In his study, Winegarden examines what local, state, and federal governments are spending on subsidies for electric car purchases and manufacturing, and the installation of charging stations.
According to his research, 79 percent of electric vehicle plug-in tax credits were claimed by households with adjusted gross incomes of greater than $100,000 per year. Households with incomes greater than $50,000 per year claimed 99 percent of the credits.
He found that federal manufacturing grants and loans have a worth of $40.7 billion over the lifetime of the programs, while also offering consumers $2 billion in federal tax credits to subsidize electric car purchases, up to $7,500 per car.
State tax credits and subsidies vary but can add up to $13,000 or more per consumer in states like California, when combined with all available local and federal credits. Some states offer other benefits for driving an electric car, such as being able to drive alone in carpool lanes.
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