Tax credit for electric cars a waste

Houston Chronicle:
Tax credits for electric vehicles will cost the federal government nearly $2 billion through 2019. But the subsidy doesn't make EVs cost-competitive and will have little immediate effect on the nation's emissions, according to a report by theCongressional Budget Office.

Even with a tax credit and the lower fuel costs, electric vehicles cost their owners more over the vehicles' lifetimes compared with non-plug-in hybrids and conventional internal combustion engine vehicles, the report said.

The federal tax credit offers buyers as much as $7,500 per vehicle.

A plug-in hybrid with a battery capacity of 16 kilowatt-hours needs a $12,000 credit to be cost- competitive at today's vehicle and fuel prices, according to the budget office. The cost disadvantage rises with the size of the battery capacity.
... 
I think that still understates the cost, because of the expense of battery replacements which would probably require a new loan for most people they are so expensive.  When you ad on top of that the limited range and the long recharging time, and there is just no reason to buy the things.

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