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Lithium-Ion Batteries for EVs Forecast to Reach $22 Billion in Annual Market Value by 2020
As lithium-ion (Li-ion) battery technology continues to improve, battery cell manufacturers have built new factories that incorporate advanced production techniques, and automakers have greatly increased their research and development (R&D) efforts on plug-in electric vehicles (EVs). According to a new report from Pike Research, a part of Navigant’s Energy Practice, these developments will translate into strong growth for Li-ion batteries over the remainder of the decade.
NAFA Applauds The Extension Of The Alternative Fuels Excise Tax
While the biggest news came from preventing the country from going over the “fiscal cliff”, the U.S. government also played a significant role in the direction of fleet vehicles for the near future with the bill signed into law on January 1. That bill contained the Extension of Alternative Fuels Excise Tax, an incentive that helps justify the use of biodiesel and alternative fuel vehicles for thousands of fleets. The extension continues a $1.00 per gallon tax credit for biodiesel and a $0.50 per gallon alternative fuel tax credit for natural gas and propane throughout 2013. In addition, the bill retroactively covers fuels produced in 2012 after the tax credit had expired.
The State of American Energy Report
America runs on energy. Every moment of every day, energy is required for Americans to maintain their daily lives, and the majority of that energy is supplied by oil and natural gas. Oil and natural gas are integral to all aspects of the U.S. economy—and America’s economic recovery—as the success of any modern economy is dependent on reliable and affordable energy. Over the last 100 years, and well into the foreseeable future, oil and natural gas have and will continue to provide the energy America needs to succeed.