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California has set out ambitious targets for 2020, 2025, and 2030, aiming to have a total of 1 million, 1.5 million, and 5 million PEVs on the road by each year, respectively. At the beginning of 2018, California had roughly 341,000 registered PEVs in total, a number that can be expected to reach 400,000 by the end of 2018. To accomplish its 2030 goal of replacing roughly one-fifth of the current vehicle fleet with PEVs, California will need to register 12 times the current total amount of PEVs on the road, or roughly 380,000 new vehicles annually.
Like many industries and technologies before it, the national electrical grid is receiving a much needed influx of R&D and investment in the interest of national security. The success of the DoD in the regard indicates the resilience potential of the entire national power grid if given the proper resources.
The state aims to have five million PEVs on the road by 2030, drastically lowering its carbon footprint associated with transportation. Consequently, this will help ensure targets set out in SB-100 are achieved (transportation currently accounts for 40 percent of greenhouse gas emissions in the state). In this way, the gas tax acts as a promoter of the PEV industry and the obtainment of 100 percent clean energy.
In light of a remarkable trend towards renewable energy sources, it is unsurprising that the solar industry now supports 260,000 jobs, which translates to a year-on-year percent increase of 43% since 2011. As solar installers have benefited from the lower costs of imported components and passed these savings on to their customers, the industry's job growth has largely been driven by the resulting increasing demand. This is what makes the new tariff on solar panels stunting to continued growth in US solar markets.
This year’s hurricane season has put on full display the havoc natural disasters can cause around the world. Every one of these events, from earthquakes to wildfires, have the power to bring entire regions to their knees and, in extreme cases, force devastated communities to rebuild energy infrastructure completely from scratch.
Donald Trump's decision to pull out of the Paris agreement was a good thing, for the Paris process. Two concepts from economics and econometrics, the sunk cost fallacy and the counterfactual, can help us understand this counterintuitive impact. When comparing the outcome of the decision with the appropriate counterfactual, which acknowledges that the election of a climate change denier to the most powerful political office in the world is a sunk cost, it is hard to see how the U.S. leaving the Paris process is not a good thing for the process.