An analysis released earlier this month by the Department of Energy (DOE) found that while manufacturers are planning to produce in the range of one million electric vehicles (EV) by 2015, additional policy steps will also be needed to further drive innovation, reduce costs and spur consumer demand. “One Million Electric Vehicles by 2015” details DOE investments in EV infrastructure, research and development and demonstration projects national wide.
The Administration is proposing a three-part strategy:
1. Making electric vehicles more affordable with a rebate up to $7,500: The President is proposing to transform the existing $7,500 tax credit for electric vehicles into a rebate that will be available to consumers immediately at the point of sale, instead of having to wait for tax returns to be filed.
2. Advancing innovative technologies through new R&D investments: the President’s FY2012 budget proposal will include enhanced R&D investments in electric drive, batteries, and energy storage technologies.
3. Rewarding communities that invest in electric vehicle infrastructure through competitive grants: To provide an incentive for communities to invest in EV infrastructure and remove regulatory barriers, the President is proposing a new initiative that will provide grants to up to 30 communities that are prioritizing advanced technology vehicle deployment.
Bob Batson is President of Electric Vehicles of America, Inc.