US tax credit incentives for alternative fuel vehicles

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Contents 1 Hybrid Motor Vehicle Credit 2 Electric Vehicle Tax Credit (1992-2007) 3 Biodiesel and Ethanol Tax Credit (2005-2010) 4 References

Hybrid Motor Vehicle Credit

This provides tax credit for light duty hybrid vehicles based on improved fuel economy and fuel saving potential.

Electric Vehicle Tax Credit (1992-2007)

Energy Policy Act 1992 sets up tax credit for consumers who purchase qualified EV’s. It used to reimburse the buyer 10% of what they paid for the vehicle cost up to $4000. This year , 2006, the credit was reduced by 75% and will expire next year

Biodiesel and Ethanol Tax Credit (2005-2010)

Another tax incentive for the fuels biodiesel and ethanol. Blenders and retailers are credited $0.51 per gallon of pure ethanol and $0.0051 per % points of blended ethanol (ex - E10: $0.051/gal, E85: $0.4335/gal). Producers are credited $0.51 per gallon ethanol that has greater than 190 proof, $1 per gallon of agri-biodiesel fuel, and $0.51 per waste-grease biodiesel fuel. Producers also get $0.0051 for each % point ethanol, $0.01 per % point agri-biodiesel $0.005 per % waste-grease biodiesel in mixed fuels.

References

[1] U.S. Department of Energy - State & Federal Incentives & Laws