$2 billion? Nah, more like $12.5 billion for plug-in cars in the stimulus bill
When the big stimulus bill was passed this week, the number that rose to the forefront was a $2 billion investment for plug in vehicles. But, if you add in all the additional plug-in help for things like infrastructure, the actual plug-in stimulus package is closer to $12.5 billion, according to Plug In America's legislative director Jay Friedland. We've taken a look at some of these monies before, but Friedland made a nice list of exactly how much money is available for what. For example, the $6 billion in loans that was approved in EISA (Energy Independence and Security Act of 2007) for the Advanced Technology Vehicles Manufacturer Grant Program was finally funded in the stimulus bill. Other funds, like $1.7 billion for "advanced energy investments," don't necessarily need to go to plug-in vehicles, but could be used that way.You can see Friedland's full breakdown of the $12.5 billion after the jump. When taken together, it sure makes the stimulus bill look much more PHEV-friendly than before. Thanks to Friedland and Plug In America for sending this over.
[Source: Plug In America]
From Plug In America:
The stimulus bill resulted in a total of $12.5 billion for plug-in vehicles and infrastructure:
* $2 billion for advanced battery manufacturing,
* $2B A credit of $2,500 to $7,500, depending on size of battery,1 for electric-drive vehicles under 14,000 pounds GVWR sold after December 31, 2009:
o The credit will phase out by maker. Each maker will get 100% credit for 200,000 vehicles, and all additional vehicles sold in the first quarter after the quarter containing the date at which the manufacturer hits the 200,000 limit. The "phaseout" period begins in the following quarter.
o In the first and second quarter of the "phaseout," all electric-drive vehicles sold by this manufacturer get 50% of the previous credit.
o In the third and fourth quarter of the "phaseout," all electric vehicles get 25% of the previous credit.
o After the fourth quarter, there is zero credit for electric drive vehicles from this manufacturer.
o There does not appear to be a termination date for this portion of the bill (unlike the low speed and conversion kit terminations, you could take until, say, 2015 to get to your 200k).
o There does not appear to be a limit to the number of vehicle manufacturers that can qualify for this process.
* 10% separate consumer tax credit for 2-3 wheeled vehicles (up to $25,000 for a $2500 tax credit). This incentive helps the most affordable and already available vehicles including electric motorcycles and enclosed 3 wheelers like Aptera, Persu Mobility, and Myers Motors. Vehicles must have a minimum of 2.5 kWH or battery energy. Sunsets 12/31/2011.o In the first and second quarter of the "phaseout," all electric-drive vehicles sold by this manufacturer get 50% of the previous credit.
o In the third and fourth quarter of the "phaseout," all electric vehicles get 25% of the previous credit.
o After the fourth quarter, there is zero credit for electric drive vehicles from this manufacturer.
o There does not appear to be a termination date for this portion of the bill (unlike the low speed and conversion kit terminations, you could take until, say, 2015 to get to your 200k).
o There does not appear to be a limit to the number of vehicle manufacturers that can qualify for this process.
* 10% credit for low speed electrified vehicles, up to $2,500 until December 31, 2011.
* 10% credit for conversion kits up to $40,000 credit until December 31, 2011. To qualify, conversion kits must still meet Clean Air requirements.
* $1.7B 30% credit for advanced energy investments, such as plug-in vehicle manufacture,
* $54M for tax credits on Alternative Refueling Property (including EV/PHEV charging)
(they raised the limit from 30% and $30,000 to 50% and $50,000 until 1/1/2011)
(also increased the residential refueling property tax credit to 50% capped at $2000)
(This is a TARP modification)
* $400 million for deployment of plug-in infrastructure and vehicles.
* $300 million to regional deployment of electric drive and alternative fuel vehicles.
* $300 million for the federal purchase of commercially available high-efficiency vehicles (including hybrid, plug-in hybrid, and battery electric vehicles) to remain available until September 30, 2011.
* $10 million additional for administration of Advanced Technology Vehicles Manufacturer Loan Program and $6 billion additional to Innovative Technology Loan Guarantee program which could go to plug-ins.
And: $6 billion goes to for grants under the EISA (Energy Independence and Security Act of 2007) for the Advanced Technology Vehicles Manufacturer Grant Program which was approved but wasn't funded before. This program provides grant funding like the loan funding to help automakers retool to make much more fuel efficient vehicles like EVs and PHEVs.
Reader Comments (Page 1 of 1)
gorr 9:24PM (2/21/2009)
This will not work because the car industry said that it don't work and consumers don't want these costly underpowered cars without range and long recharge time that impede you to leave your town to go to swim at the beach, to las vegas, to uncle joe, visit grand ma, to sell your car after 2 weeks, to cease your renting contract after 1 months, to circulate in hilly san-francisco, in winter, at high speeds with 4 passengers, to do taxi, to find a recharging spot, to wait 4 hours each 2 hours of travel, to buy 2 inneficient power plant like the volt of gm. This is just another contract from the martians.
