Government Given Incentives for Electric Car Technology

Everybody is excited over electric vehicles these days it seems. The local government is right at the top of this list too! This is why so many state bodies are providing state rebates or incentives that are similar. It seems as if they can’t find enough clever ways to reward consumers. It goes so much further though…they reward businesses and anybody else that utilizes the technology! This sort of state and local involvement is giving consumers more reasons than ever to buy electric. Businesses are given more reasons than ever to provide commodities of sorts to their electric driving clients as well.

Look at These Two Examples from Florida

Florida is a good place to use as an example when describing consumer incentives. They have a little bit of everything. There is a possible insurance discount (state-wide) among many providers. The city of Tallahassee offers a rebate (up to $1000) for either buying or leasing one of these vehicles! California and Colorado have similar consumer incentives in place.

What About the Business Incentives?

All three of the aforementioned states (plus many more,) offer the type of incentives where retailers (and other businesses) are given tax breaks for the installation of public EV equipment. Most of these types of incentives began initially in California and spread throughout the rest of the nation. The incentives can go much further though. Some municipalities offer greater discounts for dollar amounts that are quite capital in nature.

They even having Parking Incentives?

While not the most attractive of the incentives, a large number of states in the union offer preferential parking spots for electric drivers. When considering how close these spots are to their respective public entrances, this could be a nice incentive to consider. It’s always nice to get a good parking spot.

Remember the IRS still has a Program

Let’s not forget that big incentive, the federal one! An electric vehicle credit has been around some time for consumers to take advantage on their 1040. If a consumer buys an electric vehicle, he might get up to $7,500 as a tax credit! As long as your manufacturer has produced over 200k units, they are on the list for this one. For consumers, the federal tax incentive is perhaps the most attractive rebate of them all. While the credit is not refundable (you can’t get the amount back,) it might wipe out any taxes that you owe! If you owe close to $8k, you’ll probably be glad that you bought one.

You could Wind up with a Double Whammy in Savings!

You’re going to save money not pumping all those petroleum fuels into your vehicle every week. Combine that with some of these opportunities, and you could be looking at a respectable financial break. This is especially true if you had your heart set on purchasing an electric car anyway. What’s the big lesson for businesses? You’d better start offering some infrastructure for your electric car customers. You could save money if you do.

Leave a Reply

Your email address will not be published. Required fields are marked *