Atlanta Electric Vehicle Development Coalition

Atlanta's Home for Electric Vehicle News and Information


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The ABCs of EVs Part 2: Ford Infographic

Ford recently released an infographic that beautifully explains the features and differences of hybrids (HEVs), Plug-in Hybrids (PHEVs), and full electric cars (BEV). AEVDC first saw this graphic in insideevs.com and felt that it is an excellent visual follow-up to its post on the ABCs of EVs. Read our post then check out this graphic to gain an  better understanding of the ABCs of Electric Vehicles.

Ford Inforgraphic

 


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High Gas Prices Got You Considering an EV? Consumer Reports has two Reviews for you!

With gasoline prices skyrocketing, many metro Atlantans are considering an electric powered vehicle.  If that’s you, then here are two recently released Consumer Reports reviews and ratings for Electric Powered Vehicles and Home Charging Units.  With fewer moving parts, Consumer Reports is finding that the first generation of electric powered vehicles are very reliable.  From my personal experience, my Chevrolet VOLT has been the most reliable and trouble free vehicles I’ve ever owned.   Click here for the full article.

If you purchase or lease an EV, you should seriously consider installing a residential charging unit and taking advantage of Georgia Power or other electricity provider’s PEV plan.  I’ve saved almost $500 on my whole house electric bill including charging my VOLT over the last 18 months!  According to Consumer Reports, power, portability, cord length, and remote access are important features that should influence EVowners’ decision about which home charging unit to buy.  To see their comparison of 8 residential EV charging systems, click here.  I recommend the 240V option due to faster charging times which is the real benefit of a home installed charger.  But be aware that you may need to have an electrician install the power line and the unit and a permit may be required. Check each manufacturer or retailer’s website before you shop as they offer manufacturer rebates or store discounts from time to time.

Consumer Reports

 

 

 


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Electric Vehicle Tax Credits – Georgia

Now that you are excited about buying or leasing an Electric Vehicle, you will need to understand the types of tax credits which apply to the vehicle, especially here in Georgia. And before you start counting the tax credits, be sure to consult with your own personal tax advisor or contact one of the tax preparation firms for advice.  The EV tax landscape at the Federal level (200,000 manufacturer vehicle limit than phase down) and in the State of Georgia (2014 HB257 tried to eliminate the EV tax credit) are changing so it is ‘buyer beware’.

But here is some general information you should know about how the income tax credits work if you purchase or lease an EV/PHEV in Georgia;

1).  Up to $7,500 Federal Income Tax Credit – If you purchase a qualifying EV/PHEV, the Federal Government offers a one time (one tax year) credit of up to $7,500.00 to offset income tax liability.  Each qualifying vehicle has a designated tax credit amount based on its battery capacity (e.g. 16 kWh for Chevrolet VOLT supports the full $7,500 income tax credit). http://www.irs.gov/uac/Energy-Incentives-for-Individuals-in-the-American-Recovery-and-Reinvestment-Act for full details. Most of the fully electric vehicles (BMW i3, LEAF, VOLT, Tesla) qualify for the full $7,500.  The Honda Accord Plug-In($3,626)  and the Ford C-Max and Fusion Energi models ($4,007) are significantly lower.  IRS data as of June 24, 2014.

If you lease the EV/PHEV, the finance or leasing company takes the Federal Tax Credit and should provide the benefit of that credit to you through the lease payment  (the calculation of which is already very complicated so ask the dealer to walk you through the lease payment worksheet).  You do not get to claim the tax credit on your own taxes.  So take time to understand what you are getting when you lease an EV!

2).  Up to $5,000 State Income Tax Credit – if you purchase a qualifying ZERO EMISSION VEHICLE.  Note the difference here.  Not an EV or a PHEV but a ZEV.  In Georgia that covers the Nissan LEAF, Tesla Model S and the BMW i3.  It does not apply to any vehicle which also has a gasoline powered engine or generator (Chevrolet VOLT, Ford C-Max and BMW i3 with range extender). Again if you lease a vehicle in Georgia, the ZEV tax credit goes to the finance or leasing company.  Be sure you understand how that tax credit gets included in the calculation of your lease payment!

State of Georgia Zero Emission Vehicle (ZEV) Tax Credit

An income tax credit is available to individuals who purchase or lease a new ZEV. The amount of the tax credit is 20% of the vehicle cost, up to $5,000. For the purpose of this credit, a ZEV is defined as a motor vehicle that has zero tailpipe and evaporative emissions, including a pure electric vehicle. Low-speed vehicles do not qualify for this credit. Any portion of the credit not used in the year the ZEV is purchased or leased may be carried over for up to five years. For more information, see the Georgia Department of Natural Resources Alternative Fuels and Tax Credits website.

Be aware that the 2015 Georgia Legislative Session will very likely amend/reduce the ZEV tax credit!  So if you and your accountant agree that you can use the Georgia Tax Credit, consider making your lease or purchase as soon as possible in 2014.

The Federal and State of Georgia Income Tax Credits can be used on the same qualifying vehicle.  So the maximum tax credit you can use is $12,500.00!


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Georgia Alternative Fuel Vehicles ROADSHOW Stop #1 – Atlanta GA

I attended the first stop of the 4th Annual Georgia Alternative Fuel Vehicle ROADSHOW on June 17, 2014 held at the Georgia International Convention Center.  Based on the presentations, I see  growing Public-Private partnerships to drive EV ownership and infrastructure development in metro Atlanta and throughout the State of Georgia. Georgia Public Service Commissioner Tim Echols sponsored the Roadshow and has now taken it to eight cities across the state June 17-26, 2014. Don Francis, Executive Director, Clean Cities Georgia was on hand to help kick off the event and bring his growing EV optimism to the audience. Representatives from  public utilities (Ben Echols – Georgia Power), EV vehicle manufacturers (Cornelius Willingham -Nissan) and EVSE (Mike Anderson efacec) presented a compelling view of the emerging public-private partnerships taking place in Georgia to drive EV and Alternative Fueled Vehicle adoption. Willingham said that after home based charging, workplace  charging is the number 2 place preferred by EV owner. Nissan offers a full assessment of workplace charging needs and free Nissan LEAF ‘ride and drive’ events at the location. Surprisingly, only 1,000 EV/PHEV Georgia Power customers are on the PEV Time of Use Plan, said Ben Echols.  As a VOLT owner, I’ve saved almost $500 over the last 18 months on my entire home electric bill!  If you drive an EV, and Georgia Power is your electric utility provider, you owe it to yourself to check out the PEV plan.  See the link on the Resources page.