Electric vehicles are an integral part of President Biden’s bipartisan infrastructure plan as his administration unveiled its National Electric Vehicle Infrastructure Formula Program last month – providing states with $5 billion to develop electric vehicle charging stations.
The goal is to establish a nationwide network of 500,000 electric vehicle charging stations, which the president hopes will help him reach his goal of increasing electric car sales by up to 50% of all car sales by 2030.
To push consumers towards electric, the Biden administration has also introduced a federal tax credit up to $7,500 for all electric and plug-in hybrid cars purchased new in 2010 or later. The amount of the credit varies according to the capacity of the battery used to power the vehicle.
California leads the nation in electric vehicle adoption, with the alliance report noting that in 2021, the state accounted for nearly 40% of all light-duty electric vehicles registered in the United States. Florida followed at nearly 6 percent, Texas at about 5 percent and New York at 4.4 percent. thehill.com/….
Clean Energy Canada recently reported that electric vehicles are exceptionally cheaper after eight years of ownership (12,000 vehicles per year), although you’ll likely pay more upfront. For example, a VW SUV costs almost 50% more than a Honda CR-V.
However, what you pay for the vehicle is only part of the total cost of ownership. Calculate the highest monthly auto loan of an electric vehicle versus the higher fuel and maintenance costs of a gas-powered car. Using 2021 average gasoline prices and 2021 average electricity prices, the electric ID.4’s “refueling” costs were a third of the (relatively efficient) gasoline CR-V — and helped reduce the cost per kilometer traveled by 22%.
After eight years, the reduction in fuel costs is also compounded by lower maintenance costs. With no oil changes to perform and a much simpler electric drivetrain, maintenance and repair costs for the electric vehicle were just over half those of the gasoline vehicle, offsetting the slightly higher depreciation of the ID.4 and contributing to a 28% reduction in cost of ownership. more than eight years
Factor in significantly higher fuel prices in 2022, and the cost savings of switching to electric are greatly magnified – to the tune of $24,000 Canadian or $17,000 US over eight years. That’s almost enough to buy another car! www.greencars.com/…
A Forbes magazine interview with environmentalist Saul Griffith examines what it will take to move to a carbon neutral world, what obstacles stand in the way and how we as citizens can play a part. The key to the equation is how quickly we need to increase the production and use of electric cars, solar cells, batteries and heat pumps.
When it comes to climate change, we have been sitting idly by waiting for a miracle. There’s a mindset that technology will save us, but we’ve been waiting for this miracle technology for so long that to meet our current climate goals, we need 100% adoption rates of clean energy technologies at from last year. What I mean by a 100% adoption rate is that every time someone in the world buys a car starting tomorrow, it has to be electric. We can no longer buy natural gas furnaces to heat our homes. We cannot buy new power plants that run on fossil fuels.
The good news is that miracle technologies will arrive. And batteries, solar power, wind power and electric vehicles already exist – but not at the capacity we need. But by developing these technologies, by implementing renewable technologies in homes and offices, we can buy time to fight climate change in a more substantial way. Saul Griffith Solving Climate Change the American Way: Saul Griffith’s Vision for an Electric Future
Kitchen Table Kibitzing is a community series for those who want to share a virtual kitchen table with other Daily Kos readers who don’t throw pies at each other. Stop by to talk about music, your time, your garden or what you cooked for supper…. Newcomers may notice that many of those who post in this series already know each other to some degree, but we welcome guests to our kitchen table and hope to make new friends as well.
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