One positive note about the latest massive bailout bill that congress is set to re-vote on Friday: buried deep are tax credits for renewable energy sources like solar, wind and geothermal. These critical tax breaks could renew the solar incentives that were set to expire for another 8 years. There was talk that if they were allowed to expire the solar industry would be devastated. If the bill passes, the solar industry should be revitalized.

Of special interest to our readers, there are specific credits for plug in electric vehicle buyers. Based on the kWh of the batteries, this tax incentive could be up to $7,500. That could be applied towards cars like the GM Volt or the Dodge EV both coming in 2010. Which should make these cars even more appealing and affordable.

The number one investor and sometimes richest man in the world is betting on the future of alternative fueled cars, and that bet is electric. His company Berkshire Hathaway, has purchased a 10% stake ($231 million) in the Chinese company BYD.

BYD is important because they recently shook up the electric car race by introducing a plug in electric car called the F6DM that will be available in China this fall, and which they claim will be exported to the US in 2010. The price of the car is expected to be only $20,000, which would undercut almost every planned plug in electric and most hybrids. They are also heavily into the development of the lithium ion batteries that are vital to all electric and hybrid vehicles

With the backing of Buffet, this adds a real sense of legitimacy to the Chinese company and their ability to deliver a real plug in electric vehicle to the US market at an affordable price.

Chrysler has released a spec sheet for the 2010 Jeep Wrangler EV plug in electric vehicle. Given the weight and aerodynamics of the Jeep, the performance and efficiency numbers are very impressive. Here is a summary:

Electrical drive system:

Power: 268 HP (200 kw)

Torque: 295 lbs-ft. (400 nM)

Performance:

0-60: 9.0 seconds

1/4 Mile: 16.5 seconds

Top Speed: 90 MPH+

Range: 400 miles total, 1st 40 miles all electric

Battery:

Type: Lithium-Ion

Energy: 27 kWh

Voltage: 370-410

Charging: Standard household 110/220 or 220/240

There has been a lot of wrangling between car companies and the EPA over how to certify mileage estimates with the new crop of electric vehicles (EVs) and extended range electric vehicles (ER-EV). The EPA is furiously working on a standard testing protocol. According to Catherine C. Milbourn of the EPA, the agency “hopes to have a final policy soon”. To be the first company to achieve the coveted 100 MPG label would be a huge achievement and GM is pressing hard to get that rating for the Volt. The automaker is promising to share onboard computer data with the EPA in hopes of helping the process along. Early reports that the GM Volt has grabbed that rating are premature, as the process continues to go back and forth. It does look promising for the Volt, with industry engineers like Michael Duoba of the Argonne National Laboratory says “A vehicle of the Volt’s design should be able to exceed 100 mpg in tests” and goes on to say “Depending on assumptions about how much gasoline is consumed after the battery needs recharging on the road, Volt could get 120 mpg to 200 mpg”.

Stay tuned for more on the first 100 MPG rating!

Taking a page out of the T. Boone Pickens plan, Toyota is announcing a mass produced version of their popular Toyota Camry to run on compress natural gas (CNG). Toyota is set to unveil the CNG Camry at the Los Angeles auto show next month. Toyota has show increased interest in CNG going forward; “We are confirming our interest in pursuing CNG within our R&D scope”, says Irv Miller of Toyota. He goes on to say “With the combination of plentiful long-term supplies in North America, improved and more efficient recovery methods, favorable pricing and clean-burn, low emissions characteristics, CNG has become a prime energy source for the future”.

Currently Honda is the only car maker to offer a CNG vehicle model with its Civic GX NGV.

In a major move to capture some of GM’s spotlight with the much hyped Volt, Chrysler announced today a whole lineup of electric and hybrid vehicles. The vehicles are set for release in 2010 and featured plug in hybrid technology with advanced lithium ion batteries. Chrysler has been developing these vehicles in relative secrecy and the project is progressing rapidly according to company executives.

The flagship of the line is the Dodge EV, a high performance sports car (think Tesla killer) with a all electric range of 150-200 miles. 0 to 60 times are less than 5 seconds. With looks reminiscent of the Dodge viper, but 0 gas onsumption, it should be a huge hit.

Possibly even more dramatic is Chrysler’s attempt to go after markets previously untapped for hybrids and electrics - families and off-roaders. They are releasing extended range electric versions of their popular minivans and Jeep 4×4s. Extended range allows for the first 40 miles to be all electric with an extended range of 400 miles on gas.

The Chrysler Town and Country Mini Van extended range electric. The minivan will retain all the standard features like popular stow and go seating.

The Jeep Wrangler EV. This extended range EV vehicle will feature 4 individual motors, 1 on each wheel which allows for more precise control of power and traction as well as energy savings.

Watch the full video of the product launch here

There has been a lot of buzz lately about BMW building a electric MINI for the US market. Some sources have it being available as soon as 2009, while others say it will be 2012. Recently CAR magazine in the UK spotted a test MINI, presumably electric.

Furthmore, the MINI electric is supposed to make its US debut at the auto show in LA next month. Based on the already cult like following of the MINI, this should be a home run for people who want an EV car but without the standard “Prius” looks.

Click here for photos from the source.

Discussion and continues to swirl that Toyota is considering making the Prius its own brand, much like the successful Lexus and Scion spin offs. With a high brand loyalty of owners and outstanding name recognition in the hybrid “green” space, this would seem to be another winning move for Toyota.

According to Toyota North American sales chief Jim Lentz, “”You could have a series of derivatives under the Prius brand name that would allow you to market product at a much lower cost. “There is a definite desire for us to do that.”

Toyota expects to sell 175,000 Prius hybrids this year, but is hoping to ramp that figure up to 1 million a year by early next decade. “”To do that effectively, I think we need dedicated hybrids and I would prefer them under the Prius name,” Lentz continued.

By having their own brand, Prius could expand the current line to offer many models including smaller sportier options as well as larger, possibly even a Prius SUV. Toyota would continue to make hybrid models of certain cars, like the Camry, so not all hybrids would fall under the Prius brand.

Tesla is set to make a big splash with its introduction of a second car to their lineup - the Model S sedan. The plug in electric model will run on lithium-ion batteries and is said to have a range of 240 miles. If its anything like the critically acclaimed Roadster, it should have plenty of power. Arriving in late 2010, the sedan is set to have a price tag of $60,000, which is significantly cheaper than the Roadster.

The 89 acre facility should employ up to 1.000 green tech workers.

Read the full press release from Tesla here

General Motors released full details of its game changing car today, the Volt.  Among the specs given are:

• Seats 4
• Range of 40 miles on electric charge, 400 miles with gas generator to charge batteries
• Top speed of 100 MPH
• Equivalent 150 HP
• Can be plugged in standard 120v/240v household outlets
• Touch screen navigation, climate control, and music controls

Official press release here