Encouraging Electrification through Energy Service Subscriptions
While electrification could be an effective approach to reducing emissions from transportation and buildings, transitioning away from the use of fossil fuels is a significant undertaking. The United States has nearly 280 million registered light-duty vehicles, and approximately 95 percent of light-duty vehicles still run on gasoline (NHTS 2017). Residential and commercial buildings together used 8.45 trillion cubic feet of natural gas in 2018, which was nearly 12 percent higher than use in 2017 (EIA 2019). Additionally, record low prices of oil and natural gas in early 2020, which are projected to continue for some time, make switching away from fossil fuels even less attractive. Transitioning these sectors away from the use of fossil fuels is therefore a significant task and will require public encouragement and private sector investment.