GCC: Study of 5-year TCO suggests ongoing challenge to unsubsidized BEV cost-competitiveness
Posted: Mon Jul 09, 2018 7:46 pm
A team at Arizona State University has analyzed the five-year Total Cost of Ownership (TCO) for representative electric, hybrid, and conventional vehicles—the Nissan Leaf (BEV), Toyota Prius (HEV), and Toyota Corolla (ICEV)—in 14 US cities from 2011 to 2015.
The results, reported in a paper in the journal Energy Policy, show spatial variation due to differences in state and local policies, fuel prices, insurance and maintenance costs, depreciation rates, and vehicle miles traveled. Despite those differences, in nearly all cities, the BEV’s higher purchase price and rapid depreciation outweighed its fuel savings.
Sensitivity analyses highlighted the impact of key parameters and showed that both federal and state incentives were necessary for BEVs to be cost-competitive. . . .