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Policies for Electrifying the Light-Duty Vehicle Fleet in the United States

Author

Listed:
  • Cassandra Cole
  • Michael Droste
  • Christopher Knittel
  • Shanjun Li
  • James H. Stock

Abstract

Decarbonization of light-duty vehicles (LDVs) in the United States is an important policy priority. We investigate the roles of the Infrastructure Investment and Jobs Act and the Inflation Reduction Act in accelerating the transition of LDVs to electric vehicles. We additionally consider alternate allocations of government funds for subsidized construction of charging stations and refundable tax credits for electric vehicles. We find that charging station subsidies are extremely effective as measured by impact for a given fiscal expenditure. All of the policies we consider have estimated costs below the most recent estimate of the social cost of carbon.

Suggested Citation

  • Cassandra Cole & Michael Droste & Christopher Knittel & Shanjun Li & James H. Stock, 2023. "Policies for Electrifying the Light-Duty Vehicle Fleet in the United States," AEA Papers and Proceedings, American Economic Association, vol. 113, pages 316-322, May.
    • Handle: RePEc:aea:apandp:v:113:y:2023:p:316-22
    DOI: 10.1257/pandp.20231063
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    Cited by:

    1. Burra, Lavan T. & Sommer, Stephan & Vance, Colin, 2024. "Policy complementarities in the promotion of electric vehicles," Energy Policy, Elsevier, vol. 192(C).
    2. John Bistline & Kimberly A. Clausing & Neil Mehrotra & James H. Stock & Catherine Wolfram, 2024. "Climate Policy Reform Options in 2025," NBER Chapters, in: Environmental and Energy Policy and the Economy, volume 6, National Bureau of Economic Research, Inc.
    3. John Bistline & Geoffrey Blanford & Maxwell Brown & Dallas Burtraw & Maya Domeshek & Jamil Farbes & Allen Fawcett & Anne Hamilton & Jesse Jenkins & Ryan Jones & Ben King & Hannah Kolus & John Larsen &, 2023. "Emissions and Energy Impacts of the Inflation Reduction Act," Papers 2307.01443, arXiv.org.

    More about this item

    JEL classification:

    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • H25 - Public Economics - - Taxation, Subsidies, and Revenue - - - Business Taxes and Subsidies
    • H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures
    • L62 - Industrial Organization - - Industry Studies: Manufacturing - - - Automobiles; Other Transportation Equipment; Related Parts and Equipment
    • L94 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Electric Utilities
    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming

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