage project clinches $513M in financing

Baua Electric

Photo: Recurrent Energy Recurrent Energy has secured $513 million in financing for Arizona’s largest standalone battery storage project. The financing includes a $249 million construction and term loan, a $163 million tax equity bridge loan, and a $101 million letter of credit facility. Get started here.

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Tesla Model 3 Long Range costs $3,200 more to finance than last week

Baua Electric

The 2024 Model 3 / Photo: Tesla Tesla scrapped promotional financing on the Model 3 Long Range this week after it became eligible for the $7,500 federal tax credit. As Electrek reported on June 17, Tesla and the IRS confirmed that the Model 3 Long Range All-Wheel Drive is now eligible for the full tax credit. Get started here.

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Eos Energy launches $500M Project AMAZE with $398.6M conditional loan guarantee from DOE; long-term zinc-based storage

Green Car Congress

Eos Energy, a provider of safe, scalable, efficient, and sustainable zinc-powered long-duration stationary energy storage systems, announced Project AMAZE (American Made Zinc Energy), a $500-million planned expansion and a significant milestone to build 8 GWh of clean energy storage production capacity.