New Federal Tax Credits for Plug-In Electric Vehicles

On October 3, 2008, Federal tax credits were signed into law a s part of the Emergency Economic Stabilization Act of 2008.

Tax credits for first 250,000 plug-in vehicles:
$2,500 if at least 4kWh of batteries

Each additional kWh earns another $417 up to:

$7,500 if vehicle weighs up to 10,000 lbs
$10,000 for vehicles 10,000-14,000 lbs
$12,500 for vehicles 14,000-26,000 lbs
$15,000 for vehicles over 26,000 lbs

Now that’s a stimulus package!

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