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To qualify for the federal tax credit, one must not exceed the following adjusted gross income limits:
$300,000 for married couples filing jointly
$225,000 for heads of households
$150,000 for all other filers
Federal EV Tax Credit is not refundable, which means one must have federal tax due to take advantage of it. If the tax due is less than the credit amount, one can only claim the credit up to the amount of the tax due.
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Here's how cheap you can get a new Model 3 RWD right now (including fed & local EV incentives):
• VT: $26,320
• MA: $26,830
• PA: $27,330
• MD: $27,330 - Delivered after July 1, 2023 https://marylandev.org/maryland-ev-tax-credit
• RI: $27,820
• DE: $27,820
• NY: $28,320
• CA: $28,330
• CO: $28,330
• CT: $29,030
• ME: $29,320
on top of above info federal, state and local incentive info that i posted , some employers are also providing ev incentive like exaple bank of america employees gets $5k incentive , in this case the best case scenario is like below
example scenario
• VT: $26,320 - $5000 bank of america employee ev incentive = $21,320
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CA CLEAN VEHICLE REBATE PROGRAM
$2K is available if your household makes <$200k.
There is an increased rebate of $7500 ($5500 on top of the $2k) available if you fall below income caps based on your household size.
Family of 4 max is $111k, Family of 6 is $149k.
This comes in the form of a check in 2-3 months. https://cleanvehiclereb
This is separate from the CARB Clean Vehicle Grants described below the dashes. It is possible to qualify for both, but the timing is different.
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And California residents that live in a disadvantage community (DAC) https://cleanvehiclegra
Disadvantaged communities are determined using CalEnviroScreen (https://oehha.ca.gov/calenviroscr...
here's the DAC map: https://oehha.ca.gov/calenviroscreen/sb535
And receive an Approval Letter through email.
You must receive an Approval Letter BEFORE you purchase a vehicle. We do not offer rebates and you cannot redeem a grant if you have purchased a vehicle before being approved.
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Top Comments
https://www.tesla.com/model3/design
Deal is even sweeter if you live in a state with additional credits:
VT: $26,320
MA: $26,830
PA: $27,330
RI: $27,820
DE: $27,820
NY: $28,320
CA: $28,330
CO: $28,330
CT: $29,030
ME: $29,320
Full tax credit details below, but the following income limits apply:
$300,000 for married couples filing jointly
$225,000 for heads of households
$150,000 for all other filers
https://www.irs.gov/credits-deduc...3-or-after
Withholding is totally irrelevant to qualifying for the credit.
If you're unclear on this go read a 1040.
The part where you compute tax liability is lines 16 through 24.
THAT is where the $7500 EV credit comes off.
Your withholdings aren't even looked at until after that on line 25+
This is also not correct.
The Child Tax Credit is worth a maximum of $2,000 per qualifying child. Up to $1,600 is refundable for the 2023 tax year.
Refundable credits are computed AFTER non-refundable ones-- so the CTC is only "worth" $400 off your tax burden for these purposes- the $1600 left is refundable.
Thus if you had say $7900 in tax burden and one CTC and one EV credit, your tax burden would go to $0 and you'd get a full refund of the $1600 refundable part of the CTC
Source:
https://www.nerdwallet.
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8 hours of full, direct sun is 1.6kWh. A M3 can get 3.5-4 miles/kwh, so congratulations that solar panel will get you on the order of 5-6 miles (per 8 hours of full sun). BUT as you mention, that panel also has costs, adds weight (will reduce the mi/kwh slightly), and adds complexity. Also makes the roof opaque. It's up to the customer to decide if the cost/benefit is there for them. For myself, we pay probably some of the highest rates for electricity in CONUS at around $0.35/kwh, so the panel might save around 50-60 cents a day (on a GOOD day, we have winter here too so these results can't be extrapolated x 365) but let's say the upgrade is $610, that would be on the order of 3-4 years payback (probably longer honestly), assuming nothing went wrong with the panel or charging, assuming the car is basically never garaged, etc.
they can do 400w already pretty easily for 400-600 dollars.
what we are paying for is seamless integration where it looks good design wise.<= this is what we are paying for.
else let us charge vehicle via cigarette port or something at 120-150 watts interior or another interior plug that can accept 200-1500 watt charging if they make it a special plug of sorts.
payback period can be lowered depending on how greedy manufactures want to make it.
payback period for hybrid brakes alone.
3000 dollars for rav 4 hybrid vs regular and it saves you gas a bit in the city when you need to brake. rated at 27 to 41 = 14 miles per gallon in city and 3 miles gained in highways.
lets say its about 60% effective for miles.
per year on 15000 miles.
365 gallons of gas used =
vs
555 gallons used = 555-365 = 190
190 x costco gas 4.20 cheapest currently in bay area.
798 dollars saved per year.
lets just say 800 payback period toyota wants on most of their cost savings is about 3 years we can certainly work on lowering that cost to 1-2 years instead but toyota and manufacturers always upcharges.
not really due to technology shortcomings. as a result saving the planet isn't their concern its making a profit really.
Therefore solar roof is a decent idea that pays you back in about 3 years on average for expensive gas locations and if manufacturers want to be reasonable it can pay you back in 1-2 years if they choose to.
https://www.youtube.com/watch?v=usqSJ7z
This is what is necessary now.
the roof and hood can easily handle 600w of charging per hour if done right.
currently all they have is 200w meh.
They need to do better.
the issue is all they want to do is overcharge us when the technology is already there made by hackers on youtube showing off as it is.
it's been going on for years.
now they are just making it look nice.
these manufacturers are pissing me off. make it optional and also prius prime you need the highest trim level 39k vs 31k base level.
ridiculous. can they not add the feature without forcing us to pay through the nose? no? KUF them all they actually do not care one iota about the environment.
hackers like us are the ones innovating not Toyota nor even TESLA all they see is $$ right now.
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Total inventory of 2211 is roughly one day of max US factory production.
I mean, it's more than last year, when inventory was virtually 0 and you had waiting lists...but I'm not sure 1 day of inventory constitutes "piling up"
Look at the inventory for the Model 3. It's been on a clear upward trend.
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