Carbon credits may help expand EV charging infrastructure - industry group
Sept 18 (Reuters) - Carbon credits could be used to cut the
high costs involved with setting up charging stations for
electric vehicles, an industry lobby said on Tuesday.
A carbon credit represents a reduction of one tonne of
carbon dioxide emissions and would be available for sale in the
United States in 2019, the Electric Vehicle Charging Carbon
Coalition (EVCCC) said.
A shortage of adequate charging infrastructure, which
requires huge investments with no immediate returns, has been
affecting the production and sale of electric vehicles.
"One of the original motivations for this project was to
compensate for the higher costs of deploying and operating EV
charging infrastructure," said Sue Hall, chief executive officer
of Climate Neutral Business Network, which has developed a
method to trade on carbon credits, along with the EVCCC.
The carbon credits can be sold by entities investing in
installation of electric vehicle chargers to firms or companies
looking to go carbon neutral, and could generate a 5-10 percent
return on capital over 10 years, the EVCCC said.
Volkswagen AG unit Electrify America, electric
vehicle charging station provider EVgo, electric power
generation company Exelon Corp and German engineering
giant Siemens AG are some of the members of the
(Reporting by Sanjana Shivdas in Bengaluru; Editing by Sriraj
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