{"id":2082737,"date":"2023-10-28T21:45:01","date_gmt":"2023-10-29T01:45:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/study-true-costs-of-electric-vehicles-far-higher-than-most-believe\/"},"modified":"2023-10-28T21:48:17","modified_gmt":"2023-10-29T01:48:17","slug":"study-true-costs-of-electric-vehicles-far-higher-than-most-believe","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/study-true-costs-of-electric-vehicles-far-higher-than-most-believe\/","title":{"rendered":"Study reveals electric vehicles have significantly higher costs than commonly believed."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fstudy-true-costs-of-electric-vehicles-far-higher-than-most-believe%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2082737&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>A Shocking Revelation:\u200b The True Cost of Electric\u200d Vehicles<\/h2>\n<p style=\"font-weight: 400\">Prepare to be stunned by the findings of a groundbreaking <a href=\"https:\/\/www.texaspolicy.com\/wp-content\/uploads\/2023\/10\/2023-10-TrueCostofEVs-BennettIsaac.pdf\">new study<\/a> on electric vehicles\u2062 (EVs). Contrary to popular belief, the total cost of running \u2064an EV, \u200cwhen taking government subsidies into account, is far higher than previously thought.<\/p>\n<p style=\"font-weight: 400\">In a report released by Brent Bennett and Jason Isaac for the Texas \u2062Public Policy Foundation, they challenge the prevailing notion that EVs are more cost-effective due \u2062to lower maintenance and fueling expenses. They also\u2064 question the assumption that future reductions \u2063in battery\u200c prices will make EVs more affordable.<\/p>\n<blockquote>\n<h3>The Hidden Costs of EVs<\/h3>\n<p style=\"font-weight: 400\">According to\u200c Bennett and \u200cIsaac, \u200cno one has truly examined the\u2062 full financial impact\u200b of the extensive range of\u200b direct subsidies, regulatory credits, and subsidized infrastructure that contribute\u200c to the economic viability\u2062 of EVs.<\/p>\n<p style=\"font-weight: 400\">Their research reveals that an average model year (MY) 2021 EV would cost a\u200d staggering \u200b$48,698 more to own over a 10-year \u200cperiod without the $22 billion in government favors provided to EV manufacturers and owners. When factoring \u200din the subsidies, the cost of fueling \u200dan EV would be equivalent to a mind-boggling $17.33 per gallon of gasoline. And these figures don&#8217;t even \u2063include the additional hundreds of billions in subsidies for the EV supply chain, \u200bparticularly for battery manufacturing, outlined in the Inflation\u2062 Reduction Act (2022).<\/p>\n<\/blockquote>\n<p style=\"font-weight: 400\">The authors\u200d highlight that\u200c nearly $22 billion in federal and state subsidies and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/study-true-costs-of-electric-vehicles-far-higher-than-most-believe\/\" title=\"Study reveals electric vehicles have significantly higher costs than commonly believed.\">regulatory credits artificially\u2062 lowered<\/a> the retail price of EVs in 2021 by an average of almost $50,000. The \u2064consequences are evident, with car lots overflowing with unsold \u200dEVs and the\u200b Ford Motor Company\u2062 losing\u2064 a staggering $70,000 on each EV\u200b it currently sells.<\/p>\n<blockquote>\n<h3>The\u200b Burden \u200don the Grid<\/h3>\n<p style=\"font-weight: 400\">Bennett\u200d and Isaac raise an important question: When an EV owner connects to the electric \u200dgrid, how much are they truly paying for the additional generation, transmission, and distribution costs they impose on the\u2062 grid? Furthermore, will these embedded costs continue\u2062 to \u2063rise over time?<\/p>\n<\/blockquote>\n<p style=\"font-weight: 400\">In their conclusion, the \u2063authors deliver \u2063a sobering reality check for EV proponents and the dreamers in \u2063the federal government who are pushing for increased EV production through fuel \u2062economy regulations. They assert that the true cost of an EV is nowhere near comparable to an <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/kerry-biggest-thing-im-doing-in-my-lifestyle-to-fight-climate-change-is-traveling-around-the-world-doing-diplomacy\/\" title=\"Kerry: 'Biggest Thing I'm Doing in My Lifestyle' to Fight Climate Change 'Is Traveling Around the World' Doing Diplomacy\">internal combustion engine vehicle<\/a> (ICEV). Their conservative estimate suggests that the average\u2063 EV\u200d accumulates $48,698 in subsidies\u200b and an additional $4,569 in charging and electricity costs over a 10-year period, resulting in a total cost of\u2062 $53,267, or $16.12 per equivalent\u200c gallon of gasoline. Without\u2063 continued \u200dgovernment support, EVs will remain more expensive than ICEVs for the foreseeable future.<\/p>\n<p><em>This article\u200d has\u2062 been \u2064revised for emphasis and clarity.<\/em><\/p>\n<p> <\/p>\n<h2> How do the upfront costs of purchasing an electric \u200cvehicle compare to those of \u2062a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/the-environmental-downside-of-electric-vehicles\/\" title=\"The Environmental Downside of Electric Vehicles\">comparable internal combustion engine vehicle<\/a>, taking into account the subsidies and incentives?