Abstract
Electric vehicles (EVs) have advanced significantly this decade, owing in part to decreasing battery costs. Yet EVs remain more costly than gasoline fueled vehicles over their useful life. This paper analyzes the additional advances that will be needed, if electric vehicles are to significantly penetrate the passenger vehicle fleet.
Highlights
Cell costs have plummeted to $145 per kWh or lower, and are expected to continue falling with technological improvements and returns to large-scale production
If the Level 1 user pays ToU rates for their electricity, the average rate paid for their Electric vehicles (EVs) charging falls as a result, saving almost $2,000 over a 40 mpg internal combustion-engined vehicles (ICE) and almost $7,000 over a 24 mpg ICE
The challenges facing EV deployment have become more tractable in recent years, but they are still considerable
Summary
Cell costs have plummeted to $145 per kWh or lower, and are expected to continue falling with technological improvements and returns to large-scale production. While cells are only one component of the cost of an installed battery, the cost of installed batteries has declined from around $1,000 per kWh in 2010 to an estimated $250350 per kWh in 2018. Total battery costs are falling more slowly, as consumers demand EVs with longer ranges and larger batteries. Governments are finding it increasingly difficult to fiscally justify large subsidies to attract buyers
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