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
8/25/2012 8:18:13 AM
Most of these kind of scheme are not for the poor anyway. You are likely to get it yourself than a poor guy with no internet.
"Intel is investing heavily (think gazillions of dollars and bazillions of engineering man hours) in resources to create an Intel host controllers spec in order to speed time to market of the USB 3.0 technology." -- Intel blogger Nick Knupffer
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
Carbon Fiber to Lower BMW i3 Repair, Insurance Costs
December 12, 2013, 2:12 PM
Cadillac ELR is Priced Out of Its League According to Consumer Reports
December 11, 2013, 11:51 AM
OC Dealership Sells Tesla Model S For $103K Worth of Bitcoins
December 9, 2013, 12:01 PM
Ford Ponders Diesel, Hybrid Versions of the Mustang to Meet Fuel Efficiency Guidelines
December 9, 2013, 10:12 AM
House Proposes 15 Cent Federal Gas Tax Increase
December 9, 2013, 10:00 AM
Man Arrested for Using 5 Cents Worth of Electricity to Charge Nissan Leaf at Middle School
December 4, 2013, 8:00 PM
Most Popular Articles
Experts: Masturbation Prevents Cancer, Diabetes, Insomnia, and Depression
December 6, 2013, 2:01 PM
Hackers Nab 2 Million Login Credentials from Facebook, Gmail, Twitter
December 5, 2013, 1:00 PM
Thieves Steal Truck with Cobalt-60 Onboard in Mexico, Will Die "Without a Doubt" from Exposure
December 5, 2013, 12:04 PM
Report: Windows 8.2 Revives Start Menu, Runs Metro Apps in Desktop Mode
December 10, 2013, 2:56 PM
U.S. Navy Fires "XFC" Drone from Underwater Submarine
December 6, 2013, 2:35 PM
Latest Blog Posts
Justice Leaks Details of Next HTC One Two Flagship Phone
Dec 5, 2013, 4:04 PM
Global Cyber Espionage Concerns Reveal Growing Cyber Armies
Nov 29, 2013, 11:04 AM
Is The Period Becoming an Expression of Anger?
Nov 26, 2013, 2:02 PM
NSA and Congress -- You Will Never Kill the Constitution, It's an Idea
Nov 10, 2013, 2:00 PM
AT&T Explores $100B+ USD Deal to Acquire Vodafone's European Operations
Nov 4, 2013, 7:34 AM
More Blog Posts
Copyright 2013 DailyTech LLC. -
Terms, Conditions & Privacy Information