From The Workbench - Alternative + Renewable Energy Blog Valuable information for do-it-yourselfers interested in the latest in alternative + renewable energy

If you are anything like me, when you saw the plans for the Chevy Volt, the photos, the descriptions, everything, you were probably very excited to say the least.  Reality probably then set it, again if you’re anything like me, and you thought to yourself: “Self, I’ll never be able to afford this!” Ah ha, not so fast Self, and your Selves out there, thanks to the passing of the economic bailout plan, the Chevy Volt just dropped $7500 in price, overnight!

Here’s what went down, in non-government confusing terms:  The House just passed the $700 billion bailout plan, that led to automobile makers getting $25 billion in low-interest government loans, and on top of both of those things, plug-in tax credits have just been passed by the Senate and the House.  Add these up and you get $7500 off a new Chevy Volt.  Impressive, no?

According to reports, it’s called the Transportation and Domestic Fuel Security Provision.  “This provision provides a tax credit for buyers of plug-in electric vehicles and provides a base of $2,500 plus an additional $417 per kwh for batteries greater than 4 kwh. For the Chevy Volt, that works out to $7,500 per car.”

A note to self:  Act fast.  The provision will only apply to the first 250,000 cars sold.  After that it will be 50% for the next 2 quarters, and then 25% the two following that.  Now is the time to start investing in future tech, now is the time to start looking at alternative energy and alternate forms of transportation.  $7500 off, why not?