Vermont Applies Social Cost of Carbon in Regulations for Low-Emission and Zero- Emission Vehicles
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Application
Economic analysis for vehicle regulations
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Date
December 2022 -
Details
In December 2022, the Vermont Department of Environmental Conservation updated its low-emission vehicle and zero-emission vehicle regulations to remain consistent with California’s emission standards. The agency quantified emission-reduction benefits resulting from the rule in its cost-benefit analysis using the social cost of carbon. The agency used a central discount rate of 2%, with a sensitivity range from 1% to 3%.
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SCC Value(s)
$129 per metric ton (for year 2025 emissions) at a 2% discount rate; with sensitivity estimates of $56 (using a 3% discount rate) and $418 (using a 1% discount rate).
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