Monday, October 30, 2023

Electric Vehicles still not Economical

The Texas Public Policy Foundation released this report:
Setting aside some of the questionable assumptions used in deriving such favorable economics for EVs, no one has attempted to calculate the full financial benefit of the wide array of direct subsidies, regulatory credits, and subsidized infrastructure that contribute to the economic viability of EVs. In this paper, we show that the average model year (MY) 2021 EV would cost $48,698 more to own over a 10-year period without $22 billion in government favors given to EV manufacturers and owners.

EV advocates claim that the cost of electricity for EV owners is equal to $1.21 per gallon of gasoline (Edison Electric Institute, 2021), but the cost of charging equipment and charging losses, averaged out over 10 years and 120,000 miles, is $1.38 per gallon equivalent on top of that. Adding the costs of the subsidies to the true cost of fueling an EV would equate to an EV owner paying $17.33 per gallon of gasoline.

If this is true, electric vehicles (EV) are being propped up by subsidies.

The EVs continue to be a big disappointment for Detroit car makers. They are nowhere close to making their sales estimates.

1 comment:

CFT said...

Electric vehicles are also very polluting. You can't just look at one part of a vehicles life cycle, you must factor in the pollution of the vehicles construction, Maintenance, and disposal, and then there is the elephant in the room: What is the source of energy being used to create the electricity in the power grid to power the vehicle? Is it from coal? Nuclear? diesel?

Using the power grid to charge battery powered automobiles from distant sources is incredibly wasteful. Aside from the electrical inefficiency of battery storage, and the nature of batteries to deteriorate over time, Electrical attenuation through the powerlines itself will waste an incredible amount of energy being used.

There is nothing remotely 'eco friendly' about lithium batteries, their production or disposal.