The accelerated adoption of electric vehicles (EVs) has changed the automotive industry forever. Tax credits and subsidies have lowered the initial cost barrier for many. According to the Edison Electric Institute, the number of EVs on U.S. roads is projected to reach 26 million in 2030, up from 19 million in 2018. All eyes now turn to whether or not domestic infrastructure to charge all those EVs can keep pace. This rise in EV popularity can be attributed to several factors, including a greater awareness of the environmental impact of traditional gasoline-powered vehicles and advances in EV technology. The decreasing cost of EV batteries and the availability of government incentives and tax credits also have contributed to this increased adoption.

As we start 2023, we expect the clean energy revolution to continue and we’re carefully watching these top three climate trends… First, an increase in ESG funding is on the horizon as well as new regulations governing these ESG funds. Second, the drive for electric vehicles cranks into high gear in 2023. Beyond skyrocketing EV sales, we’ll see a substantial increase in battery-powered school buses, fleets and commercial trucks. And third, we predict the challenge to reduce Scope 3 emissions will take center stage in 2023.