Remove Climate Remove Climate Change Remove Gasoline Remove Tax Credit
article thumbnail

Report finds says “negative emissions technologies” need to play a large role in mitigating climate change

Green Car Congress

To achieve goals for climate and economic growth, “negative emissions technologies” (NETs) that remove and sequester carbon dioxide from the air will need to play a significant role in mitigating climate change, according to a new report from the National Academies of Sciences, Engineering, and Medicine.

article thumbnail

Belfer Center Study Concludes Reducing Car and Truck GHG Emissions Will Require Substantially Higher Fuel Prices; Income Tax Credits for Advanced Alt Fuel Vehicles Are Essentially Ineffective at Reducing Sector Emissions

Green Car Congress

Direct transportation (fuel) taxes generate the greatest reductions in CO 2 emission from transportation, achieving CO 2 emissions at 86% of 2005 levels by about 2025. Purchase tax credits are an expensive way to reduce oil consumption and GHG emissions from transportation. Adoption of all of the preceding policies.

article thumbnail

State Auditor says California may not meet 2030 GHG reduction goal; says aspects of CARB efforts lacking

Green Car Congress

To help the California Air Resources Board (ARB)—the state’s key organization in this area—to fight climate change by reducing GHG emissions, the Legislature has allocated more than $2 billion from the State’s Greenhouse Gas Reduction Fund (cap?and?trade powered vehicles.

article thumbnail

California Senate President pro tem proposes carbon tax on transportation fuels

Green Car Congress

In 2020, the tax is estimated at 24¢/gallon—lower than the upward price risk under cap and trade at 40¢/gallon. In 2029, the carbon tax on gasoline would pass the upward price risk of cap and trade, Steinberg said. A carbon tax is significantly less vulnerable to gaming. A carbon tax is transparent. …

Tax 230
article thumbnail

EV Life is awarded CalSEED grant from the California Energy Commission to make financing electric cars cheaper than gas vehicles.

EV Life

This new CalSEED grant will fund the development of an EV Climate Loan platform. EV Life’s Climate Loan aims to lower the monthly cost of an EV by up to $200/month. The average California driver qualifies for over $10,000 in EV rebates and tax credits, but incentives can take 12 to 18 months to recoup post-purchase.

article thumbnail

Senators Kerry and Lieberman Release Details of Energy and Climate Bill; Incentives for Electric Drive and Natural Gas Vehicles

Green Car Congress

Chairman of the Homeland Security and Governmental Affairs Committee, released the details of their long-anticipated energy and climate change legislation on Wednesday, 12 May. Section 4122 allows state and local governmental entities to issue tax credit bonds in order to finance natural gas vehicle projects.

article thumbnail

The Advantages of Establishing EV Charging Stations in Residential Areas

Setec Powerr

This plays a pivotal role in climate change mitigation and fostering a cleaner living environment. EV owners stand to benefit from significant cost savings, enjoying lower operating and maintenance costs since electricity is generally more affordable than gasoline.