California extends tax credits for plug-ins through 2024by Drew Johnson
California will continue to offer green car tax credits for the next 10 years.
California lawmakers have approved legislation that will extend tax credits offered to buyers of hybrid and electric vehicles through 2024. California Governor Jerry Brown is expected to sign off on the program in the near future.
Per the terms of the bill, California will offer buyers of electric and hybrid vehicles up to $2,500 in tax credits through 2024.
Through the end of 2012, the state of California has doled out $24.8 million to buyers of electric vehicles. Another $11.2 million has been handed out to buyers of plug-in hybrid vehicles like the Chevrolet Volt.
"Investing in electric vehicles is a smart investment for the state because it will pay for itself many times over in avoided health care and fuels costs,” Roland Hwang of the National Resources Defense Council told The Detroit News. "Electric cars are the future. By breaking our dependency on oil through electric cars will benefit the health and welfare of all Californians.”
In addition to the green car tax credit, the bills also carves out $220 million from vehicle registration fees over the next 11-years to build 100 hydrogen fueling stations across the Golden State.
California is home to the most electric vehicles in the nation. The state's Air Resources Board predicts every car sold in the state will be zero emissions by the year 2040.