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January 13, 2023
Thought leadership

As New York embraces vehicle electrification, Synop can help put you in the driver’s seat to increased revenue

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Go green ― and pocket some green. That’s one of the main premises behind a climate plan recently approved by the state of New York that aims to reward companies that limit their emissions ― and penalize those who don’t.

In granting Governor Kathy Hochul the authority to enact a wide range of climate policies, the initiative focuses on ways to best meet state-mandated emissions reductions, including electrifying millions of vehicles, homes and businesses, investing in energy efficiency improvements, and building thousands of megawatts of new renewable energy projects.

Approved in December, the plan is integral to New York’s goal to slash emissions 40 percent by 2030 and 85 percent by 2050, compared to 1990 levels. A focal point will be the implementation of a cap-and-invest program, modeled after California’s cap-and-trade system, slated to combine a mixture of mandates and incentives to help persuade companies to go green.  

The initiative, which would place a statewide limit on emissions allowances, provides organizations that support electric vehicle (EV) fleets with a significant opportunity to create new revenue streams and tap into new ones such as vehicle-to-grid (V2G) orchestration. In doing so, these companies can utilize the cap-and-trade program to sell credits to less efficient companies who fail to meet mandates, such as fuel wholesalers, oil producers and other potential energy hoarders.

As New York embarks on this aggressive roadmap to lower emissions, Synop is uniquely positioned to support the effort. We understand that deploying and scaling electric fleets comes with complex challenges, such as how to optimize operations, billing and energy management, as well as oversee disparate vehicles, chargers, telematic sources and utility communication standards. By providing scalable, smart charging for commercial fleets, smart depot charging, energy management and EV operations all in one place, we are leading the journey to fleet electrification ― and invite you to come along for the ride!

Headquartered in New York and a leader in V2G orchestration, Synop is poised to empower the industry by accelerating the transition to electric commercial fleets with software that connects vehicles, chargers and the grid. Our sustainable solutions not only help regulate energy, but also provide new financial opportunities for fleets to lower emissions to comply with new regulations and even generate excess carbon credits to sell to others.

New York’s cap-and-invest program represents a profitable prospect for companies and operators looking to electrify their fleets and join the movement to reduce emissions, with supporters hoping that similar measures will be adopted in other states. As organizations continue this drive toward green energy, you can count on Synop to keep pace with ever-changing policies and regulations in our ongoing development of software and services to support fleet electrification.

Interested in learning about Synop's software platform for commercial EV fleets? Click "Book A Demo" at the top righthand side of this webpage and fill out the form today!

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