Electric Vehicles Creating $2 Trillion for Economy by 2040

Triple Pundit Reports!!

Electric vehicles (EVs) will overtake conventional vehicles by 2040 and will create a $2 trillion e-mobility opportunity for utility companies, according to research released today by Accenture.

The global consultancy reached this conclusion after surveying 6,000 consumers in the United States and Europe, combined with scenario modeling undertaken by the authors of the study. Accenture’s report is part of ongoing research trends that suggest EVs are not only here to stay, but will scale up in adoption fast.

Source: txnologist

The potential for utilities builds. Builds on trends that favor continued growth of the global electric vehicle market. Though the up-front cost of an EV still typically exceeds that of cars powered by the internal combustion engine (ICE). Yet even since this article was written, battery costs have decreased by 80 percent over the past six years. That’s from US$750 per kilowatt-hour (kWh) in 2010. That’s again what Accenture points out. So today, price parity with ICE cars continues to narrow.

BMW i Solar Carport Concept (05/2014)

In addition, the long-term running costs of EVs are lower than fossil fuel-powered vehicles. So an electric car with a 60 kWh battery achieves an overall lower total cost of ownership. That’s well and significantly before 40,000 miles rolls around. Now compared with a diesel vehicle according to the study.

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2017 Ford Focus Electric

Written by greenlivingguy

The Green Living Guy, Seth Leitman is a green living expert, celebrity and Editor of the McGraw-Hill, TAB Green Guru Guides. Seth is also an Author, Radio Host, Reporter, Writer and a Environmental Consultant on green living. The Green Living Guy writes about green living, green lighting, the green guru guides and more. Seth's books range from: # Build Your Own Electric Vehicle by Bob Brant and Seth Leitman (2nd and 3rd editions) # Build Your Own Plug-in Hybrid Electric Vehicle by Seth Leitman # Build Your Own Electric Motorcycle by Carl Vogel # Green Lighting by Seth Leitman, Brian Clark Howard and Bill Brinsky # Solar Power For Your Home by David Findley # Renewable Energies For Your Home by Russel Gehrke # Do-it-Yourself Home Energy Audits by David Findley # Build Your Own Small Wind Power System by Brian Clark Howard and Kevin Shea # and more green living books to follow.