Instant $7,500 rebate for electric vehicles proposed

Article by Christian Andrei, on February 9, 2011

The Obama administration will reform the plug-in electric vehicles tax credit program so that the $7,500 credit could be given to buyers at the point of purchase. David Sandalow, the Department of Energy’s assistant secretary for policy and international affairs, said that changes will be made in order that the current credit can be claimed by dealers or others.

He said that the consumers will be made to benefit from the credit, saying that this incentive will be more effective this way than if it is applied against income tax returns (which may mean waiting up to a year).

Sandalow said that the rebate will be applied to the sticker price at the dealership; however, regulatory details still have to be worked out. He declined to say when the changes will take effect. This

announcement was made only a day after U.S. Sen. Debbie Stabenow, D-Mich., reintroduced a bill to make the credit available to buyers at the point of purchase.

The Charging America Forward Act was introduced last August, but it was never passed into law. This revision is in line with President Barack Obama’s goal to see 1 million electric vehicles on the road by 2015. [via autonews - sub. required]

Topics: electric car

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