The federal government’s partial tax subsidies for the installation of electric vehicle charging posts will be cancelled after December 31 this year.
All along, the U.S. federal government has been making great efforts to promote new energy vehicles. There is a certain subsidy for consumers who buy electric cars or install charging posts. However, despite the fact that the government’s $5,700 tax subsidy for electric car consumers may not be cancelled in recent years, the charge-reduction policy for charging station construction has reached a limit.
At present, the tax deduction for individual consumers who install electric vehicle charging posts is 30% of their expenses, and the maximum limit is $1,000. For companies, they also enjoy a 30% tax deduction for the construction of charging stations, with a maximum limit of US$30,000.
The U.S. government originally planned to cancel the tax relief at the end of last year, but last year it decided to extend it by one year, that is, by the end of this year. Although we think that if the federal government is canceled, it may no longer provide similar tax relief to consumers, but anything can happen. Because last year two weeks before the cut-off date, we decided to extend the time limit temporarily. This year may happen the same thing.
In addition, researchers from Northwestern University have recently achieved a technical breakthrough in battery production, making rechargeable batteries more powerful and faster. Compared to a typical rechargeable battery, the battery has been extended about 10 times longer and the charging speed has also been increased by nearly 10 times. According to reports, this new type of lithium-ion battery provides mobile phones with electricity for a week, and it takes only 15 minutes to complete the charging. If used in an electric car, the car is powered for 500 miles and the charging time is only 10 minutes. This new type of battery is expected to be put into production in the next three to five years.
All along, the U.S. federal government has been making great efforts to promote new energy vehicles. There is a certain subsidy for consumers who buy electric cars or install charging posts. However, despite the fact that the government’s $5,700 tax subsidy for electric car consumers may not be cancelled in recent years, the charge-reduction policy for charging station construction has reached a limit.
At present, the tax deduction for individual consumers who install electric vehicle charging posts is 30% of their expenses, and the maximum limit is $1,000. For companies, they also enjoy a 30% tax deduction for the construction of charging stations, with a maximum limit of US$30,000.
The U.S. government originally planned to cancel the tax relief at the end of last year, but last year it decided to extend it by one year, that is, by the end of this year. Although we think that if the federal government is canceled, it may no longer provide similar tax relief to consumers, but anything can happen. Because last year two weeks before the cut-off date, we decided to extend the time limit temporarily. This year may happen the same thing.
In addition, researchers from Northwestern University have recently achieved a technical breakthrough in battery production, making rechargeable batteries more powerful and faster. Compared to a typical rechargeable battery, the battery has been extended about 10 times longer and the charging speed has also been increased by nearly 10 times. According to reports, this new type of lithium-ion battery provides mobile phones with electricity for a week, and it takes only 15 minutes to complete the charging. If used in an electric car, the car is powered for 500 miles and the charging time is only 10 minutes. This new type of battery is expected to be put into production in the next three to five years.
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