President-elect Joe Biden said that transition to green energy is not easy during the presidential debate, but it’s a journey many countries have to go. In New York City, there is a larger build-up of greenhouse gases from the big transport industry. In America, another source of greenhouse gas comes from power production. For the country to decrease greenhouse emissions, there is a need to shift electricity production from fossil fuels to renewable energy and switch from conventional vehicles to electric vehicles.
According to Neal E. Boudette’s report, the market alone cannot give the changes needed, but it can help deliver decarbonization’s essential elements. For example, Tesla and General Motors (GM) have proved there is a better market for EVs.
General Motors plans to catch up with Tesla and budgets to use $27 billion to produce electric cars and trucks by 2025. The additional funds for this investment came from the higher sales of gas-guzzling SUVs. GM has a big plan of introducing 30 EV models in the next few years. The company is expecting to sell Cadillacs, SUVs, Hammers, and pickup trucks. The GM EVs are expected to have batteries with a range of 450 miles, which is expected to increase with technological advancement.
Ford also wants to enter the EVs market. The carmaker said it would spend $11.5 billion to produce electric vehicles in the next five years. More charging stations need to be built in parking lots, garages, and driveways since they are the most logical places. Smartphones and credit cards could be used to pay the charging costs. Tesla has built a supercharger network in 2000 locations and over 20000 chargers. The company claim that the charging cost is lower than a gasoline fill-up. Tesla’s charging network cannot satisfy the mass market. The governments need to give subsidies to help private companies build charging stations.
Furthermore, there is a high need for the American consumer to be convinced and understand that EVs are more advantageous than conventional vehicles. There before, electric vehicles were more expensive, but the purchase cost is expected to decrease. EVs have less operational costs since they have fewer moving parts. California to get rid of conventional vehicles by 2035 following the goals it adopted.
Decarbonization policy should help to speed up the transition to green energy. Therefore, fossil fuel companies are supposed to redefine themselves, and the government should fund them to invest in renewable energy. The federal government should also invest in charging infrastructure, mass transportation, and decarbonization research.