Federal law and various federal agency policies concerning electric cars have begun to transform America's economic, manufacturing and environmental landscapes. Not since the late 1970s and early 1980s when the first federal fuel-economy standards were mandated has the nation seen such an acceleration of "the largest government-mandated transformation of vehicles on the American road," according to the Chicago Tribune.
Energy Independence Improvement
Congress passed the Energy Independence and Security Act in 2007 as a means to reduce the nation's dependence on foreign oil. The law has dual goals of increasing the supply of renewable alternative fuel sources and providing "grant programs to encourage the development of cellulosic biofuels and plug-in hybrid electric vehicles and other emerging electric technologies," according to the U.S. Department of Energy.
Car Buyer Incentives:
The American Recovery and Reinvestment Act of 2009 offered American car buyers incentive and credits to increase the purchase of electric plug-in and hybrid automobiles. If you have a qualified plug-in electric vehicle purchased between December 31, 2009 and December 31, 2011, you can receive a credit ranging from $2,500 to $7,500. You can even receive a federal tax credit of $4,000 for a hybrid conversion of your vehicle, according to the Union of Concerned Scientists' website.
Electric Car and Parts Development
American automobile manufacturers can take advantage of the American Recovery and Reinvestment Act of 2009 by utilizing the $2 billion in grants earmarked for development of electric-vehicle components and advanced battery systems. "These funds are intended to support domestic manufacturing of advanced lithium-ion batteries and hybrid-electric systems and components, according to the U.S. Department of Energy website.
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