New research reveals how EV, emissions mandates are inflating costs for gas-powered cars, utilities
Fox News
New research is shining a light on how government subsidies, combined with a regulatory credit system, for electric vehicles (EVs) is causing automobile and utility costs to rise.
If auto manufacturers do not produce enough EVs to meet state and federal standards, they are forced to buy into a credit system to offset their emissions production, inevitably creating another avenue where additional costs are transferred to consumers, according to the report.
Utility costs also see an impact, AEI's report points out. State and federal subsidy and rebate programs for EV charging infrastructure, while beneficial for utility companies' profits, lead once more to increased costs that are subsequently passed on to rate payers. Forty states offer rebates for in-home level two chargers, while at the federal level, rebate and subsidy programs for EV charging infrastructure received an investment of roughly $7.5 billion under former President Joe Biden.
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