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Cap And Trade

New Bill Supports Plug-In Electric Vehicles

By Jeff Siegel
Monday, May 18th, 2009

Last week, the House Select Committee on Energy Independence and Global Warming, introduced the American Clean Energy and Security Act (H.R. 2454).

While most are familiar with this bill because of its cap-and-trade program, H.R. 2454 is also structured to offer a significant amount of support for plug-in electric vehicles.

The bill is actually broken down into four titles:

Title I: Clean Energy

Title II: Energy Efficiency

Title III: Reducing Global Warming Pollution

Title IV: Transitioning to a Clean Energy Economy

Under Title I, the bill directs the Secretary of Energy to develop a program which would integrate plug-in vehicles into the grid. It also creates a program that would provide financial assistance for automakers manufacturing plug-in electric vehicles, and enables the Department of Energy (DOE) to provide financial assistance to those in regional deployment areas to purchase new plug-in vehicles. The DOE would also fund projects for the deployment of electrical charging infrastructure, which includes fast-charging infrastructure, battery exchanges, and services for street parking, parking garages and lots, homes, gas stations and highway rest stops.

Interestingly enough - while we begin to see this bill develop - researchers in the UK just announced the development of a new rechargeable lithium-air battery that could potentially be used for plug-in electric vehicles...and deliver a ten-fold increase in energy capacity compared to what's currently possible with lithium-ion cells.

This research project launched last July, and is scheduled to run until June, 2011.

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Jeff

 


Editor's Note: From solar and wind to geothermal and biofuels, Green Chip readers want to know which renewable energy resource will take over where fossil fuels leave off. The answer is...all of the above!

There is no one single solution to today's energy crisis. However, the combination of all viable renewable energy resources, coupled with energy efficiency, conservation and smart grid development will not only lead us to energy independence and a cleaner, more sustainable energy infrastructure — but also to what will soon prove to be the greatest investment opportunity of the 21st Century.







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