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Hybrid Vehicles May No Longer get Tax Credits, but the Honda FCX Now Gets a $12K Credit!

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Last month the IRS announced that the hydrogen-powered Honda FCX fuel cell vehicle was eligible for the Qualified Fuel Cell Motor Vehicle Credit program. The credit is part of the federal Energy Policy Act of 2005, which seeks to promote affordable, dependable and environmentally-sound production and distribution of energy for America’s future.

“This tax credit helps offset the higher costs associated with the early development of advanced technology vehicles that reduce CO2 emissions and dependence on oil. It is a further validation that the FCX is a real vehicle and another step towards market viability” said Stephen Ellis, Fuel Cell Vehicle Marketing Manager at American Honda Motor Co., Inc.

Fuel-Cell vehicles are seen as a viable alternative to gasoline powered vehicles and are seen as a way to reduce our dependence on oil. These vehicles are electrically powered and the electricity is generated by a fuel-cell stack that is in the vehicle. The stack combines hydrogen and oxygen in a process that produces electricity and emits water.

The Honda FCX is the only fuel cell vehicle certified by the California Air Resources Board (CARB) and the U.S. EPA. the CARB and EPA have certified the FCX as a Zero Emission Vehicle (ZEV).

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