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The Federal tax on gasoline is 18.4 cents per gallon, and each state has a gasolinetax, ranging from 8.95 Since taxes are charged on a per-gallon basis, someone with a more efficient vehicle will pay less in taxes over the course of a year. cents in Alaska to 58.7 cents in Pennsylvania.
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).
The federal subsidy significantly favors larger battery packs to a stronger degree than their potential for additional gasoline savings. Non-domestic charging infrastructure is generally not necessary for operation of PHEVs, and substantial gasoline displacement can be achieved solely with home charging. Peterson and Michalek 2012.
Across the US the average annual cost of running an electric vehicle is $2,721.96, while gasoline vehicles cost an average of $3,355.90 However, these annual costs don’t take into account the purchase cost of the vehicle itself and are purely the ‘running’ costs annually. per year to run—a difference of $633.94
Now, researchers at Imperial College London have shown that bioethanol production from bamboo in China is both technically and economically feasible, as well as cost-competitive with gasoline. gallon US) with tax exemption and a $0.16/liter An open access paper on their study is published in Biotechnology for Biofuels.
L/100km) on the JC08 cycle, making the Mirage the most fuel efficient registered gasoline car in Japan. These trim levels thus qualify for the Japanese government’s “eco-car” classification thus are exempt from acquisition tax and motor vehicle tax at the time of purchase. km/liter (64 mpg US, 3.7 km/liter (54.6
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 vehicle’s life. Source: CBO. Click to enlarge.
Sightline Institute reports that drivers in the Northwest states of Idaho, Oregon, Washington used more gasoline last year, reversing a decade-long trend of declining personal gas consumption. Idaho drivers—already the highest per-capita consumers in the region—led the Northwest by increasing their gasolinepurchases by nearly 4%.
Hochrad purchased his first hybrid car more than 15 years ago, and over the years has driven dedicated electric vehicles as well. NEXO can be leased for $399 (Blue model) or $449 (Limited model) for 36 months and can be purchased for $58,300. His new NEXO will deliver about five times the driving range of his first all-electric car.
Tesla lobbied the United Kingdom government to raise taxes on gasoline and diesel cars in order to fund higher subsidies for electric cars, The Guardian reported Tuesday.
The study considers five different powertrains (internal combustion engine, hybrid-electric, plug-in hybrid-electric, fuel-cell-electric, and battery-electric) and 12 cost components (purchase cost, depreciation, financing, fuel, insurance, maintenance, repair, taxes, registration fees, tolls and parking, payload capacity and labor).
California buyers of the Ford Focus Electric will be able to receive up to $10,000 in tax credits ($2,500 state, $7,500 federal) and enjoy high-occupancy vehicle lane (HOV) access after the car was just approved for California’s Clean Vehicle Rebate Program ( CVRP ). 3 and 7, respectively, for the worst congestion in the US.
By being able to operate on either natural gas or gasoline, switching with the press of a dashboard button, the bi-fuel Focus can have a combined range of more than 700 miles. Households or companies can receive a $4,000 Federal Income Tax Credit by purchasing and converting a vehicle with Altech-Eco’s conversion system.
The 2014 ELR has a starting price of $75,995, including a $995 destination charge but excluding tax, title, license and dealer fees. Base price of a 60 kWh Tesla Model S—without Federal tax incentive, but with destination fee—is $71,070.) Net pricing after tax credits could be as low as $68,495, including $995 destination.
Direct transportation (fuel) taxes generate the greatest reductions in CO 2 emission from transportation, achieving CO 2 emissions at 86% of 2005 levels by about 2025. The largest reductions in GHG emissions from transportation are obtained by increasing the cost of driving with fuel taxes, resulting in lower emissions in 2030 than in 2010.
The President also announced a new research Clean Energy Grand Challenge—EV Everywhere—to make electric-powered vehicles as affordable and convenient as gasoline-powered vehicles for the average American family within a decade. Tax credits.
When life cycle air pollution and greenhouse gas emission externalities are internalized via a Pigovian tax, fleet electrification increases and externalities decrease, suggesting a role for policy. —Bruchon et al. Private and external costs of energy inputs vary across cities. Source: Bruchon et al.
However, the cost of CO 2 reduced was comparable or lower than that achieved through less cost-effective policies such as the tax subsidy for electric vehicles, the analysis concluded. billion in vouchers; NHTSA concluded that the new vehicles purchased under the program averaged 24.9 Cost per job created. Click to enlarge.
With high gasoline prices nationwide, the Honda Civic Natural Gas offers consumers a cleaner transportation alternative that is also cost effective. It is built on the same assembly line as the gasoline-powered Civic four-door models at Honda’s Greensburg, Indiana manufacturing facility.
Federal subsidies and policies to encourage plug-in vehicle adoption would produce more benefits at lower cost by targeting the purchase of vehicles with small battery packs, according to Jeremy J. They found thousands of dollars of damages per vehicle (gasoline or electric) paid by the overall population rather than only by the emitters.
found that the city’s LEAFs will cost 41% less to own and operate than gasoline-powered vehicles. Its efforts to incorporate alternative fuel vehicles (AFVs) into its fleet began in 2002 with an initial purchase of hybrid electric vehicles (HEVs), mainly the Toyota Prius and Ford Escape hybrid. A similar study examining Loveland, Colo.
US respondents are split when it comes to when they’ll consider purchasing an EV. Conversely, 39% of respondents would only buy an EV if gasoline-powered vehicles were no longer available. US respondents are most likely to buy an EV if the government offers a federal/state tax credit.
