Stimulus Spells Payday for Electric Vehicles Too

The recent American Recovery and Reinvestment Act, also known as the stimulus package, has significant provisions for electric vehicles.  The act includes $2.5 billion in grants to be dispersed in three parts:

·     $1.5B for U.S. manufacturers of high-efficiency batteries

·     $0.5B for U.S. manufacturers of other components in electric vehicles

·     $0.4B for demonstration projects for PHEVs, including infrastructure costs for the vehicles.

The bill also has an important provision to give a $7,500 tax credit to anyone who buys a PHEV.  The goal has been to “catch up” with foreign countries in alternative fuel vehicles, and put 1 million “environmentally friendly” vehicles on the road in the US by 2015.

This stimulus bill is so big that we have spent a few weeks covering it at SmartGridNews.  Qualms about budget deficits and a growing government sector aside, this represents one of the biggest investments in energy in the century.  But, unless we get more than a patchwork set of investments, these funds will eventually dry up.  We are still a long ways from a comprehensive energy policy.

My advice: get your PHEV before the funds dry up.

   Read the Physorg Article on the EV Stimulus

   Read the CNET Article on the EV Stimulus