The abstract of the concept is as follows:
For Electric Vehicles (EVs) to become a green and clean option, they must draw electricity from renewable sources such as biomass, solar, wind, hydel power, geothermal and tidal.
The EV manufacturer should have a holding company that invests in various satellite companies that generate clean energy from various renewable sources. The energy thus generated should be uploaded on a SMART GRID and the holding company should be granted equivalent energy credits. The EV manufacturer could use these credits to recharge the batteries of EVs sold by them at authorized recharging stations. The excess credits left after recharging the EVs could be traded with other EV manufacturers or other carbon footprint-heavy industries. Thus, a thriving secondary market for 'Green Energy Credits' could be created. Governments should offer tax benefits for income generated from trading of energy credits. This needs smart collaborations between various agencies and the government.