Hybrid Trucks Financial Incentives Guide
If you're a fleet manager considering hybrid trucks for your firm, you're most likely wondering: What are the benefits of hybrids? How does cost compare with a conventional truck? How can my firm offset high upfront costs? What models are available now?
Benefits of hybrid trucks
- Hybrids dramatically improve fuel efficiency, offering an immediate solution for saving money and cutting pollution.
- Trucks, especially delivery trucks, are an ideal application for hybrid technology because of their frequent stops and starts: They harness braking energy to recharge the battery.
- Some types of hybrids, such as utility trucks, can draw power from the electric battery to run onboard equipment, eliminating idling and further increasing fuel savings.
- Hybrids are a proven technology that can deliver major air quality and climate benefits today. They do not require new infrastructure.
- Hybrids play an important role in a portfolio of clean vehicle solutions, whose benefits accrue over time. They are a bridge to even more advanced solutions in the future.
Tapping funding for purchasing costs
Financial incentives can help shorten the payback time for hybrid truck purchases:
- Federal funding: The United States offers tax credits based on fuel economy gains for companies purchasing hybrid truck fleets.
- State and local programs: An array of tax credits in various states and localities are available to companies with truck fleets. These programs typically require emissions reductions.
- Other programs: There are a number of existing and potential funding opportunities from groups such as the Diesel Emissions Reduction Collaborative and the Clean Cities program.
Environmental Defense Fund can help your fleet
In addition to this guide, Environmental Defense fund is pleased to offer customized incentive funding assessments for fleets that are considering hybrid truck purchases. Our assessments help fleets identify suitable incentive programs, understand program requirements and navigate the application process.