Hybrid Vehicles Are Taking Over

Just a short time ago, hybrid automobiles seemed like something far off in the future that no one would ever really drive – almost like some sort of space car. Now, they are actually becoming more and more popular with drivers, as they start to realize the advantages of these vehicles greatly outweigh the positives. Hybrids are becoming more affordable as well, easily comparable to the price you pay for other vehicles of the same style that are not hybrids.

By using at least two energy sources in order to power a vehicle, hybrid automobiles can help their owners save money month after month when it comes to paying for gas and filling up at the pump. Even though these vehicles still require gasoline in order to function, they also operate using battery power from that of an electric battery. Another common type of hybrid vehicle is called plug-in-electric vehicles. These are actually plugged in to be charged, or they charge as the vehicle runs while it is being driven somewhere.

Hybrid vehicles not only ease the pain at the pump, but they also are much better for our environment. They produce less emissions than a typical vehicle and are crafted in a special aerodynamic shape that allows them to be less wind-resistant. Some hybrids are even made out of special material that allows for the majority of its parts to be easily recycled once the vehicle is no longer used or too old to be driven any longer.

Popular models of hybrid vehicles include the Honda Civic, Honda Insight, Toyota Camry, Toyota Prius, and Lexus RX 450h. Each of these automobiles offer top-of-the-line features, great gas mileage, and a promise to help their owners save money in the long run. With the non-hybrid version of these vehicles being some of the most popular ones on the market, it only made sense for the auto companies to start manufacturing them in hybrid form, to offer that option to their customers as well.

What once appeared to be something too futuristic to imagine has now turned into a very viable and realistic option for those seeking to purchase a new vehicle. Hybrid automobiles have become incredibly popular, and for good reason – who isn’t looking to save some money as they fill up their gas tanks and watch their savings drain? While hybrids won’t completely solve the problems associated with high gas prices, they sure can help to ease that pain and save owners a decent chunk of change.

Relevant Details on the Obama Administration’s Stimulus Package Tax Credit For Hybrid Vehicles

President Obama’s stimulus bill, which is also referred to as the American Recovery and Reinvestment Act of 2009, enables us to claim certain benefits for hybrid vehicles. More specifically, Hybrid vehicles are offered a tax credit as per the stimulus package. All vehicles purchased from the year 2006 are eligible for the hybrid vehicle tax credit. The following includes some of the details of of the stimulus package.

Note that the best person to guide you effectively in this aspect is your tax consultant. Choose a good consultant and check out all possible details before filing your returns. You can also go online and read reviews, analysis and reports on the stimulus tax credit for hybrid vehicles to find more details.

The credit amount depends on multiple factors:

First, you must be the owner of extended range electric vehicles or plug in hybrids. Your hybrid model has drive trains which are powered by both rechargeable batteries and internal combustion engine.

Second, your eligibility depends on the vehicle model and the state where it was purchased. This scheme is also known as the Alternative Motor Vehicle Credit and all vehicles purchased after 1st January 2006 are eligible for this.

Third, if your hybrid vehicle was on road in the year 2008 and you are a taxpayer, then you can certainly claim credit. However, according to the stimulus package, credit will be given only to those who are the actual owners of the hybrid vehicles and not for those who have purchased the vehicle on a resale in the year 2008.

Fourth, the vehicle size and battery pack also plays a role in determining your eligibility for tax credit in the plug-in hybrid range. If you own a Chevy Volt, you should get a credit somewhere around $7,500 if you qualify. If you own a plug-in truck you may even be eligible for credit that can be as high as $15,000.

Finally, if your vehicle is extremely fuel efficient, you may even be eligible for credit worth $3,000.

In addition, there are other factors to consider:

  • Credits will be given to new hybrid vehicles (those models which came out last year). The limit for a manufacturer is 60,000 vehicles. After this number of vehicles is sold, the available credit starts coming down until it is completely eliminated. Vehicle owners must wait for the manufacturer to reach the sales limit and file before the end of third month following the quarter.
  • The manufacturing company is not an eligibility criterion and as of now around 500,000 vehicles are eligible for tax credits.

It is also worth noting that there are other benefits offered in this package, including a $2 billion grant for manufacturing and development in the battery sector. A tax paying buyer who goes in for vehicle conversion will be eligible for up to 10% of the conversion price or a maximum of $4,000.

In conclusion, whether you own a hybrid vehicle, or if you are planning on buying a new hybrid car, you may be pleasantly surprised to find a deduction in your local sales tax and auto loans.

Electric Vehicles

Nowadays people have more varied choices in buying vehicles and cars. As now they have the option of electric vehicles. But what exactly electric vehicle is? In simple words an electric vehicle, or EV, is a vehicle with one or more electric motors for propulsion. Thus, the motion may be provided either by wheels or propellers driven by rotary motors, or in the case of tracked vehicles, by linear motors.

The energy used to propel these kind of can be obtained from various sources such as:

1. From chemical energy stored on the vehicle in on-board batteries: Battery electric vehicle

2. From both an on-board rechargeable energy storage system (RESS) and fueled propulsion power source: hybrid vehicle

3. Generated on-board using a combustion engine, as in a diesel-electric locomotive

4. Generated on-board using a fuel cell: fuel cell vehicle

5. Generated on-board using nuclear energy, on nuclear submarines and aircraft carriers

6. From more esoteric sources such as flywheels, wind and solar

7. From a direct connection to land-based generation plants, as is common in electric trains and trolley buses

Electric vehicles generally use electric motors used to drive vehicles because they can be finely controlled, they deliver power efficiently and they are mechanically very simple. Moreover these electric motors often achieve 90% conversion efficiency over the full range of speeds and power output and can be precisely controlled. Thus it won’t be wrong to say that these electric motors can provide high torque while an electric vehicle is stopped, unlike internal combustion engines, and do not need gears to match power curves.

These days electric vehicle is designed in two ways those are Battery Electric Vehicles and Hybrid vehicles. Battery Electric Vehicles covert chemical energy to electrical energy in batteries; whereas Hybrid vehicles, which convert chemical energy to electrical energy via an internal combustion engine and a generator. However, there is another less established form of electric vehicle which is the ‘plug-in hybrid’. This ‘plug-in hybrid’ attempts to combine the benefits of both these designs and allows the moderate capacity batteries of a hybrid vehicle to be recharged not only from the internal combustion engine and generator.

Electric Vehicles include electric wheelchairs, the Segway HT, electric motorcycles and scooters, motorized bicycles, golf carts and neighborhood electric vehicles. Furthermore some working electric vehicles include heavy work equipment, fork lifts, and numerous other service and support vehicles. Thus, if you are an environment conscious then electric vehicle is best for you.