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Sparks

New Jersey Is the Latest State to Go All-EV

Gov. Phil Murphy announces new rules aiming to wean the state off internal combustion passenger vehicle sales by 2035.

New Jersey Governor Phil Murphy.
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New Jersey Gov. Phil Murphy just announced a rule requiring that all new cars sold in the state must be electric by 2035, with interim goals starting for model year 2027 and ramping up from there.

Meeting these goals will take an aggressive push given that as of June, just 1.8% of the state’s light duty vehicles were electric, according to the New Jersey Motor Vehicle Commission. To help with the transition, New Jersey offers rebates — up to $4,000 — on top of federal tax credits towards EV purchases. And though the Garden State has just 911 public charging locations as of February, compared to California’s 16,000, it plans to add 500 more by 2025.

Perhaps unsurprisingly, the state’s EV advocates greeted Murphy’s announcement with optimism. “Our state needs to reduce our greenhouse gas emissions and air pollution, and after this announcement we are no longer sitting in the slow lane while other states pass us by on clean energy,” Alex Ambrose, a climate policy analyst for New Jersey Policy Perspective, told local news outlet NJ Advance Media.

The new rule is based on a 2022 California regulation known as Advanced Clean Cars II, making New Jersey one of 17 states, including New York and Maryland, to adopt all or part of California’s low- or zero-emission vehicle regulations. Crucially, as Kate Klinger of the Governor’s Office of Climate Action and the Green Economy toldROI-NJ, Advanced Clean Cars II does not affect the sale of used cars. So just as a federal assault weapons ban wouldn’t mean AR-15s suddenly disappear, so too do EV sales targets allow for the continued existence of internal combustion vehicles.

Will that make 2035 the beginning of a new environmental culture war — new-car liberals versus used-car conservatives? We can only hope. As a native New Jerseyan, I’ll look forward to the day when our most vigorous debate is no longer whether the state’s favorite breakfast meat should be called “Taylor ham” or “pork roll.”

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Sparks

Trump’s Offshore Wind Ban Is Coming, Congressman Says

Though it might not be as comprehensive or as permanent as renewables advocates have feared, it’s also “just the beginning,” the congressman said.

A very large elephant and a wind turbine.
Heatmap Illustration/Getty Images

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Donald Trump.
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An Insurance Startup Faces a Major Test in Los Angeles

Kettle offers parametric insurance and says that it can cover just about any home — as long as the owner can afford the premium.

Los Angeles fire destruction.
Heatmap Illustration/Getty Images

Los Angeles is on fire, and it’s possible that much of the city could burn to the ground. This would be a disaster for California’s already wobbly home insurance market and the residents who rely on it. Kettle Insurance, a fintech startup focused on wildfire insurance for Californians, thinks that it can offer a better solution.

The company, founded in 2020, has thousands of customers across California, and L.A. County is its largest market. These huge fires will, in some sense, “be a good test, not just for the industry, but for the Kettle model,” Brian Espie, the company’s chief underwriting officer, told me. What it’s offering is known as “parametric” insurance and reinsurance (essentially insurance for the insurers themselves.) While traditional insurance claims can take years to fully resolve — as some victims of the devastating 2018 Camp Fire know all too well — Kettle gives policyholders 60 days to submit a notice of loss, after which the company has 15 days to validate the claim and issue payment. There is no deductible.

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