EV sales have steadily risen in recent months - Belmont, in particular has seen relatively enormous growth in EV adoptions, including 11 new EVs in May alone - and the incentives available are likely a major part of that growth.
There is a federal tax credit worth up to $7,500 and a Massachusetts rebate of up to $2,500. Both, however, have limited lifespans, and we've seen incentives in other states already come to an end. Georgia, for instance, had a $5,000 tax credit prior to 2015, and it has since repealed that credit, while establishing a new $200 yearly fee for EVs (apparently to pay for lost gas tax revenues). As a result, EV sales have since dropped nearly 80% in Georgia. The federal tax credit, meanwhile, allows for a limited number of credits given to individual car manufacturers, and Tesla and GM are on pace to reach their limits next year.
That said, the incentives globally continue to be strong, and EV adoption in high-carbon countries like China and India is soaring. A dozen U.S. states (including MA), representing a third of the country's population, has signed on to a new alliance aiming to continue, or even exceed, the Paris Agreement objectives. At the end of the day, the global market should keep US manufacturers on an EV-friendly trajectory, particularly with consumer, government (state support remains largely stronger than ever), and business demand fueling EV market growth. One way or another, there remains little doubt that EVs will continue to take over the auto market.
Read more: http://www.fleetcarma.com/ev-tax-incentive-impact-electric-automakers/
Over the weekend, at Belmont Town Day, Belmont Drives Electric and Belmont Light unveiled a new public EV charger in Belmont Center. This charger provides space for two vehicles to charge at once, and is conveniently located in the Claflin lot.
The Belmontonian has published an article highlighting the unveiling ceremony, which was attended by all three Belmont Selectmen, and other town figures.
With the new charger, we hope more people will see how easy driving electric really is!
Earlier this month, we held a Ride and Drive event at Belmont High School. Belmont residents attended the event to check out and test drive EVs from a half-dozen manufacturers, and came away extremely impressed with the look and feel of the cars, as well as the numerous environmental benefits and affordable options. Before the event, local EV owners volunteered to participate in an EV convoy through town.
If you were unable to attend, feel free to learn more about EVs and the Belmont Drives Electric program by perusing the presentation from the event.
Join us Thursday, October 13th, 6:30-8:30pm and Saturday, October 15th, 2:30-4:30pm for a Town-wide launch of Belmont Drives Electric. We will have several all-electric and plug-in hybrid electric vehicles available for test drives. Speak with EV coaches to learn about the cars!
If you already own an EV, we encourage you to bring it and share what you think!
RSVP requested but not required to BelmontDrivesElectric@gmail.com