THE USE OF A MARKETABLE PERMIT SYSTEM FOR LIGHT-DUTY VEHICLE EMISSION CONTROL. DISSERTATION NO. 2

The current regulation of light-duty vehicle emissions in the U.S. requires each and every vehicle to meet uniform emission standards. This approach lacks flexibility in the ways in which manufacturers meet emission standards and gives little or no incentives for manufacturers to beat emission standards. This results in costly and lengthy reductions in motor vehicle emissions. To reduce the cost of achieving a pre-determined emission reduction goal, this dissertation proposes the use of a marketable permit system for light-duty emission control. Through a marketable permit system, a vehicle manufacturer is allowed to average emissions across individual vehicle engine families to meet corporate average vehicle emission standards. A manufacturer whose average vehicle emission rates are below average standards earns emission reduction credits equal to the difference between the standards and its average rate, multiplied by its vehicle sales volume. Manufacturers are allowed to bank emission reduction credits for future use and/or trade the credits among each other. A marketable permit system will have different emission impacts than the current regulatory system. However, these emission impacts can be addressed by careful system design.

Language

  • English

Media Info

  • Features: Appendices; References; Tables;
  • Pagination: 243 p.

Subject/Index Terms

Filing Info

  • Accession Number: 00673876
  • Record Type: Publication
  • Report/Paper Numbers: UCD-ITS-RR-92-3
  • Files: TRIS
  • Created Date: Jan 23 1995 12:00AM