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Vehicle Efficiency Incentives (formerly known as Feebate)

Vehicle Efficiency Incentives (formerly known as Feebate). Atiyah Curmally Kathleen Esposito Brown University Center for Environmental Studies December 3, 2002. Overview. Received data from the DMV - 1,037,205 records Decided to use Model Year 2001

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Vehicle Efficiency Incentives (formerly known as Feebate)

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  1. Vehicle Efficiency Incentives(formerly known as Feebate) Atiyah Curmally Kathleen Esposito Brown University Center for Environmental Studies December 3, 2002

  2. Overview • Received data from the DMV - 1,037,205 records • Decided to use Model Year 2001 • Fields used: Year, Zip code, Make, Model, Weight, Body type, VIN number, Class, Fuel efficiency, and Price

  3. 2001 Class Distribution, RI 3.7% 4.4% 6.2% 24.7% 8.9% 20.0% 10.3% 17.0%

  4. % US Sales vs. % RI Sales

  5. Fuel Efficiency ProfileAverage Fuel efficiency: 22.45 mpg Average price: $23,836 - range: $9,390 - $170,779

  6. Fuel Efficiency Range Best = Insight @ 64 mpg Runner Up = Prius @ 48 mpg (Best non-hybrid = Civic @ 38) Worst = Hummer @ 9 mpg Runner Up = Excursion @ 12mpg

  7. Average Performers Toyota Camry @ 27 mpg Ford F-150 @ 16 mpg VW Passat Wagon @ 23 mpg

  8. Distribution of Vehicles in RI

  9. 2-Tier Program

  10. 8-Tier Program

  11. 12-Tier Program

  12. Scenario 1 • Target: 23 mpg • Fee: $500 for each mpg below the target • Total Fees: $62,481,000 collected • Amount for administration: $2,000,000 • Rebate: $500 for each mpg above the target • Total Rebates: $44,099,000 rewarded • Capped at $5,000 in each direction • Contingency Fees: $16,382,000

  13. Scenario 2 • Target: 23 mpg • Fee: Sliding scale 2 – 10% on the purchase price based on mpg below the target • Total Fees: $39,657,286 collected • Amount for administration: $2,000,000 • Rebate: Sliding scale 2 – 10% on the purchase price based on mpg above the target • Total Rebates: $13,394,853 rewarded • Contingency Fees: $24,262,433

  14. Scenario 3 • Target: 23 mpg • Fee: Sliding scale 2 – 10% on the purchase price based on mpg below the target • Total Fees: $39,657,286 collected • Amount for administration: $2,000,000 • Rebate: Redistribution of fees collected based on mpg above the target • Total Rebates: $28,533,355 rewarded • Contingency Fees: $9,123,931

  15. Changes in Data Management • Adopt uniform system of data entry • Year • Make • Model • Fuel Efficiency • Purchase Price • Retain a copy of each Model years registered vehicles • Use more effective VIN decoding software

  16. Potential Future Analysis • Use the Tellus Stock Turnover model to see where RI 2001 Model registrations will need to go in order to attain the desired carbon reductions by 2020

  17. Vehicle Efficiency Incentive Act • Carbon emissions based • Leased Vehicles • Edge Effects • Equity Concerns • Safety Concerns • Propose new name for the Feebate Program • Examples • Homeland Security Vehicle Efficiency Incentive Act • Bad Examples • Tax for Fuel Conservation (Ontario) • An Act to Promote the Application of Scientific Principles and Technical Advances to Increase Automobile Efficiency and Reduce Global Warming (MA)

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