Ree-V, a company that converts cars to run on electricity, has been set up in Colorado to take advantage of this huge tax credit, mentioned below.
'Conversions to a lead-acid battery cost a pretty penny--between $17,500 and $200,000. And most converted cars are only suitable for quick trips around town. Ree-V's 1995 Geo Metro conversion, for example, has a top speed of 70 MPH and a range of 25-35 miles.
But Ree-V CEO Luc Nadeau notes that his Colorado-based customers can receive the Colorado Alternative Vehicle Fuel Credit, that reimburses the majority--and in some cases all--of the conversion. A car older than 10 years is eligible for a 100 percent credit, while newer cars receive an 85 percent credit. And in case that isn't attractive enough, electric vehicle drivers can slash gas completely from their budgets.'
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