Last Day for Electric Vehicle Incentives; Government Credits Stop at the End of the Year

Dec 31, 2013 09:42 AM EST | Jordan Ecarma (j.ecarma@autoworldnews.com)

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2013 Ford Focus electric model

Electric cars like the 2013 Ford Focus are becoming a common sight in showrooms. (Photo : Flickr)

Time is running out for government incentives put in place to encourage sales on electric vehicles.

Two government incentives for electric cars and motorcycles expire at the end of Tuesday with the start of 2014, USA TODAY reported.

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The credits have expired once before but were reinstated by Congress this past January.

The car incentive offers a 30 percent tax credit, good for as much as $1,000, to individuals for home high-speed electric car charging units, the outlet said.

Cutting recharge time in half, high-speed chargers use 220 volts instead of the customary 110. Electric cars can be charged from any wall socket, according to USA TODAY.

The second incentive, intended to spur motorcycle sales, covers 10 percent of the price of an electric motorcycle for up to $2,500.

The government's boost has been vital for the burgeoning electric vehicle market.

 "[T]hese incentives are really, really key," Jay Friedland, legislative director for advocacy group Plug In America, was quoted as saying by USA TODAY.

The initiative has been successful, according to Brian Wynne, executive director of the Electric Drive Transportation Association.

"It's a good incentive for folks," he told USA TODAY on Monday. "We worked hard to get them and get them extended."

Businesses have also received an incentive with a tax credit of up to $30,000 when they install multiple electric chargers.

High-speed chargers should be professionally installed, according to Friedland. Some garages should already be equipped with 220-volt sockets, which can be used for laundry or swimming pool filters. Those with 220-volt sockets can begin high-speed charging immediately.

Federal and state governments have pushed harder for electric vehicles this year.

Eight states, including California, New York, Connecticut, Maryland, Massachusetts, Oregon, Rhode Island and Vermont, made a pledge this year to increase the number of electric vehicles on the road to 3.3 million by 2025.

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