Comparing total cost of ownership of battery electric vehicles and internal combustion engine vehicles

Liu, Zhe; Song, Juhyun; Kubal, Joseph; Susarla, Naresh; Knehr, Kevin W.; Islam, Ehsan; Nelson, Paul; Ahmed, Shabbir

doi:10.1016/j.enpol.2021.112564

Title: Comparing total cost of ownership of battery electric vehicles and internal combustion engine vehicles

Journal Article · 01 September 2021 · Energy Policy

DOI: https://doi.org/10.1016/j.enpol.2021.112564 · OSTI ID:1819507

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Argonne National Lab. (ANL), Argonne, IL (United States). Chemical Sciences and Engineering Division
Argonne National Lab. (ANL), Argonne, IL (United States). Energy System Division

The technological advance of electrochemical energy storage and the electric powertrain has led to rapid growth in the deployment of electric vehicles. The high cost and the added weight of the batteries have limited the size (energy storage capacity) and, therefore, the driving range of these vehicles. However, consumers are steadily purchasing these vehicles because of the fast acceleration, quiet ride, and high energy efficiency. The higher pack-to-wheel efficiency and the lower energy cost per mile, as well as the lower expense for maintenance and repair, translate to operating savings over conventional vehicles. Here we compare battery electric vehicles with internal combustion engine vehicles based on the total cost of ownership. It is seen that the higher initial cost of electric vehicles can be recovered in as little as 5 years. This is especially true for electric vehicles with shorter driving ranges. Specifically, a vehicle with an electric driving range under 200 miles may achieve cost parity with an equivalent internal combustion engine vehicle in 8 years or less.

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Research Organization:: Argonne National Laboratory (ANL), Argonne, IL (United States)

Sponsoring Organization:: USDOE Office of Energy Efficiency and Renewable Energy (EERE); USDOE Office of Energy Efficiency and Renewable Energy (EERE), Transportation Office. Vehicle Technologies Office

Grant/Contract Number:: AC02-06CH11357

OSTI ID:: 1819507

Journal Information:: Energy Policy, Journal Name: Energy Policy Vol. 158; ISSN 0301-4215

Publisher:: ElsevierCopyright Statement

Country of Publication:: United States

Language:: English

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