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When will it be cheaper to buy an EV than a gas car?
Right now, the sticker price on an EV is higher than its conventional counterpart. One of the Department of Energy’s key goals is to develop battery technology that costs the same as an internal combustion engine (ICE). However, it’s unclear exactly when and how far these prices will decline but the picture is coming into better focus. According to Utility Dive, the Electric Power Research Institute (EPRI) estimates that the current cost per kilowatt-hour (kWh) for EV batteries is between $120/kWh and $200/kWh at the battery pack level, which includes an integrated battery management system and thermal management. The DOE’s goal is to create a battery pack that costs $80/kWh by 2030, which is price parity with conventional cars, while EPRI says that the best case would be $55/kWh by 2030. The price also depends on the size of the battery pack. Battery electric vehicles with 40 kWh packs, which amounts to about a 160-mile range, “are already at initial cost parity with ICE vehicles today, and have a far smaller lifetime cost of ownership when including maintenance, fueling, etc,” according to EPRI. At $80/kWh, vehicles with 60kWh packs would achieve initial cost parity with ICE vehicles, EPRI estimates.
By Amy Lupica, ODP Daily Editor A new report has found that since the 2015 signing of the Paris agreement, more than 75% of the world’s planned coal plant projects have been scrapped, and 44 countries have no future coal plans whatsoever. The report’s authors hope this trend will continue as the COP26 conference in […]
By Amy Lupica, ODP Daily Editor The House Ways and Means Committee has released their portion of the reconciliation for the Democrats’ $3.5 trillion spending package. The plan follows through on many promises made by the Biden administration, including clean energy tax credits and credits for electric vehicle owners. The plan, announced on the heels […]
By Amy Lupica, ODP Daily Editor On Tuesday, the Biden administration announced that it would “revise” regulations regarding renewable energy on public lands, a move that may ease the development of solar and wind projects. The Bureau of Land Management (BLM) said that it would be seeking input for a new proposal, which it plans to issue early next year. […]
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