U.S. Senate Energy Committee Approves Nearly $4 Billion in Support for Electric Vehicles

The U.S. Senate Energy and Natural Resources Committee today approved a $2 billion program aimed at putting 400,000 electric cars on the road in three years.  The legislation also authorizes a $1.5 billion research program to lower the cost of vehicle batteries and connecting them to the electricity grid.

The bill approved by the committee would devote almost $3.9 billion over 10 years into certain communities to build electric vehicle recharging infrastructure, as well as to conduct research and provide incentives for consumers to buy plug-in vehicles.

According to Bloomberg:

The program, to be run by the Energy Department, would provide electric-car grants to “deployment communities” across the U.S., said Senator Byron Dorgan, a North Dakota Democrat and author of the measure. The communities would be studied to help electric-car manufacturers, power companies and government officials work out how to get more of the vehicles on the road.

This legislation will undoubtedly help the San Francisco Bay Area, which has been at the center of the growing vehicle electrification industry.

Read more here.

John Corcoran is an Associate with Plastiras & Terrizzi law firm in San Rafael, California (Marin County).  He advises clients on real estate matters, small business issues, estate planning, and general civil litigation.