<\/h2>\n<p><span>  Benefit of government subsidies. This includes \u200bfederal, state, and local subsidies and incentives for\u2064 purchasing EVs, as well as tax credits for charging infrastructure installation.<\/p>\n<p style=\"font-weight: 400\">The researchers argue that \u2063these subsidies create a distorted market,\u200b artificially inflating the demand for EVs. This, in turn, leads to higher prices for both EVs and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/house-oversight-launches-investigation-into-granholm-electric-vehicle-road-trip\/\" title=\"House Oversight investigates Granholm's electric vehicle road trip.\">traditional internal \u2064combustion engine<\/a> (ICE) vehicles. The cost of these subsidies\u2064 is ultimately borne by taxpayers who may not even benefit from the EV incentives.<\/p>\n<blockquote>\n<h3>The Impact on Consumers and\u2064 Taxpayers<\/h3>\n<p style=\"font-weight: 400\">The study highlights \u2062several significant\u200c findings that unveil the true cost of EVs. Firstly, the upfront cost of purchasing an EV is considerably higher than that of a comparable ICE vehicle. This is due to \u200dthe advanced\u2062 technology and materials required for EVs, coupled with the lack of economies\u200c of scale in manufacturing.<\/p>\n<p style=\"font-weight: 400\">Secondly, the\u2062 cost of owning an EV over its lifespan is substantially\u200c greater, even with the relatively lower maintenance \u200band fueling costs. The analysis takes into account the cost of\u200d replacing batteries, which \u200dis one\u200d of the most significant \u200dmaintenance expenses\u2062 for EV owners.<\/p>\n<p style=\"font-weight: 400\">Thirdly,\u2064 the study highlights the impact of range anxiety on\u200c EV owners. Range anxiety refers to the fear of running out of charge before reaching a charging station. This fear has\u2062 economic consequences, as EV owners \u200coften take longer routes or avoid trips altogether to ensure they have sufficient charge. This leads to increased \u200btravel\u200b time and inconvenience for EV owners.<\/p>\n<\/blockquote>\n<p style=\"font-weight: 400\">The researchers conclude that the current approach of subsidizing EVs may not be the most cost-effective way to reduce carbon emissions. The true cost of EVs, when taking into account government subsidies, challenges the notion of their \u200daffordability and \u200dsustainability. Instead, they suggest that investing in\u200c research and development for more efficient and sustainable technologies, such as advanced ICE vehicles or alternative fuels, may be a more prudent use of resources.<\/p>\n<p style=\"font-weight: 400\">This study has far-reaching implications for policymakers and consumers alike. It calls for a reevaluation\u2063 of\u200d the incentives and subsidies provided for the adoption of electric vehicles.\u200d While the reduction of carbon emissions and transitioning towards a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/tell-me-youre-a-liberal-elite-without-telling-me-youre-a-liberal-elite-cruz-rips-buttigieg-pushing-evs-while-gas-prices-soar\/\" title=\"\u2018Tell Me You\u2019re A Liberal Elite Without Telling Me You\u2019re A Liberal Elite\u2019: Cruz Rips Buttigieg Pushing EVs While Gas Prices Soar\">cleaner transportation system<\/a> are critical,\u2064 it is essential to consider\u2064 all the costs \u200dinvolved rather than relying solely on the perceived benefits.<\/p>\n<p style=\"font-weight: 400\">In conclusion, this\u2064 groundbreaking study reveals that the true cost of running EVs is far higher than previously thought. The extensive range\u200c of direct subsidies and incentives presents a distorted economic \u200dreality,\u200d leading to artificially higher prices for EVs and traditional ICE vehicles. The implications of\u2064 this study call for a reevaluation of current policies and a more comprehensive approach to sustainable transportation solutions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A recent study on electric vehicles reveals that their overall cost, including government subsidies, is much higher than commonly assumed. Brent Bennett and Jason Isaac&#8217;s report for the Texas Public Policy Foundation highlights that despite claims of lower maintenance and operating expenses, electric vehicles prove to be more expensive.<\/p>\n","protected":false},"author":60,"featured_media":2082738,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[541],"tags":[],"class_list":["post-2082737","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2082737","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/60"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2082737"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2082737\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2082738"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2082737"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2082737"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2082737"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}