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Blog Updated: November 2024
Electric vehicles (EVs) are a big part of a clean energy future. Currently, transportation accounts for 28% of greenhouse gas emissions in the U.S. And of those emissions, 57% comes from light-duty vehicles. Given this, it’s clear that EVs can revolutionize your travel while also changing large-scale transportation like school bus fleets and public transit. But the amount of electric vehicle information on the internet can be dizzying.
Besides, some of the electric vehicle information can be misleading, out-of-date, or simply untrue.
As a proponent of a clean energy future, we've compiled a guide on all things electric vehicles, including the most up-to-date electric vehicle information. We’ve even dispelled some common myths like EV mining is causing more harm than good.
What Is an EV?
An EV is an Electric Vehicle, meaning it’s a vehicle that runs on electricity for fuel rather than gasoline. Rather than filling up at the pump, you charge your EV using a public charging station or an EV charger installed in your home. Prices for fuel (electricity) vary widely depending on your charging source – with many free public charging options available including at our offices. To look at a cost breakdown and learn how much you’d save charging your EV with solar, check out this blog.
There are two kinds of EVs: battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs). These are your two main options when going electric. BEVs are all-electric vehicles that are exclusively powered by an electric motor. They have a larger battery capacity and a standard range of 100 to 400 miles depending on the model.
PHEVs have a smaller battery that allows them to travel on electricity alone for up to 60 miles, depending on the model. The battery is charged by plugging in, through regenerative braking, and by the engine. If not charged, these vehicles can run solely on gasoline, but they won’t achieve maximum fuel economy or take full advantage of their electric capabilities if ran solely on gasoline.
Other EV technology includes hybrid electric vehicles and fuel cell electric vehicles.
Current State of EVs
Currently, there are around 3.3 million electric cars on the road in the U.S. And since 2018, EV sales have increased by over 400%. Globally, EV sales neared 14 million in 2023 with China, Europe, and the U.S. accounting for the highest number of sales. And based on current policies and trends, the rollout of electric vehicles is set to avoid the need for nearly 6 million barrels of oil a day by 2030.
Car Sales in the U.S 2015-2024, Edmunds.com
Gasoline car sales still vastly outnumber EV sales in the U.S – and many developing and emerging countries - however, those sales are dropping.
When it comes to the environment, a typical passenger vehicle emits about 4.6 metric tons of CO2 per year. In comparison, MIT found that EVs will create fewer carbon emissions than gasoline-burning cars under nearly any conditions.
The EV market is incredibly dynamic and technology is steadily improving. In recent years, we’ve seen improved range, wider model availability, and increased performance. The widespread availability of electric vehicle information has also helped the EV market grow.
Generally, EVs include all-electric vehicles (BEVS) and plug-in hybrid vehicles (PHEVs). EVs cost less to operate because they have fewer moving parts and fluids to change, and their electrical systems require minimal maintenance, and have incredibly efficient drivetrains. And electricity is much cheaper than gasoline or diesel fuel, costing about $6 to drive 200 miles at a nationwide average, according to the Department of Energy. As icing on the cake, EVs are about three times more efficient than conventional vehicles which is enhanced by regenerative braking, allowing EVs to capture energy during braking that’s normally lost.
To get your free quote for an at-home EV charger or home solar from our non-commissioned salespeople, click the button below.
EV Considerations and Tradeoffs
There are limitations and certain tradeoffs that come with owning an EV. Many of these limitations are being overcome as technology improves and as infrastructure is built to support charging.
Cost
The adoption of electric vehicles hinges on their affordability. EVs are getting cheaper as technology improves and competition intensifies but they remain more expensive than cars with internal combustion engines in the U.S. Currently, EVs remain 10% to 50% more expensive.
However, in the U.S., the financial incentives to purchase an EV are significant. As a result of the Inflation Reduction Act, a federal tax credit is available for EV purchases and can range from $3,750-$7,500. The IRA also made a tax credit for EV chargers available that can total up to $1,000.
The state of Colorado is currently offering further incentives for EVs that can total up to $7,500 depending on the MSRP of your EV, with EVs under $35,000 MSRP receiving the highest benefit.
The state is also offering the Vehicle Exchange Colorado (VXC) program to income qualified Coloradans. This is a rebate that partially covers the upfront cost of an EV at the time of purchase or lease from an authorized dealer. Currently, the rebate amount is between $4,000 and $6,000 when you recycle and replace your old or high-emitting vehicle with an EV.
Further, many utilities are offering rebates towards EVs or at-home charging stations. Xcel customers in Colorado who are income qualified are eligible for rebates of $3,000 off a used EV or $5,500 off of a new one. San Isabel Electric Association customers may be eligible for a rebate of $500 with the purchase of an EV. And for Black Hills Energy customers who are income qualified, rebates of up to $3,000-$5,500 are available for purchases of new or pre-owned EVs.
These financial incentives can be stacked. So, with financial incentives like these in place, EV prices quickly outcompete prices on gasoline cars.
