…Under current conditions and taking into account available tax credits, purchasers of electric vehicles will face lifetime costs that are generally higher than those of conventional vehicles of comparable size and performance, according to a recent presentation by the Congressional Budget Office (CBO) at the 2013 EIA Energy Conference. Tax credits can amount to as much as $7,500 per vehicle. “That conclusion takes into account both the higher purchase price of an electric vehicle and the lower fuel costs over the vehicle’s life,” CBO said. “The additional tax credit that would be required for electric vehicles to be cost-competitive with other vehicle options is smaller for electric vehicles that have small batteries or that are substituting for vehicles with low fuel economy,” it added. The CBO presentation can be seen here.
© 2013 Thomson Reuters/RIA. All rights reserved.
