Individual policy impacts on reducing the 2035 green premium, relative to BF-BOF

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Based on 2035 policy impacts. Percentage values denote the policy's impact on reducing the initial premium to BF-BOF costs. Electricity subsidy and coal and natural gas removals not included in upcoming government policies. CEV credit only applies to steel used in battery electric vehicles, plug-in hybrid vehicles, and fuel cell electric vehicles. The value of the CEV tax credit for the Scrap EAF route is lower than DRI routes, as scrap only accounts for ~18% of automotive steel input. However, ongoing innovation and R&D efforts could increase the share of scrap use in automotive steel.

Source: RMI Analysis