Widespread adoption of plug-in electric vehicles (PEVs) in California could confer significant economic benefits by both 2030 and 2050, resulting in increases to Gross State Product (GSP), employment, real household incomes, and state revenue, according to a new report commissioned by the think tank Next 10 . The report, Clean Transportation: An Economic Assessment of More Inclusive Vehicle Electrification in California , was prepared by Berkeley Economic Advising and Research (BEAR) and assesses the economic implications of the projected increase in electric vehicle use with a long-term economic forecasting model, focusing on the policy milestone years of 2030 and 2050. BEAR considered four scenarios to illustrate the consequences of different pathways for large-scale electrification of the light vehicle fleet, with two key factors informing the variations between each scenario: (1) electric vehicle adoption patterns and (2) Incremental Vehicle Costs (IVC). The adoption patterns vary among the scenarios, with the […]