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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.
Researchers recently conducted an analysis of how trying to meet the Paris Agreement targets would affect energy jobs in 50 countries. They found that action to reach the targets would increase net jobs by about 8 million by 2050, primarily due to gains in the solar and wind industries. Why This Matters: An estimated 18 […]
After years of devastating fire seasons, California utility Pacific Gas and Electric (PG&E) announced that it aims to move about 10,000 miles of power lines underground to avoid accidental sparks. Why This Matters: Wildfires have continued to become increasingly catastrophic as a result of climate change. Last year’s wildfire season broke records— NIFC reported that […]
by Natasha Lasky, ODP Staff Writer For years there’s been a false narrative perpetuated by special interest groups that electric vehicles actually produce more greenhouse gases than the average internal combustion vehicle. However, a new study shows that this is not true — over the entirety of its life cycle, an EV will release fewer […]
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