Government incentives do favor electric vehicles (EVs) over hybrids in certain ways, though both types of vehicles are supported. Here’s how:
Federal Incentives
- New Vehicles: Both electric and plug-in hybrid vehicles can qualify for a federal tax credit of up to $7,500 for new purchases. This credit is available for qualifying vehicles and is not restricted to EVs only.
- Pre-owned Vehicles: Starting January 1, 2023, pre-owned all-electric, plug-in hybrid, and fuel cell electric vehicles can receive a federal tax credit of up to $4,000, which is 30% of the sale price. This applies equally to both types of pre-owned vehicles.
State Incentives
- Some states offer specific incentives that may favor EVs over hybrids. For example, Pennsylvania provides a $2,000 rebate for battery electric vehicles and $1,500 for plug-in hybrids.
- Additionally, low-income households may receive additional bonuses for purchasing EVs in states offering such programs.
Road Tax Policies
- Road tax policies vary by state, but many states exempt or reduce taxes for EVs, which can indirectly favor them over traditional hybrids.
In summary, while both electric and hybrid vehicles benefit from incentives, some state programs and tax policies may provide more direct benefits to electric vehicles by offering additional rebates or exemptions. However, at the federal level, both types of vehicles are eligible for similar tax credits.
Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/are-there-any-government-incentives-that-favor-electric-vehicles-over-hybrids/
