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A parking lot in Rosemead, California, with two electric vehicle charging stations. Photo: Frederic J. Brown/AFP via Getty Images

The Electric Vehicle Charging Carbon Coalition (EVCCC) recently announced a new method to certify the contribution of EV charging stations to the reduction of greenhouse gases (GHG). The certification would give EV charging station investors and installers access to the voluntary carbon market, which enables buyers to purchase carbon credits to offset their own emissions.

How it works: Carbon credits were first developed by the Climate Neutral Business Network and are now certified by third-party sources. One carbon credit represents a one-ton GHG reduction. EV charging stations would be able to obtain and sell these carbon credits to willing buyers — to a business that is struggling to reach a designated emissions reduction standard, for example, and wants to buy carbon credits to offset the gap.

Compared with compliance markets, where the government decides the rules about what projects are permitted, the voluntary market follows rules set by non-governmental bodies, such as the EVCCC. The carbon credits are expected to yield a 5%–10% return on EV station investment, and sales are expected to start in the voluntary carbon market in 2019.

What to watch: New longer-range EVs are coming to market to allay drivers' range anxiety. Because these vehicles will have larger and more powerful batteries, they will in turn require larger charging systems to expedite charging times. The latest technology (350kW fast chargers) installed earlier this summer claim to charge 124 miles (200 km) of range in 8 minutes. Carbon credits can be used to offset higher costs for deployment associated with this new fast-charging technology.

Why it matters: There are currently an estimated 800,000 EVs on U.S. roads as of August 2018, with 18,000 public EV charging stations. Other than cost, the key hurdles to EV adoption are range anxiety and lack of access to charging stations. As longer-range vehicles come to market, a revenue stream from carbon credits could spur new EV charging station installations and help stimulate EV adoption.

Maggie Teliska is a technical specialist at Caldwell Intellectual Property Law, an intellectual property law firm. She is also a member of GLG, a platform connecting businesses with industry experts.

Go deeper

China's economic growth slows

A worker assembles heavy truck engines in Hangzhou in eastern China's Zhejiang Province, on Monday. Photo: Long We/Costfoto/Barcroft Media via Getty Images

China's economy grew 4.9% in the third quarter of 2021 compared with a year earlier, the country's National Bureau of Statistics announced Monday.

Why it matters: The gross domestic product growth in the July-September quarter in the world’s second-largest economy marked the "weakest pace since the third quarter of 2020 and slowing from 7.9% in the second quarter," Reuters notes.

2 hours ago - World

Former spy Steele defends controversial Trump Russia dossier

Former U.K. intelligence officer Christopher Steele arrives at the High Court in London in July 2020. Photo: Tolga Akmen/AFP via Getty Images

The author of the "Steele Dossier," containing unverified claims about former President Trump told ABC News he stands by his controversial report, according to excerpts from an upcoming documentary published Sunday.

Why it matters: Former U.K. intelligence officer Christopher Steele's dossier was used as part of former special counsel Robert Mueller's investigation into the Trump campaign's alleged links to Russia's government.

Ina Fried, author of Login
5 hours ago - Technology

Intel CEO sees making own chips as a matter of national security

Pat Gelsinger. Photo: Axios on HBO

Intel CEO Pat Gelsinger is putting the pressure on the U.S. government to help subsidize chip manufacturing, insisting the current reliance on plants in Taiwan and Korea as "geopolitically unstable."

Why it matters: There is bipartisan support for funding the domestic semiconductor industry, but Congress has yet to sign the check. The Senate has passed the CHIPS Act that includes $52 billion in semiconductor investment, but it has yet to pass the House.