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Is there a tax incentive if I buy a Chevy Volt?

Currently, no, however the House recently passed legislation that grants an incentive on cars like the Chevy Volt. It grants a $3,000 tax credit on cars with a five kilowatt-hour capacity, adding $500 per kilowatt hour until a maximum of $5,000 is reached. The Chevy Volt easily gets the highest credit thanks to its 16 kW hour battery pack. If it becomes law, the Volt's effective price would come down to a more reasonable $35,000.

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Photo Credit: General Motors

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