Sounds Like the EV Tax Credit Is Staying!

[Glamisduner]

Electric vehicle tax credit is reportedly safe in final US tax bill
Republicans in House and Senate strike a deal on tax bill

I was supposed to be buying a bolt and dropping my reservation.

Just told chevy I didn't want it!

I don't plan on getting the whole credit, but at least I should get something now if I get my M3 second quarter anyways.

If you have a better link please share it but it sounds like it stays for now!

 

[DarthPierce]

If it's safe and you're 2nd quarter you get the full credit. Q3 is where the question of full vs half comes into play.

 

[Glamisduner]

If it's safe and you're 2nd quarter you get the full credit. Q3 is where the question of full vs half comes into play.

Depends what I build but currently I am April/June for first production and "mid 2018" for standard + premium package.

If those numbers are right it's "only" about $6750 more for the First production assuming mid 2018 will be later than sooner and may push me into Q3. Since I would get more of the tax credit. In either case at least I get something ig uess. What pushed me towards the bolt was in fact the EV tax credit going away. I'm just a software developer and don't have the giant income or combined income many people here do so the tax credit was important to me.

Honestly the bolt is a pretty cool car though. I liked the rear view mirror, the stereo and AC controls (physical buttons), the better range than the base Model 3, and it has more driver assistance than the model 3 (unless I fork out an additional 5k which right now I think I'm going to skip).

And I keep hearing touchscreen is better because they allow for automation, but I know for a fact that it would be possible to have both. My Ford Focus has both!

 

[KL670]

Electric vehicle tax credit is reportedly safe in final US tax bill

 

[PoitNarf]

Sounds Like the EV Tax Credit Is Staying!

 

[Runt8]

Every story about the tax credit staying in the final bill seems to be based on the Bloomberg story. Hopefully it’s true but I wouldn’t make any final decisions yet until there’s a more definite confirmation.

 

[kbM3]

Honestly the bolt is a pretty cool car though. I liked the rear view mirror, the stereo and AC controls (physical buttons), the better range than the base Model 3, and it has more driver assistance than the model 3 (unless I fork out an additional 5k which right now I think I'm going to skip).

And I keep hearing touchscreen is better because they allow for automation, but I know for a fact that it would be possible to have both. My Ford Focus has both!

I doubt the Bolt would have much better (if any) range advantage at realistic highway speeds where it really counts. Also, as you probably know, DC fast charging is extra and only 53 kW if you do get it. I would also worry about resale as it is priced much higher than ICE equivalents.

 

[run-the-joules]

Financially-intelligent part of me: "Yay!"
Emotional and impatient part who really liked the idea of tens of thousands of people cancelling or waiting for their ideal config: "Damn!"

 

[geometro]

While I hope this is true, I’m not counting on anything until it’s final. Journalists get itchy fingers when it comes to publishing.

 

[astrorob]

i own a bolt - the rear view mirror thing is really neat, but since i am an aging person i do have presbyopia. it's hard to see what's on the rear-view mirror display since the image is just inches from my face and requires near vision to see. the image in a mirror is obviously much farther away. as a result i pretty much never use the rear-view mirror display.

for my part i've never needed the DC quick charger on the bolt - i thought it was a necessity having previously owned a 2011 leaf - but the 60kwh battery pretty much lasts us 7 days, so we charge just one night a week. i think if we drove the car long distances we might think it was important.

the touchscreen is a little weird - part of the environmental controls are physical buttons and part are on the touchscreen (the off buttons, the seat heaters.) in the last 10 months the touchscreen has crashed a couple of times, including once where it was out to lunch for several minutes.

perhaps there are firmware updates for the car - we have not yet had it in for it's 7500mi service.

anyway i hit this thread because i just read elsewhere that the EV credit was gone in the new tax bill... let's hope not!

 

[PoitNarf]

anyway i hit this thread because i just read elsewhere that the EV credit was gone in the new tax bill... let's hope not!

Link please to the article you read that in?

 

[PoitNarf]

Forbes is also reporting that the EV credit is safe in the final bill: Congress Saves $7,500 EV Tax Credit Following Full-Court Pressure

We still need to see the actual bill for confirmation of course. In my quick searching I could not find any articles claiming the credit is not in the final bill.

 

[Glamisduner]

While I hope this is true, I’m not counting on anything until it’s final. Journalists get itchy fingers when it comes to publishing.

