Busting Electric Vehicles Myths
The upfront cost is dropping for all electric vehicles. Many are already cost-competitive.
With lower fuel and maintenance costs, it’s now much more affordable to buy, own and operate an electric vehicle than a gas-powered car.
- Once you include fuel and maintenance cost savings, which are significant, it costs much less to buy, own and operate an EV than a gas powered vehicle today. A Harvard Kennedy School Study found: At $200 per kWh, the EV is cheaper to buy, own and operate than the internal combustion (ICE) vehicle in every scenario by up to $4,300. Union of Concerned Scientists analysis finds EVs are significantly cheaper.
Sales of gas-powered vehicles have been declining since 2018.
Meanwhile, electric vehicle sales are growing exponentially while costs are dramatically dropping.
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- Internal combustion engine (ICE) vehicle sales have peaked, according to most analysts.
- EV sales have been more resilient during the pandemic/recession, and more resilient than gas powered car sales.
- Carmakers are producing more EVs. Electric car stock increased 40% year-on year in 2019, according to the IEA.
The electrical grid benefits from electric vehicles.
The increase in overall demand is minimal and electric vehicles benefit the grid by storing and managing energy and driving electricity rates down for users.
- EVs are driving electricity rates down. This isn’t down the road. This is happening now. (Synapse Energy Report)
- In California, today, our electricity grid is powered by over 34% renewables, with a total of 77% powered by low to no carbon energy.
- Some smart charging and time-of-use pricing will be needed to prevent localized constraints, but overall the power market can comfortably integrate the additional demand. (BNEF)
- Batteries and electric vehicles (EVs), can be central to protecting reliability, according to a new Southern California Edison (SCE) paper, Reimagining the Grid, describing the evolution of tomorrow’s grid.
From factory to road, electric vehicles, with zero tailpipe emissions, emit a fraction of global warming pollutants that gas-powered vehicles produce.
EVs across all segments are already displacing 1 million barrels of oil demand per day globally.
- From manufacturing to fueling to driving, EVs produce less pollution than gas-powered vehicles. (DOE)
- Union of Concerned Scientists undertook a comprehensive, two-year review of the climate emissions from vehicle production, operation, and disposal. They found that battery electric cars generate half the emissions of the average comparable gasoline car, even when pollution from battery manufacturing is accounted for.
There are more than 60 electric vehicle models available today and manufacturers are debuting more every year. With instant acceleration, driving electric is fun, fast and powerful.
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- Most EVs on the market today go from 0-60 mph in less than 8 seconds, some in less than 3. They are among the speediest on the market, and far faster than most gas-powered vehicles. (Motortrend)
- Dozens of new passenger EV models will hit the US market in the next two to three years. These are finally addressing the light truck, SUV, and crossover markets in large numbers. COVID-19 has impacted some delivery schedules, but these delays are marked in months, not years. (Car and Driver) (BNEF)
California is on the fast track to build out charging infrastructure, with policies, investments and regulatory streamlining, to ensure everyone can charge when and where they need to charge.
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Electric vehicles now have over 200 mile range with models having over 400 mile range coming onto the market soon. Most EV owners charge their vehicles at home.
Plus, with DC fast chargers across California’s traffic corridors, an electric vehicle refuels in close to the same time it takes to refill a gas vehicle.
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- Over the past decade, the electric vehicle market has grown to more than 60 different cars. The best electric cars all get more than 200 miles on a charge.
- The U.S. Department of Transportation (DOT) estimates that the average American drives 40 miles per day. The 200-plus miles per battery charge offered by many of today’s electric cars provides all the driving range that commuters need. Actually, they provide five times the required distance.
- The time it takes to charge an electric car can be as little as 30 minutes or more than 12 hours. This depends on the size of the battery and the speed of the charging point.
Electric Vehicles could be the state’s next big global industry.
California is home to 34 different electric vehicle manufacturers and electric vehicles make up the state’s second biggest export. This global industry is a multi-trillion dollar opportunity for the state.
- Electric vehicles are the state’s second-biggest export. This is the next big global industry – a multi-trillion dollar opportunity for California, and anyone else who leads the electric vehicle market.
- CA stands out in market opportunity for EVs, and accounted for half of EV sales from 2010-17. (ICCT)