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The best (and worst) states to buy an electric car

by SuperiorInvest

This week Current weatherwhich every Saturday brings you the latest news about the business of sustainability. Sign up to receive it in your inbox every week.

METERmore than 800,000 electric cars were strong in the United States in 2022, almost double those sold in 2021. This year looks to be another record, with more than 300,000 electric vehicles sold in the third quarter alone. Although they are still expensive compared to gasoline-powered cars, the gap is narrowing: the average electric car costs $53,469, or about $5,000 more than a gasoline-powered car. But when combined with a $7,500 tax credit from the Inflation Reduction Law and significantly reduced maintenance costs over the life of the vehicle, an electric vehicle can be a bargain.

The state you live in can also make a difference. Several states offer their own incentives such as tax refunds and credits for the purchase of an electric car, and most can be accumulated in addition to the federal tax credit. Other states are less financially friendly to electric car owners: More than 30 charge extra annual quota for them (to make up for the loss of gasoline taxes), some of which are significantly higher than their gasoline-powered counterparts.

So what are the best (and worst) states to buy an electric vehicle? Verify Forbes full analysis here.

The great read

Cardiovascular deaths related to extreme heat will double by mid-century at current emissions rates, study says

A new study found that if stricter laws are not passed to regulate greenhouse gas emissions, cardiovascular deaths related to extreme heat will double by mid-century, putting black and older Americans, who already They are susceptible.

Read more here.

Sustainability deals of the week

Batteries for electric vehicles: Environmentalists have criticized Toyota for moving too slowly in electrifying its lineup, but the world’s largest automaker is investing big resources in a battery plant under construction in North Carolina: an additional $8 billion for the factory to manufacture packages for both electric and plug-in vehicles. in hybrids. Total investment in the facility increased to nearly $14 billion.

Hydroelectric power: Gamuda, a Malaysian infrastructure company co-founded by tycoon Lin Yun Ling, said on Monday it has taken the lead in building a 187.5-megawatt hydropower plant in Sabah, Malaysia.

Green chemicals: Houston-based Solugen, which converts corn waste into industrial chemicals through a biologically driven process, announced it will partner with agricultural giant ADM to build a new biomanufacturing facility next to ADM’s “corn complex” in Minnesota.

Dangerous residues: Environmental services provider Veolia North America announced it has completed its acquisition of waste management company US Industrial Technologies. Veolia claims that this will allow it to expand its market share in the management and treatment of hazardous and recyclable waste.

Industrial engines: Infinitum, which makes high-efficiency motors for industrial applications, announced it raised a $185 million Series E round led by Just Climate.

The great history of transportation

Redwood Materials prepares to recycle first big wave of used EV batteries

By 2024, a quarter of a million old electric vehicles will be ready to be dismantled and recycled. That could represent an increase of more than 30% from 2023, and Redwood Materials, which aims to be the country’s leading recycler of electric vehicle batteries, is ramping up operations to prepare for the coming onslaught.

Read more here.

Other sustainability news

A new forecast from researchers at more than a dozen universities finds that global temperatures They are rising much faster than previous models suggested. The study, led by climate scientist James Hansen, finds that Earth will reach an average temperature of 1.5° Celsius above the pre-industrial era in the coming years and will reach 2ºC brand before 2050.

Air quality levels in New Delhi plummeted to “severe” levels on Friday, prompting the closure of schools in India’s capital amid fears that the city’s toxic air level could worsen next week during the Diwali festival.

Despite the progress being made around the world, stricter measures are now needed to curb the plastic pollution crisis, according to a new study.

Researchers have discovered that the process of water evaporation It doesn’t necessarily depend on heat: light alone may be enough to achieve this, opening up possibilities for more energy-efficient ways of performing tasks that involve evaporation, such as desalination.

Maritime traffic through Panama Canal has slowed due to a severe drought, which has as a side effect a significant increase in shipping costs for liquefied petroleum gas.

MIT researchers have discovered a way to efficiently make formatswhich can be used to power fuel cells, from atmospheric carbon dioxide.

What else are we reading this week?

Deep in Trump country, Biden plan creates hundreds of green jobs (Bloomberg)

Everyone is angry at offshore wind developers (Heatmap)

California says electric cars now account for a fifth of auto sales (Bloomberg)

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