Alternative Motor Vehicles

2007-10-18 -- From futuristic solar vehicles to a petrol/electric hybrid and an ethanol production car, four of this year’s innovative entrants in the Panasonic World Solar Challenge (WSC) will be supported by General Motors on their journey through the heart of Australia.

University of Michigan’s solar car Continuum

The WSC is an energy efficiency challenge running over 3,021 kilometres through central Australia from Darwin to Adelaide. The event runs from 21-28 October 2007 and is designed to showcase research and development in solar energy and other potential fuel sources for future transport needs.

Hybrid Cars and Alternative Motor Vehicles Tax Credit

Last updated Sept. 6, 2007
Vehicles Purchased or Placed in Service

The Energy Policy Act of 2005 replaced the clean-fuel burning deduction with a tax credit. A tax credit is subtracted directly from the total amount of federal tax owed, thus reducing or even eliminating the taxpayer’s tax obligation. The tax credit for hybrid vehicles applies to vehicles purchased or placed in service on or after January 1, 2006.

The credit is only available to the original purchaser of a new, qualifying vehicle. If a qualifying vehicle is leased to a consumer, the leasing company may claim the credit.