Yep but, with this news I decided not to buy an overpriced bolt just to get the credit. OTD price was 43,466 after employee pricing plus a $700 Costco card and that was the best I could do. Not cheap for sure. I mean I was literally going to take delivery on Wednesday (it was not in the dealers inventory yet or i would have bought it..) I have been losing sleep over the whole deal as I need to secure a replacement for my lemon car but didn't want to lose my place in line for the 3. I knew I wanted a Tesla model 3 but felt the responsible thing was to go ahead and get a loaded bolt due to circumstances. It's a more practical car for commuting and hauling things (Homebrew kegs, propane tanks, co2 and nitrogen tanks, carboys gas cans coolers etc which are typical things I toss in my current hatchback.), but still it was not what I had dreamed of. They are harder to find than a Tesla forum person might think. I had to drive for 3 hours to find what I wanted, and when I got to the dealership it was sold! luckily they had another one in another color not in the system yet. Still felt a bit like bait and switch though.

Now that things are getting serious though, and living in San Diego. I find myself second guessing the whole ev thing a bit. Seems like it will be cheaper to buy gas than pay for charging and I even have a semi large solar system installed. I guess you have to pay a bit more to fuel a clean car here than a diesel or gas ice...

I know the power company has a special plan to bring off peak charging down to 21 cents per kwh but that means I'll be paying 53 cents per kw to run my ac in the summer when it's 105 out more outside...

No wonder there are so many Prius on the road!

Still this is great news and I look forward to getting a model 3 once again!

 

[Electric700]

Electric vehicle tax credit is reportedly safe in final US tax bill
Republicans in House and Senate strike a deal on tax bill
...

Excellent news, thanks!

 

[ggumz]

It's official! EV Tax Credit survived!!

https://jalopnik.com/the-electric-vehicle-credit-officially-survives-the-new-1821342349

Edited to add link to final bill: http://docs.house.gov/billsthisweek/20171218/CRPT-115HRPT-466.pdf

 

[azred]

Forbes is also reporting that the EV credit is safe in the final bill: Congress Saves $7,500 EV Tax Credit Following Full-Court Pressure

We still need to see the actual bill for confirmation of course. In my quick searching I could not find any articles claiming the credit is not in the final bill.

Forbes online articles are subject to about the same editorial standards as Seeking Alpha. However, now that the final 1097 page bill is online, you can read it yourself or trust the many news outlets that are also reporting the good news as of the past hour. They must be speed readers though, as I seriously doubt there is a searchable copy yet.

Of course, until the bill is passed and signed into law, I wouldn’t assume anything. But I do feel comfortable enough to start planning how to gather the cash for my car that supposedly is in the Nov 17-Jan18 timeframe. Without the credit I’d wait for a different configuration.

 

[bruinjacket]

You guys like reading a wall of text? Here it is (scroll down to conference agreement)! Source: Conference Report to Accompany H.R. 1—Tax Cuts and Jobs Act | House Committee on Rules

Repeal of credit for plug-in electric drive motor vehicles (sec. 1102(c) of the House bill and sec. 30D of the Code)

Present Law

A credit is available for new four-wheeled vehicles (excluding low speed vehicles and vehicles weighing 14,000 pounds or more) propelled by a battery with at least 4 kilowatt-hours of electricity that can be charged from an external source.80 The base credit is $2,500 plus $417 for each kilowatt-hour of additional battery capacity in excess of 4 kilowatt-hours (for a maximum credit of $7,500). Qualified vehicles are subject to a 200,000 vehicle-per- manufacturer limitation. Once the limitation has been reached the credit is phased down over four calendar quarters.

House Bill

The provision repeals the credit for plug-in electric drive motor vehicles.

Effective date.−The provision is effective for vehicles placed in service in taxable years beginning after December 31, 2017.

Senate Amendment

No provision.

Conference Agreement

The conference agreement does not include the House bill provision.

 

[Iluvpcs]

I know the power company has a special plan to bring off peak charging down to 21 cents per kwh but that means I'll be paying 53 cents per kw to run my ac in the summer when it's 105 out more outside...

Wow 53 cents a KW??? I’d be in line for a power wall or two as their run rate is roughly 20 cents per KW when you factor in upfront costs/life of unit to “transfer” power from night to daytime rates.

 

[Jason S]

Very cool, thanks for the info. @bruinjacket - special thanks for the specific section quotes.

 

[caltechkid]

Financially-intelligent part of me: "Yay!"
Emotional and impatient part who really liked the idea of tens of thousands of people cancelling or waiting for their ideal config: "Damn!"

Except that the cancellations wouldn't have been good for Tesla stock and long term viability =)