Economic Impacts of Electric Vehicle Adoption

Primary Author(s)

Florida Solar Energy Center
Makena Coffman, Florida Solar Energy Center

Report Number

FSEC-CR-2047-17

URL

http://publications.energyresearch.ucf.edu/wp-content/uploads/2018/06/FSEC-CR-2047-17.pdf

Keywords

Alternative Fuel Vehicles; Electric vehicles; Economic impact; GHG emissions; Vehicle adoption; Life cycle costs

Abstract

The objective of the Economic Impacts of Electric Vehicle Adoption research project was to examine the predicted levels of electric vehicle (EV) adoption, to analyze the life cycle costs of EVs compared to internal combustion engine vehicles and to evaluate EV impacts on GHG emissions for Hawaii. The results were presented in three publications. The first report evaluated EV penetration rates and provided an assessment of expected EV penetration over time. The research also assessed factors that affect EVs adoption, including regulatory mechanisms. The results estimated there will be 140,000 EVs on the road in Hawaii by the year 2040 in the reference scenario. These results can be used to estimate the impact of EVs on Hawaii's economy and to determine the level of opportunity of EV's use as a grid stabilization tool. To complement the first report results, EV life cycle costs (LCC) were analyzed in the second report. This report also assessed the impact of the federal tax credit for EVs and of the benefits of household solar photovoltaic systems coupled with proposed time-of-use (TOU) electricity rates for EV owners. The third report estimated greenhouse gas (GHG) emissions of EVs in Hawaii to include comparisons with similar internal combustion engine (ICE) vehicles. In terms of GHG emissions, EVs offer an improvement over ICEs. However, the model that looks at GHG emissions by island community showed that hybrid electric vehicles (HEVs) outperform EVs on Oahu while EVs outperform HEVs on Hawaii Island. This final report highlights the detailed results presented in three publications.

Date Published

2-1-2017

Identifiers

92

Subjects

Electric vehicles--Economic aspects; Greenhouse gas mitigation; Automobiles--Environmental aspects; Electric vehicles--Costs

Local Subjects

Alternative Fuel Vehicles

Type

Text; Document

Collection

FSEC Energy Research Center® Collection

STARS Citation

Florida Solar Energy Center and Coffman, Makena, "Economic Impacts of Electric Vehicle Adoption" (2017). FSEC Energy Research Center®. 92.
https://stars.library.ucf.edu/fsec/92