Study: Owning an EV Costs $17.33 per Gallon
A New Study Reveals the Shocking True Cost of Owning an Electric Vehicle
A groundbreaking study titled “Overcharged Expectations” has unveiled a startling revelation: without federal subsidies, the actual cost of fueling an electric vehicle would be equivalent to a staggering $17.33 per gallon of gasoline.
Conducted by the Texas Public Policy Foundation, the study argues that electric vehicles cannot be evaluated in isolation from other vehicles due to the extensive range of direct subsidies, regulatory credits, and subsidized infrastructure that contribute to their economic viability.
The report highlights that when factoring in the costs of these subsidies, the true cost of fueling an electric vehicle would amount to $17.33 per gallon of gasoline. This estimation does not even include the additional subsidies outlined in the Inflation Reduction Act, which amount to hundreds of billions of dollars.
According to the study, a 2021 electric vehicle would cost an additional $48,698 to own over a 10-year period without the $22 billion in government favors provided to EV manufacturers and owners. The report emphasizes that traditional gasoline-powered vehicles are more affordable than electric vehicles without subsidies.
The study further asserts that the federal government is subsidizing electric vehicles to a greater extent than wind and solar electricity generation, embarking on an unprecedented endeavor to reshape the entire American auto industry.
Based on the study’s findings, approximately $22 billion in federal and state aid has artificially reduced the price of a 2021 electric vehicle by nearly $50,000.
Moreover, the report estimates that the strain on the power grid from charging electric vehicles costs other individuals $11,833 over a 10-year period, funded by taxpayers and utility ratepayers.
While the general population bears these additional costs, state and federal subsidies reduce the real cost of an electric vehicle by an average of $8,984 over 10 years, according to the report.
The study from the Texas Public Policy Foundation (TPPF) found, for example, that the average 2021 electric vehicle “would cost $48,698 more to own over a 10-year period without $22 billion in government favors given to EV manufacturers and owners.” https://t.co/bu1hwp7Sma
— Bud Brigham (@bmbrigham) October 27, 2023
“The stark reality for proponents of EVs and for the dreamers in the federal government, who are using fuel economy regulations to force manufacturers to produce ever more EVs, is that the true cost of an EV is in no way close to a comparable,” the report emphasizes.
The report highlights that consumers have shown a greater preference for hybrid vehicles compared to electric vehicles. It suggests that if politicians and bureaucrats in Washington, D.C., cease their attempts to impose their preferred vehicle types on Americans, the cleaner and brighter future they envision may actually become a reality.
“It’s time for federal and state governments to stop driving the American auto industry off an economic cliff and allow markets to drive further improvements in cost and efficiency,” the report concludes.
In a statement on the foundation’s website, study author Jason Isaac reveals that the sticker price of an electric vehicle conceals numerous hidden costs.
“The Biden administration and leftist states such as California have pushed for widespread electrification in less than 20 years through government subsidies and coercive regulations, but the price you see in the lot is not the true cost of an electric vehicle,” Isaac explains.
He adds, “Electric vehicle owners have been the beneficiaries of regulatory credits, subsidies, and socialized infrastructure costs totaling nearly 50 thousand dollars per EV. These costs are borne by gasoline vehicle owners, taxpayers, and utility ratepayers, who are all paying a hefty price for someone else’s EV.”
Study author Brent Bennett asserts, “Proponents of EVs have falsely pushed the claim that EVs will soon cost less than gas-powered cars. This study shows that EVs are still a long way from being competitive without massive subsidies.”
He further states, ”The Biden administration’s stringent fuel economy standards and regulatory manipulations are driving American automakers toward bankruptcy and adding thousands of dollars to the cost of every gasoline vehicle. Rolling back these subsidies and burdensome regulations would save consumers money and stop the auto industry from falling off a financial cliff.”
The post ‘Overcharged’: Major Study Reveals Alarming True Cost of Owning an EV, ’Fueling’ Equal to $17.33 Per Gallon appeared first on The Western Journal.
People towards electric vehicles. Let consumers make their own choices based on their needs and preferences,” the report concludes
A New Study Reveals the Shocking True Cost of Owning an Electric Vehicle
A groundbreaking study titled “Overcharged Expectations” has unveiled a startling revelation: without federal subsidies, the actual cost of fueling an electric vehicle would be equivalent to a staggering $17.33 per gallon of gasoline.
Conducted by the Texas Public Policy Foundation, the study argues that electric vehicles cannot be evaluated in isolation from other vehicles due to the extensive range of direct subsidies, regulatory credits, and subsidized infrastructure that contribute to their economic viability.
The report highlights that when factoring in the costs of these subsidies, the true cost of fueling an electric vehicle would amount to $17.33 per gallon of gasoline. This estimation does not even include the additional subsidies outlined in the Inflation Reduction Act, which amount to hundreds of billions of dollars.
According to the study, a 2021 electric vehicle would cost an additional $48,698 to own over a 10-year period without the $22 billion in government favors provided to EV manufacturers and owners. The report emphasizes that traditional gasoline-powered vehicles are more affordable than electric vehicles without subsidies.
The study further asserts that the federal government is subsidizing electric vehicles to a greater extent than wind and solar electricity generation, embarking on an unprecedented endeavor to reshape the entire American auto industry.
Based on the study’s findings, approximately $22 billion in federal and state aid has artificially reduced the price of a 2021 electric vehicle by nearly $50,000.
Moreover, the report estimates that the strain on the power grid from charging electric vehicles costs other individuals $11,833 over a 10-year period, funded by taxpayers and utility ratepayers.
While the general population bears these additional costs, state and federal subsidies reduce the real cost of an electric vehicle by an average of $8,984 over 10 years, according to the report.
“The stark reality for proponents of EVs and for the dreamers in the federal government, who are using fuel economy regulations to force manufacturers to produce ever more EVs, is that the true cost of an EV is in no way close to a comparable,” the report emphasizes.
The report highlights that consumers have shown a greater preference for hybrid vehicles compared to electric vehicles. It suggests that if politicians and bureaucrats in Washington, D.C., cease their attempts to impose their preferred vehicle types on Americans, the cleaner and brighter future they envision may actually become a reality.
“It’s time for federal and state governments to stop driving
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