More than 90 percent of vehicle-owning households would lower their energy burden by switching to an EV—but low income families would still struggle.
, researchers found that more than 90 percent of vehicle-owning households in the country would shrink GHG emissions and their transportation energy burden if they switched to EVs.
“Due to the fuel cost savings, EVs effectively reduce the percentage of income that households have to spend on vehicles,” says Joshua Newell, professor of environment and sustainability at the University of Michigan and an author of the study. Newell and his colleagues estimated fuel costs in terms of US dollars per mile. They created an equation that included the gasoline price for vehicles with internal combustion engines. For EVs, they used the levelized cost of charging , which accounts for electricity prices as well as charging location, time of day, and power level.
lower LCOC compared to gasoline prices, smaller temperature- and drive cycle-related impacts on fuel consumption , or both.Widespread deployment of EVs would effectively double the number of households with a low transportation burden, based on the authors’ modeling, which they defined as spending less than 2 percent of their income on fuel annually.
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