- Dec 13, 2019
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Electric cars are parked at the center of a charged debate. How can you know when and whether to buy in?
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Desire to be a vessel of honor unto the Lord Jesus Christ?
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[__ Science __ ] Charged
- Thread starter AIG.com
- Start date
Barbarian
Member
- Jun 5, 2003
- 33,133
- 2,480
We examine the private and public economics of electric vehicles (EVs) and discuss when market
forces will produce the optimal path of EV adoption. Privately, consumer cost savings from EVs
vary. Some experience net benefits from choosing gasoline cars, even after accounting for EV
subsidies. Publicly, we survey the literature documenting the external costs and benefits of EVs
and highlight several themes for optimal policy design including, 1) promoting regional variation
in EV policies that align private incentives with social benefits, 2) pursuing a time-path of
policies that reflect changing marginal benefits, and 3) rationalizing electricity and gasoline
prices to reflect their social marginal cost. On the extensive margin, purchase incentives should
ramp-down as learning-by-doing and network externalities (to the extent that they exist)
diminish; on the intensive margin, gasoline should become relatively more expensive over time
than electricity (per mile traveled) to reflect cleaner marginal emissions from electricity
generation.
For me, there would be high initial costs because buying an EV would include purchase of a charger, because I'm obsessive and would want to charge it up quickly. It appears that given gas prices and electric prices in my area, and lower maintenance costs, the savings would be substantial, but would take some time to overcome the initial costs. Not ready yet. When the technology is more mature, the cost/'benefit ratio will drop markedly.
forces will produce the optimal path of EV adoption. Privately, consumer cost savings from EVs
vary. Some experience net benefits from choosing gasoline cars, even after accounting for EV
subsidies. Publicly, we survey the literature documenting the external costs and benefits of EVs
and highlight several themes for optimal policy design including, 1) promoting regional variation
in EV policies that align private incentives with social benefits, 2) pursuing a time-path of
policies that reflect changing marginal benefits, and 3) rationalizing electricity and gasoline
prices to reflect their social marginal cost. On the extensive margin, purchase incentives should
ramp-down as learning-by-doing and network externalities (to the extent that they exist)
diminish; on the intensive margin, gasoline should become relatively more expensive over time
than electricity (per mile traveled) to reflect cleaner marginal emissions from electricity
generation.
For me, there would be high initial costs because buying an EV would include purchase of a charger, because I'm obsessive and would want to charge it up quickly. It appears that given gas prices and electric prices in my area, and lower maintenance costs, the savings would be substantial, but would take some time to overcome the initial costs. Not ready yet. When the technology is more mature, the cost/'benefit ratio will drop markedly.