Incentivize auto manufacturers, for example, by exempting the profits resulting from the sale of the first 10 million vehicles that deliver more than 75 mpg from any corporate taxes. ” Pataki suggested converting the tax credit to a rebate, for three years or for five. Gasoline is too cheap. Consumers and Charging.
The total purchase price, including the assumption of debt outstanding at El Paso Corporation and including the debt outstanding at El Paso Pipeline Partners, L.P. million barrels per day of gasoline, jet fuel, diesel, natural gas liquids and crude oil through more than 8,000 miles of pipelines. is approximately $38 billion.
(Since some 36% of diesel is used off-road, such as on farms, by manufacturing, industrial and commercial ventures, and boats, a fuel tax for road use would impose an unfair burden onto these sectors, the government says.). This is equivalent to the two cent per liter increase in gasoline excise duty that will occur on the same day.
Chris Gregorie asking that a proposed $100 EV surtax be removed from the state’s transportation bill (Senate Bill 6455, ESSB 6455) on the grounds that it will create a disincentive toward the purchase of an EV. The proposal currently excludes vehicles such as the Chevrolet Volt, which can run part of the time on gasoline.
EPA’s 2012 rule requires that refiners and importers of gasoline and diesel must use 8.65 EPA’s standard is divorced from reality and forces refiners to purchase credits for cellulosic fuels that do not exist. EPA’s unrealistic mandate is effectively a tax on manufacturers of gasoline that could ultimately burden consumers.
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., Average credit per tax return, by income level. billion in total tax expenditures over the period studies (75.7%).
By contrast, those in the wealthiest car-owning households are spending around 12% of their disposable incomes on purchasing and operating a car. Of a total weekly expenditure of £167 (US$250), those in the poorest car-owning households see £44 (US$66) go on vehicle-related purchasing and operating costs. p/liter (US$7.54/gallon
Josh Hafenbrack posts this informative entry covering the status of Hasner’s Florida State electric car tax break on the SunSentinel.com. Read more of the article: Hasner’s electric car tax break gets boost. Hasner’s electric car tax break gets boost. Florida House Majority Leader Adam Hasner.
Starting MSRP is $29,995 (after a federal tax credit). Electric-only driving without gasoline engine power; Conventional hybrid mode where the powertrain melds electric and gasoline engine power as appropriate; and. When powered by gasoline, C-MAX Energi uses the new 2.0-liter Earlier post.).
The low running costs are the crucial purchasing argument: In Germany, its manufacturer suggested retail price (€21,975) is reduced by an environmental bonus (€6,570, both gross amounts) and the German insurance categories are favorable (liability category: 12, fully comprehensive category: 16). Passat GTE Variant.
Assuming the China government remains committed to EVs, BCG expects that these vehicles will represent 7% of new vehicle sales in 2020, supported by car buyers’ enthusiasm for the technology and the country’s high gasolinetaxes. Source: BCG. Click to enlarge. The consumer.
In 1975, General Ernesto Geisel, then-president of Brazil, ordered the country’s gasoline supply mixed with 10% ethanol. The level was raised to 25% over the next five years, which was intended to maintain a constant Brazilian gasoline supply for an ever-increasing demand.
The first character of the scenario represents the price of gasoline at simulation termination, the second represents “yes” or “no” on a manufacturer subsidy, and the third represents “yes” or “no”on a sales tax exemption. Consumer response under a gasoline price shock. Fleet penetration of PHEV by 2020 in different scenarios.
Running costs for e30 are only about one-seventh of gasoline models of the same grade in China, due to e30’s energy consumption of 14.6 The e30 is eligible for a purchasetax exemption as part of the Chinese government’s support for developing new energy vehicles. Earlier post.) Starting price is set at RMB 267,800 (US$43,705).
PEVs have higher purchase prices than comparable conventional vehicles. Some research has shown that purchase rebates can be more effective than income-tax credits, the committee noted. Most BEVs have small driving ranges, and this could be a substantial barrier to their widespread adoption.
The task of the committee of experts and stakeholders writing the report was (1) to identify market barriers slowing the purchase of PEVs and hindering the deployment of supporting infrastructure in the United States and (2) to recommend ways to mitigate those barriers.
Optimizing Car Leasing Tax Advantages The UK Business Benefits This article may contain affiliate links. In this blog post, we’ll explore why leasing a car, like a Cupra Formentor or a Nissan Leaf, can be an ideal choice for your business, both in terms of financial benefits and tax advantages.
Per gallon federal gasoline and diesel taxes collected at the pump are deposited into the federal Highway Trust Fund (HTF). As new cars and light trucks are purchased in the future and old ones retired, average fuel economy will improve, reducing the 2009 forecast of gasoline sales and HTF revenues.
Despite those differences, in nearly all cities, the BEV’s higher purchase price and rapid depreciation outweighed its fuel savings. A principal reason is that the Leaf depreciated faster than the gasoline vehicles, losing more in resale value than it gained in fuel savings in the first five years.
As sales of electric vehicles begin to reach significant numbers across the US, states are exploring approaches to replace lost tax revenue since EV drivers don’t pay fuel taxes as drivers of gas-powered cars do at gas stations. Unfortunately there is currently no simple and agreed upon best replacement for the fuel tax.
The Valero Delaware City Refinery , acquired in the purchase of Premcor in 2005, was commissioned in 1956 with a throughput capacity of 140,000 barrels per day (bpd). In the fourth quarter of 2009, the company expects to report a pre-tax charge of approximately $1.7 Valero Delaware City Refinery. Click to enlarge. billion to $1.8
The California law enabling single-occupant access to the HOV lanes was meant to stimulate sales for fuel-efficient, ultra low-emission vehicles, with the goals of reducing dependence on foreign oil and saving money at the gasoline pump.
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