Washington, D.C. – The U.S. President’s goal of putting one million electric vehicles on the road by 2015 is ambitious but achievable, according to a new report by the U.S. Department of Energy (DOE). The study, One Million Electric Vehicles by 2015, shows that the plan is feasible based on steps already taken as part of the Recovery Act and additional policy initiatives proposed by Obama.
These proposals include improvements to existing consumer tax credits, programs to help cities prepare for the growing demand for electric vehicles, and strong support for research and development to continue reducing the cost of electric vehicles.
“President Obama’s goal of putting one million electric vehicles on the road by 2015 represents a key component of our strategy to dramatically reduce America’s dependence on foreign oil and ensure that the U.S. leads the world in the growing electric vehicle manufacturing industry,” said David Sandalow, DOE assistant secretary for policy and international affairs. “This is a race America can win, if we answer the President’s call to out-innovate, out-build and out-compete the rest of the world.”
The DOE’s analysis of the current market outlook indicates that manufacturers are planning to produce in the range of one million electric vehicles by 2015. While industry-wide manufacturing capacity is not likely to be the limiting factor in reaching the goal, additional policy steps are needed to further drive innovation, reduce costs and spur consumer demand, the report said.
The government is proposing a three-part strategy that includes making electric vehicles more affordable with a rebate of up to US$7,500; advancing innovative technologies through new R&D investments; and rewarding communities with competitive grants when they invest in electric vehicle infrastructure.