Panama enacts electric mobility law


On April 25, 2022, Law No. 295 was enacted, which promotes electric mobility in land transport. This new regulation proposes an energy transition process from thermal transport to electric land transport, and promotes the reduction of greenhouse gases.

The energy transition includes proposals focused on technological evolution in the public, private and even academic sectors, and its objective is to position Panama as a new country with the intention of improving the environment.

The new law establishes that from 2025, at least 10% of the vehicles of public entities and collective and selective transport (i.e. buses and taxis) must be electric. In 2027, the minimum percentage will increase to 25% for public persons and 20% for collective and selective transport. It is planned that by 2030, the minimum percentage of the electric park of public establishments will be 40% and 33% for collective and selective transport.

It is important to mention that Law 295 allows the entry of new business models, stimulating the economy, energy efficiency, software development and new technologies, relying on both educational institutions and companies, carrying out adaptation and training in educational plans that allow the development of professionals interested in this modality, which will surely generate jobs.

The law in question establishes two incentives that aim to increase the use of electric vehicles, namely: a) exemption from vehicle license plate fees for five years and b) public establishments, shopping centers and real estate projects must have a minimum of 15% preferential parking for electric vehicles, which will be distinguished and marked in green.

With the promulgation of this law, the installation of charging stations for electric vehicles is regulated. In this regard, the law provides that municipalities will require the installation of charging stations as a prerequisite for the approval of building permits for residential and commercial buildings and public institutions. In addition, these charging stations will be equipped with a meter that will record the energy consumed by the vehicles, it will allow the energy used to recharge the vehicles to be resold and a register will be created for the generation of data and the measurement of gases. Greenhouse effect.

Finally, Law 295 modifies the rate of the selective consumption tax for land vehicles with electric motors by setting it at 0% until December 31, 2030 and at 5% from January 1, 2031. For land vehicles with hybrid engines, the selective consumption tax rate is set at 10%.

We are sure that this law will accelerate the purchase of electric vehicles in Panama, which will help reduce environmental pollution. On the other hand, it comes at a very opportune time when the world population is affected by the high price of oil and its derivatives.

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