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ryan 9:51PM (2/21/2009)
It is my belief that gorr is actually a malfunctioning bot, which has access to huge text databases and was programmed by the hydrogen business community. That is really the only explanation that makes sense, looking at the posts that it always makes.
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Chris M 12:57AM (2/22/2009)
It's like the old ELIZA program, sometimes it seems to make sense, but you're never really sure it "got it".
jharlan 10:42PM (2/21/2009)
I'll bet this will take off in college communities like Santa Cruz CA. I was just there and I have never seen so many Toyota Priuses in any one place!
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jpm 4:05AM (2/22/2009)
I used to live in Berkeley. I heard that it was #1 in the country for Prius sales. But that, these kind of places will be early adopters.
RAN 10:52PM (2/21/2009)
Definitely malfunctioning.....
PS: speaking of malfunctioning, what good is a "remember me" box when I have to enter my e-mail/password every time??? Just something to play with???
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Chris M 12:55AM (2/22/2009)
The e-mail and password are usually stored as a "cookie" by your web browser. If your browser is set to not store cookies, or to erase all cookies when exiting, that info is lost and you must re-enter it the next time. So check the "cookies" settings in your web browser (it might be under "security settings") and you might be able to solve that little problem.
BTW, there is a little peculiarity that ABG put in, if you enter more than 2 comments on the same posting page, it forces you to re-enter your e-mail and address. I guess it is an anti-spamming measure of sorts.
Mark F 4:15PM (2/22/2009)
I wonder why Congress did not fund the $6 Billion from the 2007 bill up until now? Oh, yeah, wrong president.
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TX CHL Instructor 7:19AM (2/22/2009)
"the actual plug-in stimulus package is closer to $12.5 billion"
However, since this is from our government, at least 90% of it will line the pockets of government bureaucrats before any of it "trickles down" to the car industry. Unfortunately, that will still be enough to "stimulate" the poor business models, in this new "savior-based" economy.
If you want more of something, subsidize it. So the Obamassiah is going to get a lot more of the wasteful bad business decisions that lead to the current crisis.
If you want less of something, tax it. Guess what? We are going to get a lot less of capital gains.
--
www.chl-tx.com
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Herm 1:22PM (2/22/2009)
get with the program Tex, this is the era of the Obamanation.. in any case you are wrong, usually gov programs spend about 80% in "administrative" cost so at least 20% will make it to the intended destination.
Frank Hummel 1:32PM (3/01/2009)
Even assuming (for argument's sake) that what you say is essentially correct --- that would STILL be better than what "we" have gotten from the AUTO MANUFACTURERS THEMSELVES for now lo many years.
The larger, IRREFUTABLE reality, which even STILL goes largely unspoken --- perhaps for fear of actually unleashing the general vituperation that much of "our" past MISguided (or perhaps merely MISBEGOTTEN!) MIS"leadership" --- of BOTH the "POLITICAL" and ALSO the "CORPORATE" varieties, evidently richly DESERVES --- is that the alternative-ENERGY "INITIATIVE" now being so belatedly "pioneered" in the persona of the Chevy VOLT battery-"mini-locomotive" CHIMERA, IS NOT SOME SORT OF "EXOTIC" REVOLUTIONARY NEW TECHNOLOGY!
Rather, it is an application of very OLD, LONG-ESTABLISHED, HEAVY-DUTY technological concepts to a MUCH LIGHTER application than the Diesel-Electric MASSIVE LOCOMOTIVES and the LARGEST SHIPS for which they were originally developed ABOUT SIXTY OR MORE YEARS AGO NOW ALREADY!
This alternative, which can enable "us" to ELIMINATE about THREE-FOURTHS of all the importation of OTHER PEOPLES' OIL to be brainlessly burned up as a MERE FUEL for our automobiles COULD (AND SHOULD!!) HAVE BEEN SERIOUSLY PURSUED MANY YEARS AGO NOW ALREADY! People should NOW be WISING UP to the DERELICTION OF DUTY by ALL those supposedly wonderful "wise and sagacious Whiz-Bangs in this nation's recent political and corporate history who have FAILED to do what would have ACTUALLY been the RESPONSIBLE thing --- preferring instead to try to PERPETUATE for as long as possible the "Business-as-Usual" reliance on OUTMODED technology, EVEN AT THE COST OF A MILLION OR SO HUMAN LIVES (IN ALL) OVER IN A PLACE LIKE IRAQ by way of trying to continue to "control" major supplies of OTHER PEOPLES' OIL.
Eric 2:05PM (2/22/2009)
Way to go Plug in America and EV manufacturers!
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stclair5211 2:35PM (2/23/2009)
Plugs in are the DUMBEST thing ever. The going green movement needs to combine its worry for the planet - which is FINE, with common sense.
Anyone with any common sense knows plug ins are a waste of time, and ultimately will cost us more - in both money and environmental impact.
This is all about money - not the planet. The greatest marketing scheme since "Be like Mike." It is brilliant I will give it that!
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