BAY SHORE - Long Island residents in the market for a new car now have an extra incentive to go green and buy an electric car.

The federal government is offering a $7,500 rebate for electric cars such as the Chevy Volt, which features a new lithium-ion battery pack and a small gasoline engine to charge the battery.

Many residents who own the Volt say it's worth the more than $40,000 sticker price, especially with the money they've saved at the pump. However, some critics are arguing that the rebate is a waste of taxpayer dollars since the cars are already in high demand.