Tuesday, January 28, 2020

Report: Electric Vehicle Adoption Could Create Jobs, Spur Economic Growth

A new report, issued by Next 10, a group which advocates for improving the quality of life in California, claims that the electrification of light-duty vehicles in California would boost the state economy, in particular by avoiding fuel costs. The group said its new report, Clean Transportation: An Economic Assessment of More Inclusive Vehicle Electrification in California, found that if the state achieves electric vehicle (EV) adoption which is consistent with its climate goals, it would create half a million jobs in just 10 years, and increase the "gross state product" by more than $140 billion. A major part of that appears to be avoidance of fuel costs, with the added advantage of taking dollars that otherwise would have gone to out-of-state oil companies and instead allowing those to be spend on in-state goods and services. The study used the Berkeley Energy and Resources (BEAR) model for its study, and was conducted by UC Berkeley.