Evaluating the Challenges and Opportunities for Sustainable Transit Fueled by Renewable Energy
The realities of the market show the inevitability of an all-in cost of carbon. In 2015, ACORE's Transportation Initiative will be focused on advancing a low carbon aviation, land and maritime transportation sector; which includes renewable, low or no-carbon fuels, electric vehicles, renewable aviation fuels, bio-diesel-electric locomotives and maritime power plants, and enabling storage and delivery technologies.
Vision & Challenge
ACORE will convene all the relevant stakeholders to examine the growing role of renewable energy in the rapidly evolving transportation sector. According to the U.S. Energy Information Administration (EIA), the United States consumes more energy in its transportation sector than any other country, with 250 million vehicles on the road.
Now more than ever, our transportation vehicles and aging infrastructure must be transformed to meet 21st century needs. Accomplishing this will require the adoption of new technologies, finance mechanisms, effective policies, and greater collaboration among all entities that make up the transportation sector. Currently, light duty vehicles, such as hybrids, electric vehicles, and alternative fuel vehicles make up 20% of the automobiles on the road. However, by 2040, that number is expected to reach 49% (EIA). The growing demand for sustainable ground, water and air transit, technology innovations, emerging financial structures and uncertain policy outlook, create challenges and opportunities for a transportation sector fueled by increasing amounts of renewable energy.
Objectives & Program
This Initiative brings together thought-leaders from ground, water and air transit to: (1) examine the challenges and opportunities related to the transition from a fossil fuels-dominated transportation infrastructure to one driven by greater efficiencies and renewable energy; (2) identify and advance understanding of the corresponding market conditions, financial structures and policy mechanisms that must be in place to facilitate this transition; and (3) educate the public and policy makers about the benefits of a transportation sector fueled by increasing amount of renewable energy.
The Initiative’s primary objective is to provide a forum for discussion, education, member visibility and engagement in the vision and strategy for tomorrow’s renewable transportation sector, encompassing all technologies and principal constituencies including:
- Energy Providers
- Technology Developers
- Component Suppliers
- Financial Entities
- Professional Service Firms
- Government Agencies
- Cities and Ports
- End Users
A Committee of sustainable transportation leaders, composed of ACORE members, has been formed to bring to bear their experience, expertise, and perspectives from across the sector, to broaden and deepen Initiative inputs and support consensus building. The Committee is engaged in structured activities and deliverables, including market, technology, finance and policy analysis; drafting of formal comments; holding topical meetings and webinars; and providing public and policy maker education through ACORE’s various communications platforms and partnerships. The Advisory Committee convenes monthly calls to advance its objectives.