Drivers willing to pay more for cars that capture carbon emissions
Drivers who believe that human activity contributes to global warming are willing to pay more for vehicles with technologies that reduce carbon emissions, a recent study from the University of Michigan finds.
Overall, those surveyed indicated they were willing to pay about $100 for a 20 percent reduction in carbon dioxide emissions and $250 for an 80 percent reduction. They also would be willing to trade off fuel economy for lower emissions. Drivers said they would accept 5 percent lower fuel economy for 20 percent less carbon dioxide emissions or 10 percent lower fuel economy for an 80 percent reduction. And consumers were willing to give up trunk space: 10 percent less trunk for a 20 percent emissions reduction or 16 percent less trunk for an 80 percent reduction.
Carbon capture is still largely in the experimental stage, as a storage mechanism of captured carbon. Its now being stored underground or beneath the ocean, neither of which offers a practical long-term solution.Download Bulletin PDF