Some California Residents Can Save $13,000 on the Purchase of an EV
August 24, 2012 9:14 AM
comment(s) - last by
Some residents qualify for a local rebate of $3,000
The state pushing the hardest to transition drivers from gasoline-powered vehicles to electric vehicles and hybrids is California. Part of the state’s push to get people to adopt electric vehicles has come by way of tax credits and rebates (which are in addition to rebates available at the federal level).
All of those rebates can be combined making for a significant discount off the purchase price of an electric vehicle. The state of California offers a $2,500 rebate on the purchase of an electric car. The federal tax credit for buying an electric vehicle is $7,500. However, the San Joaquin Valley Air Pollution Control District recently announced that it is offering drivers in the district another $3,000 to purchase an electric vehicle.
When combined the local, state, and federal tax rebates, this represents a total of $13,000 off the price of an EV. To compare, in the state a new gasoline-powered Toyota Corolla has a sticker price of just under $18,000. By comparison, the
electric Mitsubishi iMiEV
has a sticker price of $29,975. That is a huge difference between factory MSRPs for the vehicles, but when you knock off the $13,000 in credits, the purchase price of the Mitsubishi EV is a more palatable $16,975.
Despite the significant discount, most drivers still stay away from electric vehicles. The biggest reason is range anxiety and long charging times. However, electric vehicles can be cheaper to operate. An example would be to drive the gasoline-powered Corolla mentioned before with a travel distance of 40 miles a day with gasoline at $3.95 per gallon would cost the driver $150 a month. Charging the electric car to drive the same distance each day would cost about $50.
President Obama is also seeking to
expand tax credits
for EVs by bumping the federal credit from $7,500 to $10,000, making the price gap even less if approved.
This article is over a month old, voting and posting comments is disabled
8/24/2012 7:49:30 PM
you bought a leaf in Colorado? i guess you don't do much driving....just in town driving around Boulder?
"We shipped it on Saturday. Then on Sunday, we rested." -- Steve Jobs on the iPad launch
Obama Thinks $7,500 EV Tax Credit Isn't Enough, Proposes Increase to $10,000
February 15, 2012, 4:40 PM
$27,990 Mitsubishi EV Qualifies for $7,500 Federal Credit, $4,500 Hawaii Rebate
April 26, 2011, 12:02 PM
Watch Out Valets, Corvette is Offering "Baby Monitor for Your Car"
August 19, 2014, 5:05 PM
GM Concedes That the Cadillac ELR Doesn’t Really Compete with the Tesla Model S
August 15, 2014, 5:42 PM
Ford Partners with DTE Energy to Deploy MI’s Largest Solar Installation
August 14, 2014, 10:57 AM
Thanks to Support from Dealers, Pennsylvania Paves Way for Tesla Direct Sales
August 12, 2014, 10:17 AM
GM to Bring More Diesel Vehicles to U.S. Market Despite Laggard Cruze Diesel Sales
August 7, 2014, 2:44 PM
Second Generation Chevrolet Volt to Bow at 2015 Detroit Auto Show
August 7, 2014, 10:46 AM
Most Popular Articles
Apple Scores Patents, Preps New Reversible USB Plug for iPhone 6 Connector
August 18, 2014, 1:32 PM
New AMD Fusion-Based Laptop From HP to Pack a Punch at $199
August 18, 2014, 4:13 PM
BlackBerry Reinvents Itself, Prepares for Potential Smartphone-Free Future
August 18, 2014, 7:51 PM
New Photos Show “Assembled” iPhone 6, Protruding Camera Ring
August 20, 2014, 2:32 PM
Lumia 830 Gets Major Upgrades Including New 20.1 Megapixel Toshiba Sensor
August 15, 2014, 6:00 PM
Latest Blog Posts
Space Terrorism is a Looming Threat For the United States
Apr 23, 2014, 7:47 PM
Facebook Aims to Provide Internet to "Every Person in the World" with Drones, Satellites
Apr 1, 2014, 10:20 AM
Retail Mobile Sites Experience Outages in Light of Simplexity's Bankruptcy
Mar 14, 2014, 8:48 AM
Tesla vs. BMW: Who Has the Safer EV?
Feb 1, 2014, 2:56 PM
Justice Leaks Details of Next HTC One Two Flagship Phone
Dec 5, 2013, 4:04 PM
More Blog Posts
Copyright 2014 DailyTech LLC. -
Terms, Conditions & Privacy Information