Ministry of Finance: Electric vehicles mean added value

In a recent weekly newsletter, the Center for Energy Policy & Management at Washington & Jefferson College reported on two distinct and interesting energy topics.

The first was electrifying news from the U.S. Treasury Department: American consumers who bought electric vehicles this year saved more than a billion dollars.

This was done through a tax rebate included in the federal Inflation Mitigation Act, which took effect on January 1.

The Treasury Department said buyers reached the milestone by purchasing more than 150,000 electric vehicles, representing an annual savings of $1,750 for each consumer in fuel and maintenance costs. The department projected that over the 15-year lifespan, electric vehicle owners would save $18,000 to $24,000 compared to a comparable gasoline vehicle.

The Inflation Reduction Act of 2022 included incentives and funding for clean energy initiatives, including electric vehicles.

The biggest savings in the cost of a clean vehicle come from fuel, but maintenance costs are typically 40% lower for electric vehicles than for gasoline-powered vehicles.

By 2035, electric vehicles are expected to account for about half of all global car sales.

Coal is declining

CEPM also reported that the coal industry remains under pressure.

According to the U.S. Energy Information Administration, coal-fired power generation will account for 14 percent of the PJM Interconnection region’s energy supply in 2023. That’s a 64 percent decline from 44 percent in 2013, just a decade earlier.

The EIA attributes the decline to the higher price of coal compared to other energy sources, particularly natural gas. Fracking over the past two decades has released abundant gas reserves in the Marcellus and Utica shales of Pennsylvania, West Virginia and Ohio.

PJM Interconnection is a regional transmission utility that coordinates the transportation of wholesale electricity in all or parts of 13 states, including Washington, DC, Pennsylvania, Ohio, and West Virginia.

Webinar on farmers markets

Penn State Extension will host a webinar titled “Tips on the Road: Highlights of the Farm Market Bus Tour” on Thursday, August 6, from 12:00 p.m. to 12:30 p.m.

The Extension Service said it will discuss strategies and lessons learned from the 2024 bus tour to help participants increase their appeal and succeed in the agricultural retail industry.

The event is aimed at owners and managers of farmers’ markets and agritourism, owners of farms and food companies, owners and managers of food retail companies and producers of added value food products.

The Extension’s Business, Entrepreneurship and Economic Development team will lead the webinar, focusing on strategies to increase profitability through merchandising techniques, customer retention tactics and product selection.

The webinar is free, but participants must register by the event date to receive the webinar link. Registered participants will also receive access to the recording of the webinar.

For more information, visit https://extension.psu.edu/tipsfromtheroad.

Innovations in medicine

Innovations in Medicine, a community program that Penn Highlands Mon Valley has offered for more than 15 years, will continue in July with a program for hospitalists.

Dr. Gopi Vadlamudi, medical director of the hospitalists at Penn Highlands Mon Valley, will present a talk on “Hospitalists and Your Health Care” on July 18 at 3 p.m. in the Anthony M. Lombardi Education Center on the Penn Highlands Mon Valley campus. A hospitalist is a doctor who cares for inpatients during hospitalization. Vadlamudi and Nicole Owen, PA-C, who works with the hospitalists, will discuss the role of the hospitalist team in patient care.

Refreshments will be served and giveaways will be distributed. Parking is free.

To register or to be added to a mailing list for advance information on upcoming programs, contact the Penn Highlands Mon Valley Auxiliary at 724-258-1234 or [email protected].