Details | Plug-In Electric Drive Vehicle Credit


Funder

 

United Stated Internal Revenue Service

Implementer

 

United Stated Internal Revenue Service

Description

 

Internal Revenue Code Section 30D provides a credit for Qualified Plug-in Electric Drive Motor Vehicles including passenger vehicles and light trucks. For vehicles acquired after December 31, 2009, the credit is equal to $2,500 plus, for a vehicle which draws propulsion energy from a battery with at least 5 kilowatt hours of capacity, $417, plus an additional $417 for each kilowatt hour of battery capacity in excess of 5 kilowatt hours. The total amount of the credit allowed for a vehicle is limited to $7,500. The credit begins to phase out for a manufacturer vehicles when at least 200,000 qualifying vehicles have been sold for use in the United States (determined on a cumulative basis for sales after December 31, 2009).

Funding guidance

 

Applications open

 

None

Applications close

 

None

Type

 

Tax Credit

Category

 

Financing

Territory

 

United States

Applicant type

 

For Profit  |  Non Profit  |  Private Resident

Project

 

Real Estate and Asset Purchases

Sector

 

Commercial  |  Industrial  |  Residential

Sub-sector

 

Multi Family  |  Single Family

Sustainability

 

Electric Vehicles

Additional website

 

Small business

 

False

Disadvantaged communities

 

False

Cost sharing amount

 

None

Cost sharing percent

 

None

Cost sharing note

 

Minimum repayment years

 

None

Maximum repayment years

 

None

Interest rate comment

 

Incentive