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Subsidies for Electric Vehicles Favor the Wealthy

Author(s): Wayne Winegarden, Ph.D
Senior Fellow, Business and Economics
Pacific Research Institute
Date: March 12, 2018 at 11:00 AM

Electric vehicles are heavily subsidized by the federal, state, and local governments. Based on a study I just completed, the federal subsidies are worth over $42.7 billion to their recipients over the lifetime of the programs. They include the federal grant and loan programs for manufacturers, and the consumer tax credits worth $7,500 per consumer. State and local governments also provide tax credits to purchase electric vehicles (up to $7,500 per consumer), subsidize investments in charging stations, and even offer perks such as access to HOV lanes, access to free vehicle charging, and free meter parking (in Hawaii). Then there… [more]

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