Chevrolet Volt Rebates

The Chevrolet Volt was unveiled at the 2007 Detroit North American International Auto Show (NAIAS) and launched mid-November 2010.c The Volt is the first production plug-in hybrid-electric vehicle (PHEV) that can be plugged into a household outlet. The PHEV is a step up in hybrid technology from the conventional hybrid-electric vehicle (HEV), which recharges when idling.c

Chevrolet Volt Rebates

Ed Whitacre, CEO and chairman of General Motors (GM), offered the first 4,400 Volt buyers options to receive installed in-home charging stations, which were be covered by the Department of Energy (DOE) as part of the American Recovery and Investment Act (ARRA). In exchange, the DOE was allowed access to monitor the charging stations to determine use patterns.c

The first 500,000 Volt buyers qualified for a government tax credit of $7,500.

Mileage-Cost Estimates

At a rate of 10 cents per kWh, a Volt owner can expect to pay two cents per mile. To comapre similar cost savings, the cost per gallon of gas would have to be 60 cents.c

Tax Credit

On February 17, 2009, President Obama signed into law the Economic Recovery and Reinvestment Act (ERRA). Included in the act is a provision that provides tax credits to the first 200,000 buyers of hybrid-electric vehicles (HEVs) per manufacturer.

The credits start at $2,500 and increase by $417 for every kilowatt hour of battery capacity in excess of four kwh. For most passenger vehicles, weighing 10,000 pounds or less, the credit tops out at $7,500.

The Volt is rated at 16kWh, which equates to $7,500: $2,500 + $5,000 ($417 x 12 excess kwh = $5,004).

The most recent estimate places the MSRP of the Volt at $40,000, with the $7,500 federal tax rebate available after that price.c c

Chevrolet Volt Rebates