Explanation
The cost of buying and operating EVs and HEVs can be attributed to two main contributors: the initial cost of purchase and the driving cost. The initial cost is the price of the vehicle which, in case of EVs, depends heavily on the price of batteries (Nykvist and Nilsson). The driving cost is the expenses required to keep the vehicle operational, such as maintenance, fuel, and spare part cost. Because these factors vary depending on the type of vehicle, a comparison that accounts for all of these criteria is needed to show the total life cycle cost (LCC) of each type of transport. LCC accounts for all the cost of a vehicle; as such, it gives a complete picture of both the disadvantages and the advantages (Mitropoulos and Prevedouros).
Data
The initial cost of HEVs is generally lower compared to EVs due to the high capacity batteries EVs require. However, because of the tax incentives and lower cost of electricity, the after-purchase cost is lower if the vehicle is all-electric (Leistikow). In Fig.1, the data is for multiple types of vehicle and calculation were done to find the total LCC. Afterward, the data was used to find the necessary usage for EVs’ total cost to drop below that of HEVs’.
From the figure, it can be seen that for the first 50,000 miles, the HEVs have lower cost; but after …show more content…
Due to technology constraints, even a top EV model, such as the Tesla Model S, can only run for 215 miles until its batteries are depleted. Meanwhile, an average HEV like the Prius can be driven for 500 miles before its batteries and fuel tank are emptied (EPA's MPG Ratings). This, coupled with the lack of public charging station, makes EVs unsuitable for long range transport. However, recent study shows that the average travel distance in the US is just 50 miles per day, as shown in figure 3 (Haaren). This distance can be covered by most EVs, including the lowest priced models such as the Nissan Leaf (EPA's MPG
The cost of buying and operating EVs and HEVs can be attributed to two main contributors: the initial cost of purchase and the driving cost. The initial cost is the price of the vehicle which, in case of EVs, depends heavily on the price of batteries (Nykvist and Nilsson). The driving cost is the expenses required to keep the vehicle operational, such as maintenance, fuel, and spare part cost. Because these factors vary depending on the type of vehicle, a comparison that accounts for all of these criteria is needed to show the total life cycle cost (LCC) of each type of transport. LCC accounts for all the cost of a vehicle; as such, it gives a complete picture of both the disadvantages and the advantages (Mitropoulos and Prevedouros).
Data
The initial cost of HEVs is generally lower compared to EVs due to the high capacity batteries EVs require. However, because of the tax incentives and lower cost of electricity, the after-purchase cost is lower if the vehicle is all-electric (Leistikow). In Fig.1, the data is for multiple types of vehicle and calculation were done to find the total LCC. Afterward, the data was used to find the necessary usage for EVs’ total cost to drop below that of HEVs’.
From the figure, it can be seen that for the first 50,000 miles, the HEVs have lower cost; but after …show more content…
Due to technology constraints, even a top EV model, such as the Tesla Model S, can only run for 215 miles until its batteries are depleted. Meanwhile, an average HEV like the Prius can be driven for 500 miles before its batteries and fuel tank are emptied (EPA's MPG Ratings). This, coupled with the lack of public charging station, makes EVs unsuitable for long range transport. However, recent study shows that the average travel distance in the US is just 50 miles per day, as shown in figure 3 (Haaren). This distance can be covered by most EVs, including the lowest priced models such as the Nissan Leaf (EPA's MPG