Sources Contact Advanced Search Tutorials

An Interest In:

Web News this Week

Search Archive

Some of Our Sources

View All Sources

Help Webnuz

Referal links:

November 23, 2019 02:02 am

Why the Electric-Car Revolution May Take a Lot Longer Than Expected

New submitter magzteel shares a report from MIT Technology Review: A new report from the MIT Energy Initiative warns that EVs may never reach the same sticker price so long as they rely on lithium-ion batteries, the energy storage technology that powers most of today's consumer electronics. In fact, it's likely to take another decade just to eliminate the difference in the lifetime costs between the vehicle categories, which factors in the higher fuel and maintenance expenses of standard cars and trucks. The findings sharply contradict those of other research groups, which have concluded that electric vehicles could achieve price parity with gas-powered ones in the next five years. The lingering price difference predicted by the MIT report could stunt the transition to lower-emission vehicles, requiring governments to extend subsides or enact stricter mandates to achieve the same adoption of EVs and cuts in climate pollution. The problem is that the steady decline in the cost of lithium-ion batteries, which power electric vehicles and account for about a third of their total cost, is likely to slow in the next few years as they approach limits set by the cost of raw materials. Current lithium-ion battery packs are estimated to cost from around $175 to $300 per kilowatt-hour. (A typical midrange EV has a 60/kWh battery pack.) A number of commercial and academic researchers have projected that the costs of such batteries will reach $100/kWh by 2025 or before, which many proclaim is the "magic number" where EVs and gas-fueled vehicles reach retail price parity without subsidies. And they would continue to fall from there. But reaching the $100 threshold by 2030 would require material costs to remain flat for the next decade, during a period when global demand for lithium-ion batteries is expected to rise sharply, MIT's "Insights into Future Mobility" study notes. It projects that costs will likely fall only to $124 per kilowatt-hour by then. At that point, the "total cost of ownership" between the categories would be about the same, given the additional fuel and maintenance costs of gas-fueled vehicles. The price of an EV with 200 miles of range "would still run thousands of dollars more than a comparable gas-fueled vehicle in many areas," the report adds. "While closing the gap on total cost of ownership would be a solid step for electric vehicles, the average consumer is very sensitive to the upfront price tag -- and what it equates to in monthly payments."

Slashdot

Slashdot was originally created in September of 1997 by Rob "CmdrTaco" Malda. Today it is owned by Geeknet, Inc..

More About this Source Visit Slashdot