Are You Thinking About Buying an Electric Vehicle?
In the blink of an eye, technology can change our lives. We’ve all seen it happen. A good example is sometimes called the iPhone moment. In 3 years or less iPhones changed the way we communicate. Since the Industrial Revolution, iPhones are only one example of many culture-altering events that we can credit to modern science and technology. The speed with which Covid vaccines were developed, in record time, is another familiar example. A common current question is whether electric vehicles will take over our transportation with the same speed. And will they restrict emissions without hurting growth?
When the first electric vehicle hit the market in 2010, just 300 were sold. The following year total electric vehicle sales grew to 17,700. By 2019 electric sales had already climbed to 327,000. Nearly 6.8 million electric vehicles have sold since they came on the market. While today’s market share for electric vehicles (EVs) is small, there are aggressive programs to change that percentage and they are well underway.
If automakers meet their pledged goals, EVs could dominate the road very rapidly.
If you’re someone who can afford the upfront cost of a brand new battery-powered car, subsidies for getting your combustible engine off the road are attractive.
Electrifying transportation is a large-scale solution in the making. It’s moving forward with great support and great speed.
Here are more compelling reasons electric vehicles could take over quickly.
EVs already cost less without subsidies if you factor in the comparatively modest maintenance costs. EVs have fewer moving parts than internal combustion engines and don’t require oil changes, which reduces an EV’s lifetime maintenance costs.
For most users, the range of an EV compares favorably with that of a gas-powered engine.
In many ways, it seems possible – if not probable when looked at through a certain lens — that we are on the threshold of a rapid and expansive growth in fast charging battery-powered cars, similar to the rapid expansion of smartphones.
If this information finds you thinking more about whether a battery-powered car will be the next new car in your driveway, you’re not alone.
One of the recently released recommendations from the International Energy Agency is to end the sale of internal combustion engine cars by 2035. Their report states, “We estimate that around 55% of the cumulative emissions reductions in the pathway are linked to consumer choices such as purchasing an EV, retrofitting a house with energy-efficient technologies, or installing a heat pump.” That gives us about the right amount of time to evaluate how much longer to keep our gas-powered cars, which last a long time because of today’s high manufacturing standards.
Think twice about your next new car purchase and don’t forget that joining a local Community Solar farm also reduces emissions without hurting growth.