Incentives for Converting Your Car to Electric
- A variety of reasons exist for converting your gas-powered car to electrical power, ranging from a general desire to reduce pollution to the much-more-tangible impact on your personal finances. However, keep in mind that electric-powered cars simply do not go as fast as gas-powered cars. Thus, if you convert your car to electric power, do not drive your car on the freeway.
- While electricity generation certainly does produce pollution, powering your car on electricity does not add to the net pollution in your community the way that using gas does. Instead, you are using already-generated energy rather than generating new energy from gas, which comes with its own new waste.
If you are concerned about the environment and do not want to contribute as much to its detriment, this sentiment alone provides a good incentive for changing your car to electric power. - Electric-powered cars cost less to operate both in terms of fuel and maintenance. Combustion engines have more moving parts and more potential for breakdown than electrical engines. Using an electrical car helps you to reduce these ongoing costs.
Moreover, electricity is cheaper than gasoline---between 1 and 3 cents per mile, depending on your power costs. Gasoline, on the other hand, can cost 10 cents a mile---if you're driving an efficient car that gets 30 miles to the gallon. Driving most gas-powered cars will cost even more. - Finally, the American Economic Recovery and Reinvestment Act of 2009 grants electric car owners a tax credit of up to $2,500 as of 2010. Unlike a deduction, this credit creates an actual reduction of your final tax obligation by $2,500, rather than a reduction in your taxable income by $2,500, meaning you can save a substantial amount through this manner alone.
Reducing Pollution
Operating Costs
Tax Breaks
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