English author H.G. Wells once said, “Every time I see an adult on a bicycle, I no longer despair for the future of the human race.” What might he have said about electric bikes?
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Unprecedented demand, supply chain problems and skyrocketing prices are driving up consumer costs in the electric vehicle (EV) market. While more drivers are buying EVs, they are paying more, meaning those with low to moderate incomes face higher financial barriers.
This paper, published by the 35th International Electric Vehicle Symposium (EVS35), aims to inform incentive design by increasing understanding of who was, and who was not, influenced to adopt an electric vehicle by the U.S. federal EV tax credit.
Analysis of 6,391 recipients of California’s EV rebates found that the influence of the federal EV tax credit:
Federal and state governments are about to put billions of dollars to work electrifying Americans’ heating and cooling systems, water heaters and personal vehicles and ensuring those technologies run on clean energy.
Billions in federal tax credits and incentives are about to be invested to advance the adoption of technologies like electric vehicles (EVs), rooftop solar, electric heat pumps and more.
That’s the good news.