Electric vehicle (EV) battery prices fell 84% between 2010 and 2018 as their range doubled. As ratios continue to improve, industry analysts now forecast that EVs will cost less to buy than gas and diesel-powered versions in less than five years.
Yes, a bus pass is cheaper, but for those who still want or need their own vehicle, EV cost savings for consumers are already compelling here and now. A 2018 study from the University of Michigan’s Transportation Research Institute found that EVs cost less than half as much to operate as gas-powered cars.
A research fellow from the University of Calgary, with a background in the energy sector, recently analyzed EV math for consumers and explained the results last week on BNN. Spoiler alert: he ended up buying a Tesla.
University of Calgary research fellow Blake Shaffer discusses the cost calculations he used to determine whether electric cars can be economical for consumers. Here is a direct video link.
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