With the collapse of the TCI scam, blue states desperate to virtue signal on this issue are scrambling to find ways to look #woke to the green meanies in the climate cult community. Rhode Island has picked a champion.
Under the initiative set to be rolled out this summer, residents who buy new Nissan Leafs, Chevrolet Bolts and the like at Rhode Island dealerships will be eligible for a rebate of $2,500. Those who purchase used cars will get a rebate of $1,500. And for people who meet low-income guidelines, an additional payment of $2,000 will be available.
For some buyers, the state money could save about a fifth of the cost of an electric car. A $7,500 federal tax credit would lower the price even more. While electric vehicles are more expensive upfront, studies have determined them to be cheaper in the long run, through savings on fuel and maintenance.
So, the plan is to make taxpayers pay up to 9,000.00 dollars each so someone can virtue signal, and EVs are not even green (unless you mean the money).
This is a colossal waste of resources for a product whose gross emissions cost from raw materials to end of life is not less than a regular automobile.
If you were eligible for all 9K and chose a Nissan Leave (SRP 39, 900.00), you’d still be on the hook for 30K.
The Chevy Bolt is no cheaper though I did see prices as low as 32K for 2022, but you still need the charging station (Chevy gives you a charging cord). Those are not cheap, and you’ll need 8 hours for a full charge.
Level 3 charging costs all that much more to buy and install (and add that carbon footprint before asking how your electricity is generated).
And these are the prices of the low-end tiny little sh!t boxes in the EV universe. Impractical for almost everything but getting back and forth to work so you can pay your outrageous electric bill (assuming work is not too far away).
This gets me to my point. The majority of EVs purchased to date in America are bought by people who can afford them. In other words, most buyers are top-income earners.
They could afford to buy the EV without the kickbacks.
PEV buyers tend to follow the general trend of new car buyers. The dominant age group for PEV buyers across the board is 25-54 years old. .. The most dominant annual household income bracket amongst PEV buyers is “greater than $100,000.”
In California, EVs are bought primarily by people earning $150,000.00 a year or more. That’s the top 8% of wage earners in the US.
Taxpayer bailouts and handouts for EVs have been around for years, and will the numbers have improved, 60% of all-electric vehicles end up in the driveways of the top 15% of wage earners.
Rhode Islands’ transportation initiative idea is to give handouts to people who don’t need them. And why not? The 2016 version of this spent over half a million to help 250 people by an electric car.
So it’s a used plan, not a new one, which reminds me. With few exceptions, never buy a used electric car. If the battery has aged even a few years (or aged poorly), you could be on the hook for a replacement. That could cost you 10-20,000.00 dollars, depending on the vehicle.
You used to be able to buy a used combustion engine car that was two years old for less than the battery replacement. Not that you’ll be able to drive it in RI all that long from now unless they stop electing Democrats.
There won’t be anything but electric cars, and even the top 15% will be complaining about how much it costs to charge them, not that we’ll have the capacity in the New England grid or anywhere else for all of that.
Great plan.
