Grants For Hybrid Vehicles

This is a guest article on grants available for hybrid vehicles.

[ad#Google Adsense]While the price of petrol is increasing, hybrid car is becoming more popular as an economic and environmental friendly option. Hybrid car is powered by an electric engine so you will be able to save twice the fuel efficiency of a gasoline powered car. For this reasons, the government and manufacturers are determine to promote the use of hybrid vehicles by offering grants to buyers. You can obtain the grant for the hybrid vehicles through the federal and state governments.

Hybrid GrantsDuring the presidential campaign in 2008, President Barack Obama set a national goal to put 1 million hybrid cars on the road by 2015.  In 2009, the White House announces they will be making a $2.4 billion grants to the manufactures. Out of $2.4 billion grants, $1.5 billion grants will be used in the development of increasing the battery lifespan, $500 million will be used in the development of other car components and $400 million will be used to produce a better battery charging system. The individual grants for each hybrid manufacturer range from $500,000 to $300 million.

Under the American Recovery and Reinvestment Act of 2009, buyers of hybrid cars will receive an extension in the tax credit of $2500 and $7500. In order to be eligible for the tax credit extension, buyers must purchase a new hybrid car with four wheels, weight under 14,000 lbs and a 4 kilowatt hours battery which can be charged from an external outlet.

Farmers and small businesses can take advantage of the grants and loans for the U.S. Department of Agriculture Office of Rural Development. Businesses that apply for the loans must have projects that are based in rural areas. The project must involve the changing of diesel or gasoline powered vehicles into a hybrid vehicles.  The applicants are responsible for 75% of the project’s costs. The maximum grant for a project is $750,000.

In 2009, President Barack Obama has offer a $100 million grants to 43 transit agencies to use hybrid technology in their public transportation system. The aim of this grant is to reduce the emission of carbon dioxide and produce an economical investment returns.

The European Union had given its approval for a plan to provide France with a grant of $6 million euros in the R & D program for the hybrid vehicles. Germany plans to spend $700 million on the hybrid vehicles before the year of 2011. China aims to make at least five percent of motor vehicles to be hybrid electric vehicles before the year 2011. In 2009, Japan offers tax cut for the buyers of hybrid electric vehicles.

The Pollution Prevention Grants Program offers grants for students in colleges and university that study about pollution reduction and prevention strategies. The program is available for qualified state agencies, colleges and university. However, the grant is not offered to local governments and private organizations.

In addition, the government has offer a grant of two and a half million for the University of Michigan for education and training in hybrid electric vehicles. Kettering University was also offered a grant of two and a half million building fund for the hybrid vehicle lab.

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