Consumers now have access to a free tool developed by Oak Ridge National Laboratory (ORNL) researchers to help them understand the electric vehicle tax credits available through the Inflation Reduction Act. Located on the Department of Energy’s fueleconomy.gov website, the tool shows eligible vehicle models along with the corresponding federal tax credit.
The new clean vehicle tax credit is for purchases of all-electric, plug-in hybrid electric, and fuel cell electric vehicles in 2023 and beyond. A separate credit is available for eligible used vehicles purchased in 2023 or after. Information on credits for vehicles purchased before 2023 is also available on the tool.
“Tax rules can be confusing, and with more electric vehicles on the roadways than ever before, it’s essential that current and future owners have a clear picture of the benefits,” said ORNL’s Stacy Davis. “This tool makes it easy to see the potential tax savings.”
The ORNL tool is a great resource for consumers looking to purchase an electric or fuel cell vehicle. It provides an easy way to understand the tax credits available and make an informed decision about their purchase. Consumers can also sign up for daily news updates from CleanTechnica on email or follow them on Google News for more information about electric vehicles and other clean technologies. Additionally, those who would like to support CleanTechnica can chip in a bit monthly via PayPal or Patreon to help their team do what they do!
FAQ
Q1. How electric car chargers work?
A1. Electric car chargers work by connecting to an electrical outlet and providing power to the car’s battery. The charger then converts the electricity into a form that the car’s battery can use.
Q2. What electric car has the longest range?
A2. The Tesla Model S has the longest range of any electric car currently on the market, with a range of up to 370 miles on a single charge.
Q3. How electric car batteries are recycled?
A3. Electric car batteries are recycled by breaking them down into their component parts and then separating out the metals, plastics, and other materials for reuse. The metals are melted down and reused in new products, while the plastics and other materials are recycled into new products.
