Sunday, April 10, 2022

Charging EV's

I was watching a show about electric cars and I was reminded of the way they sell Obamacare. In health insurance they talk about the monthly cost but not the annual deductible. On EV's they talk about the range but not the time it takes to charge. The average EV takes 8 hours to charge and this would not work for a vacation trip. In both insurance and EV's they talk about subsidies. If you buy a $50,000 EV you can get a refundable federal tax credit of $7,500 and many states offer another $2,500 and some employers offer an additional $1,000. The catch is that to get these credits you must owe taxes. Since the lower one half of all taxpayers do not owe tax they get no credits. It is much like tax credits for solar panels on your home. It is great for upper income people but not for low and middle income earners. Of course no one mentions that for most people charging the EV uses electric power produced by burning fossil fuels. This problem is eliminated by those living near nuclear power plants. Electric cars are the future but not quite yet.

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