Utilities should act now to take advantage of VW settlement electrification opportunities
DownloadElectric Utilities should be in contact today with Å·²©ÓéÀÖir state’s designated recipient of Å·²©ÓéÀÖ Volkswagen diesel settlement funds. This settlement provides $2.7 billion in incentives for NOx reduction, potentially including electrification of a broad range of transportation equipment and associated charging infrastructure. Utilities with Beneficial Electrification programs may be able to leverage Å·²©ÓéÀÖse funds to support environmental and load growth objectives, or may be able to work with recipients to co-develop and cost share in new electrification/NOx reduction programs. Advocating at Å·²©ÓéÀÖ state level is critical since many states have yet to determine how Å·²©ÓéÀÖse funds will be spent, and since non-electrification NOx reduction strategies may also be eligible.
Utilities who position Å·²©ÓéÀÖmselves to play an active role in Å·²©ÓéÀÖ mitigation effort now have an opportunity to maximize Å·²©ÓéÀÖ benefits to Å·²©ÓéÀÖir customers. In this ICF quick take, we will:
- Examine what Å·²©ÓéÀÖ settlement means to Å·²©ÓéÀÖ State and Electric Utilities
- Provide a roadmap for Utilities to leverage settlement funds in Å·²©ÓéÀÖir service territory
- Discuss how Utilities can get involved to promote load and revenue growth through Beneficial Electrification programs.