A Pale Shade of Green
Electric Vehicles and the Climate
This video is part of our Kite & Key Shorts series — easy to understand ... but hard to forget.
Uncle Sam wants you to go green.
So much so, he’ll pay you to drive an electric car.
For every electric vehicle purchased, the federal government offers up to $7,500 in tax credits.i
Why? To help make electric vehicles more affordable and to protect the environment.
(That’s the idea, anyway.)
But who gets these subsidies?
In reality, nearly 80% go to people making more than $100,000 per year.ii
But maybe it’s worth it if it helps the environment?
The International Energy Agency says that even if all countries meet their electric car goals, putting 140 million electric vehicles on the road by 2030 will only reduce carbon emissions by 0.4%.iii
Even the head of the IEA said, “If you think you can save the climate with electric cars, then you are completely wrong.”iv
Electric vehicles are innovative, but they’re nearly irrelevant to dealing with climate change.
WHAT YOU NEED TO KNOW:
- Nearly 80% of electric vehicle subsidies go to people making more than $100,000 per year.
- The global goals for electric vehicle adoption would only reduce carbon emissions by 0.4%.
- The head of the International Energy Agency says electric vehicles won’t save the climate.
- "Federal Tax Credits for New All-Electric and Plug-in Hybrid Vehicles" — U.S. Department of Energy
- "The Plug-In Electric Vehicle Tax Credit" — Congressional Research Service
- "Global EV Outlook 2020" — International Energy Agency
- "IEA Chief Fatih Birol: Electric Cars Will Not Save the Climate" — Nettavisen
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CITED SOURCES AND NEWS OUTLETS ARE NOT AFFILIATED WITH THIS PRODUCTION.
- U.S. Department of Energy
"Federal Tax Credits for New All-Electric and Plug-in Hybrid Vehicles”
- Congressional Research Service
“U.S. Cities Are Home to 62.7 Percent of the U.S. Population, but Comprise Just 3.5 Percent of Land Area”
- International Energy Agency
“Global EV Outlook 2020”
“IEA Chief Fatih Birol: Electric Cars Will Not Save the Climate”