Archive for April, 2014
Vermont’s lone representative in the U.S. House, Democrat Peter Welch, is pushing to increase electric car credits. Representative Welch is going to introduce legislation that would help alleviate the high costs of green vehicles by offering credits up to $10,000, which would be applied to an electric car purchase. Welch made his plans public for his Electric Vehicle Act during a news conference at an electric car charging station in Montpelier.
Welch stated that providing the incentive at the point of sale is the practical way to make it easier for a family to purchase an electric vehicle. Welch also commented about the need to make progress fighting climate change, and he felt the legislation would help bring green cars to more families around the nation.
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As gas prices rise and carbon emissions increase, we should celebrate this Earth Day by considering an alternative, an electric vehicle. Many people believe that electric cars are too costly for purchase or lease, but that may not be the case. Costs have come down dramatically since the release of the electric vehicles, such as the Nissan Leaf, Chevy Spark and the Honda Fit EV. For example, the Nissan Leaf was nearly $40,000, when it was released, but now has a list price under $30,000, with some offering it for under $28,000.
Additional savings come in the form of rebates and tax credits. Every all-electric cars carry a $7500 federal tax credit which you receive get if you lease a vehicle. Some states have additional incentives, including an immediate rebate of $2500 in California. Not to mention that operating costs are also lower with electric vehicles. Consumer Reports estimates that the Nissan Leaf costs 3.5/mile to drive versus 12 cents/mile for gasoline powered vehicles that average 32 MPG. It costs about $40/month in electricity costs for charging the car, less than the cost of one tank of gas for most cars.
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