According to the latest news, the Federal Government will pull its funding to ease the cost of buying an electric vehicle charger. Up until now, the Fed’s have been discounting these units as an incentive to get the public to buy an electric vehicle. In 2010, the deductions covered 50% of the cost, and in 2011 it was reduced to 30%. Now it seems that from 2012, no deduction will be offered to those buying these charging units.
If you use electric vehicles for commercial use, the savings were good for up to $30,000; but that will no longer be the case either.
Genevieve Cullen, the vice-president of the Electric Drive Transportation Association said that: “The timing of this couldn’t be more unfortunate”. Cullen and her supporters have been urging congress to extend the tax deduction, but it doesn’t appear to be working at this moment. However, if you buy an electric car now, you will still get the $7,500 tax credit offered by the government. So if you are thinking of buying an electric car, buy it before the government pulls its support from that program.
In 2011, the electric car and plug-in hybrids accounted for less than 2% of new car sales in the States.