New year, new EV tax credit rules

The Biden administration’s updated rules for the electric vehicle tax credit took effect on Monday, slashing the number of the EVs that can qualify but giving consumers a chance to access the subsidy right when they purchase the vehicle. POLITICO’s James Bikales breaks down how these new regulations impact consumers, EV manufacturers, and President Joe Biden’s EV adoption efforts. Plus, the developers of three New York offshore wind projects have terminated one of its contracts with the state.    For more news on energy and the environment, subscribe to Power Switch, our free evening newsletter: https://www.politico.com/power-switch And for even deeper coverage and analysis, read our Morning Energy newsletter by subscribing to POLITICO Pro:  https://subscriber.politicopro.com/newsletter-archive/morning-energy   Catherine Morehouse is an energy reporter for POLITICO and the host of the POLITICO Energy podcast. James Bikales is the host of Morning Energy and a reporter for POLITICO.  Nirmal Mulaikal is a POLITICO audio host-producer.  Annie Rees is a senior audio producer-host at POLITICO. Gloria Gonzalez is the deputy energy editor for POLITICO.  Matt Daily is the energy editor for POLITICO.