Range
The range of EVs is something that also feels limiting for some people. There’s even a term for it, “range anxiety,” which means the fear of running out of charge. Most EVs that are available to you now have ranges between 100 and 400 miles. For many people, that’s enough for commuting and errands but not enough for long-distance road trips. To combat this, manufacturers are producing larger batteries while making increasing access to charging a priority. It’s likely a combination of these two remedies that will eventually make range anxiety a thing of the past. Current EV owners plan their trips around charging stations, using tools like government websites, search engines, and apps to locate the nearest charging station – whether they’re close to home or on a longer trip.
Infrastructure
The other most common limitation for EVs is charging infrastructure. Currently, most charging demand is met by home charging. And if we’re interested in providing the same level of convenience and accessibility that is available to refuel a conventional vehicle, we need to increase the amount of publicly accessible chargers. At the end of 2023, there were 3.9 million public charging points worldwide. With the U.S. housing 61,000 of those charging stations in February 2024. By 2030, if we want to achieve the Net Zero Emissions Scenario, we’ll need a stock of 17 million publicly available charging points, which would require a year-over-year increase of around 23%.
Publicly accessible light-duty vehicle charging points in the Net Zero Scenario, 2015-2030 (source: iea.org)
Electricity Source
If you own an EV, the source of your electricity influences its environmental impact. For example, Xcel customers in Colorado source electricity from the following energy mix in 2023: 26% coal, 32% natural gas, 34% wind, 7% solar, 1% other carbon free, and <1% other. The most advantageous way for an EV owner to charge your EV is with a home solar system. If you choose this route, you’ll be saving money on your electricity bills while ensuring that your EV runs off clean energy from the sun.
Source: xcelenergy.com
Electric Vehicle Information to Bust Some Myths
As optimists, we know that overcoming limitations – as opposed to seeing them as insurmountable barriers - is the path toward an equitable, sustainable future. It turns out that several of the barriers some people currently cite when it comes to EVs aren’t even barriers at all.
Take mining for example. Many people are concerned about the environmental damage caused by mining lithium for EV batteries. The worry is that this practice isn’t viable in the long-term, much less to an extent that will meet the projected EV demand. It is true that batteries do more harm upfront than gasoline cars. But the harm becomes less year after year and the harm doesn’t completely negate the good that an EV does.
The Rocky Mountain Institute is an independent, nonpartisan, nonprofit that works to transform global energy systems through market-driven solutions. In a recent study, they found that even as battery demand surges, we’ll reach peak demand for mined materials within a decade and may even avoid mineral extraction altogether by 2050. This is due to the combined forces of increased efficiency and innovation, and circularity driven by battery recycling and reusing.
It's these factors that compound to help us move from the linear extraction model of fossil fuels to a circular loop in the supply chain.
Their new report found that accelerating six key solutions – deploying new battery chemistries, making batteries more energy-dense, recycling their mineral content, extending their lifetime, improving vehicle efficiency, and improving mobility efficiency – can help us reach net-zero mineral demand in the 2040s.
When it comes to end-of-life care for the batteries, we're on the right track. Currently, we have a higher-than-demand installed recycling capacity. And as of September 2023, the installed and announced recycling capacity is projected to meet the demand we'll have in the 2040s.
Source: theicct.org
Greenhouse Gas Emissions in EV Production
Another often cited issue is that EVs produce more greenhouse gas emissions than they offset. It’s true that EVs produce more greenhouse gas emissions during production than their gasoline counterparts due to the creation of their lithium-ion batteries. The battery manufacturing process is intensive and means that building a new EV can produce around 80% more emissions than building a sibling combustion engine vehicle.
While there are no emissions coming out of the tailpipe, the source of the energy used to charge its batteries can create further emissions. So, if you charge your EV with home solar or through a community solar garden subscription, you’re minimizing the emissions from the energy source.
Even given all of this, EVs still emit less emissions than their gasoline counterparts. Using the nationwide average of different energy sources, the Department of Energy found that BEVs create 3,932 lbs. of CO2 equivalent per year, compared to 5,772 lbs. for plug-in hybrids (PHEVs), 6,258 lbs. for typical hybrids, and 11,435 lbs. for gasoline vehicles.
The Future of EVs
So, what could a future where EVs are fully integrated look like? It’s hard to tell right now. But there are some indications of the direction we could be going. And let us tell you, it looks pretty good.
With enhanced battery technology, it’s possible for EVs to add hundreds of miles to their ranges within this decade. But even with today’s technology, it’s possible to take long-range trips while leaving the anxiety in the dust. Just check out NPR’s summer electric car road trip.
Electric technology is moving beyond just passenger vehicles, too. Companies are reimaging heavy-duty vehicles like semis, travel trailers, transit buses and more. Louisville, Colorado just became the nation’s first city with a fully electric garbage and recycling fleet.
The Future is Electric
To meet future emissions targets, the need for widespread electrification is great. Overhauling our fossil fuel dependent transportation is a key part of this process and EVs are a great way to do this.
Going beyond EVs, you can look at other components of your life, including your home. Things like transitioning your gas furnace to a heat pump and going solar contribute to a clean, electric future.
If you’re interested in home electrification, installing an EV charger, or going solar, our non-commissioned sales folks are ready to talk with you to see how we can help you reach your goals. We’ll always give you straight-forward advice, not a sales pitch. Click the button below to get started.
