Author Topic: Federal 10% EV tax credit is ALIVE again  (Read 1652 times)

Brammofan

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Federal 10% EV tax credit is ALIVE again
« on: January 03, 2013, 03:06:05 PM »
Government Tax Credit Extension for 2-Wheel Electric Vehicles
Promises Growth for Brammo and Jobs Locally

ASHLAND, Ore., January 2, 2013 – Brammo Inc., a leading developer of electric vehicle
technology and manufacturer of two-wheel electric vehicles is delighted by the news from
Washington D.C. that the federal tax credit for electric motorcycles and other two and three-
wheeled vehicles has been extended through 2012 and 2013. With this extension, electric
motorcycle enthusiasts will continue to receive personal tax incentives when purchasing the
Enertia Plus, Empulse and Empulse R models.

The provision, passed late last night along with other fiscal reforms, extends the federal tax
credit for plug-in two and three-wheeled electric plug-in vehicles for two years. This tax credit
can cover up to 10% of the vehicle's cost or a maximum of $2,500.

Brammo sends particular thanks to U.S. Senator Ron Wyden (D-Ore.) whom offered the
amendment and fought for it in the final hours of the Congress, and Congressman Greg
Walden (R-Ore.) who protected the tax credit in the House under the most difficult of
circumstances. Additional support from U.S. Sen. Jeff Merkley (D-Ore.) not only for electric
vehicles, but for sustainability and clean energy initiatives overall, will continue to help drive
Oregon as a leader of green and clean legislation.

“This bi-partisan work and cooperation results in jobs and support for companies like Brammo,”
said Craig Bramscher, CEO of Brammo. “It makes us proud when our elected office holders
work together and excited for what this means for electric vehicles and the electric motorcycle
industry, which will make these ‘vehicles of the future’ more accessible to all consumers.”
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protomech

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Re: Federal 10% EV tax credit is ALIVE again
« Reply #1 on: January 03, 2013, 04:23:37 PM »
The one hand gives and the other hand takes.

Oregon is in discussions to institute a road tax on EVs and other high-mileage vehicles, similar to Washington state. Note that they're talking about CAFE mpg - 55 mpg CAFE is roughly equivalent to 40 mpg EPA.
http://www.statesmanjournal.com/article/20130102/news/301020088/1103

Seems like it would be easier to scale the gas tax per gallon based upon the previous year's revenue. Ex if the target is $500M and 3B gallons of gas were sold in the state last year, then charge $0.167/gal for the next year. If 2.8B gallons of gas are sold the next year, then charge $0.179 the following year.

Oregon might have a few thousand EVs on the road. If the per-vehicle fee is $100/year, total revenues would be about a tenth of a percent of their target goal.

If they want to fix an increasingly broken tax system, then tax registered vehicles based upon gross vehicle weight. Heavily laden trucks tear up roads, not motorcycles and passenger cars.
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EmpulseRider

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Re: Federal 10% EV tax credit is ALIVE again
« Reply #2 on: January 03, 2013, 05:41:09 PM »
The 10% Federal Tax Credit has been added back into my TCO Calculator and the Colorado Tax Rebate has been removed. Its not live yet as im getting slammed with work after the holidays.

BTW, lots of new stuff will be added! Biggest update in a LONG time. I had hosed my code base trying to add the metric conversions in, so that will be delayed a little while. I should have everything uploaded (minus the metric stuff) next week. For real this time. ;D

Richard230

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Re: Federal 10% EV tax credit is ALIVE again
« Reply #3 on: January 03, 2013, 08:43:37 PM »
I am looking at the electric power bill that I received a couple of days ago and it includes the following additional fees: 

Public Purpose Programs (about 13%)
Nuclear Decommissioning (.04%)
DWR Bond Charge (4%)
Ongoing CTC (.8%)
Energy Cost Recovery Amount (4%)
Energy Commission Tax (.24%) and finally
Utility Users's tax (6.5%)

It seems to me that I am already paying sufficient taxes to power my EV.  Why do they need more, especially when electric vehicles make up so little of the highway traffic, especially on a yearly mileage basis?  ???  Take it out of the Public Purpose Programs fee.   ::)
current bikes: 2014 14.2 kWh Zero S, 2011 Royal Enfield Bullet 500 Classic, 2009 BMW F650GS, 2007 BMW R1200R, 2005 Triumph T-100 Bonneville, 2002 Yamaha FZ1 and a 1978 Honda Kick 'N Go Senior.

protomech

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Re: Federal 10% EV tax credit is ALIVE again
« Reply #4 on: January 03, 2013, 09:09:43 PM »
I'm okay with an EV road use tax if we can partly fund the DOD through a "foreign oil defense" tax on gas.

I figure we'll do a bit better than breaking even on that.
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Brammofan

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Re: Federal 10% EV tax credit is ALIVE again
« Reply #5 on: January 04, 2013, 10:01:59 AM »
More coverage of this in Business Week:

http://www.businessweek.com/news/2013-01-03/congress-aids-oregon-electric-motorcycle-maker-in-budget

Quote
Brammo’s customers will be eligible for tax credits of as much as 10 percent of the price of models like the $7,995 Enertia and the $18,995 Empulse R. Bramscher said the company sells thousands of motorcycles a year and may see sales grow 20 percent to 30 percent.

“We’re ramping up right now to produce more bikes every day,” Bramscher said. “Based on quick dealer feedback we’ve just had this morning, it’s going to have an impact.”
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protomech

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Re: Federal 10% EV tax credit is ALIVE again
« Reply #6 on: January 04, 2013, 11:55:42 AM »
Quote
Bramscher said the company sells thousands of motorcycles a year

I wouldn't be surprised if they sell a thousand bikes in 2013 .. but I am a little surprised to hear they have manufactured thousands of units prior to the Empulse.
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