How to Use Government Incentives to Make a Positive Impact on the Environment
March 11, 2020
All over, companies are taking steps towards a cleaner future to maintain social responsibility. But, there’s something that’s driving some of those companies to take the leap, and that’s government incentives.
Alternative fuel adoption can get costly, but the government has stepped in to help. As you can see from the various headlines below, governments are pairing policy with incentives to shift demand from refined products to alternative fuel and, in some cases, banning the use of refined products altogether.
And stateside, we see it too. Both from a federal and regional standpoint, policy and government incentives are being used to accelerate clean fuel adoption. This isn’t implied that across the nation there’s a dramatic movement to alternative fuel – but regionally, initiatives are coming together. Check it out below.
California, which is where we’ve seen most of the alternative fuel adoption take place, has appropriated $533M from their cap-and-trade program to continually drive demand for clean vehicle technologies. The creation of the Low Carbon Fuel Standard (LCFS) further incentivizes energy developers and fleets to continue investments in alternative fuels for their region.
Bottom line, the government has the power to expedite adoption of alternative fuel and vehicle technologies through policy and funding. Check out our interactive map to see if grants or government incentives are available in your area.
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