August 09, 2022
Categories: Climate Change , Sustainability , GHG , Uncategorized , Electric vehicle , Global Warming , Inflation Reduction Act
The Inflation Reduction Act looks to accelerate the adoption of clean vehicles by reforming the related tax credits in a number of key ways. Specifically, the bill does the following.
The Biden Administration set a target of 50% of electric vehicle sale shares in the U.S. by 2030. Currently, EV sales make up approximately 5% of new vehicles sales. These changes will help drive the adoption of zero emission vehicles in the United States. Will they be enough to push the U.S. the other 45% by 2030? Stay tuned for Foley Hoag's continuing zero emission vehicle series.