Utilities should act now to take advantage of VW settlement electrification opportunitiesDownload
Electric Utilities should be in contact today with their state’s designated recipient of the 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 these 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 the state level is critical since many states have yet to determine how these funds will be spent, and since non-electrification NOx reduction strategies may also be eligible.
Utilities who position themselves to play an active role in the mitigation effort now have an opportunity to maximize the benefits to their customers. In this ICF quick take, we will:
- Examine what the settlement means to the State and Electric Utilities
- Provide a roadmap for Utilities to leverage settlement funds in their service territory
- Discuss how Utilities can get involved to promote load and revenue growth through Beneficial Electrification programs.