Part One: We must electrify everything! How do we make a meaningful impact on climate change while promoting economic security?
According to the Environmental Protection Agency (EPA), transportation currently accounts for 28% of all greenhouse gas emissions. Electricity is the only scalable fuel alternative to gasoline as the existing grid infrastructure offers ample fueling opportunities. By electrifying transportation, we can curb climate change, reduce household expenditures, increase disposable income and promote renewable electricity generation sources like solar and wind.
When I drive my Chevy Volt on pure electricity or my niece's Nissan Leaf my cost to drive a mile drops from $0.12 with gasoline to $0.03 cents for retail electricity which increases my disposable income. According to Bankrate.com, “…consumer spending accounts for 70 percent of all economic activity [and] it's the biggest chunk of gross domestic product…” The cost savings by switching to an electric, at scale, will boost economic activity.
With this 75% reduction in cost, what is holding back consumers from buying more electric cars? We often heard range anxiety, the fear that the driver will not be able to reach a charging station before s/he runs out of battery power, is the leading factor slowing electric car purchases. That is about to change. Thousands of battery companies are working with a wide array of energy storage technologies that will drastically extend an electric vehicle’s range. Tesla, with its 300+ mile/charge Model S, is an example of such a company. While oil companies will fight as their billions of dollars of profit are on the line, the all-powerful consumer will vote with his/her wallet and make the shift to electric.
While electrifying transportation is much cheaper for the driver, electricity produced from coal and natural gas power plants contribute almost 32% of carbon emissions according to the EPA. That is about to change as well. Companies like Clean Footprint are cleaning up the grid in a surprisingly short amount of time. The shift from coal and natural gas to distributed solar and wind will result in a 50% to 60% reduction in greenhouse gases in the not-so-distant future. Similar to making the switch to an electric vehicle, distributed solar also offers commercial property owners immediate cost savings with no money down by using third party financing.
In conclusion, transportation is a key stone in electrifying everything. The batteries needed for mass adoption will reduce energy storage costs for not only cars, buses, and light trucks but also for utility, commercial, and residential applications. This will open the door to 24/7 solar and wind energy and create a cleaner planet for all of us to enjoy. Buy electric!
As a businessman, past President of the Chamber of Commerce and Former Mayor of the City of Cape Canaveral, John Porter, CEO of Clean Footprint, has relationships with and direct access to the CEO’s of local corporations and County political leaders. He is the founder and owner of Porter World Trade and has extensive experience in product development as well as sourcing products worldwide specifically from China.