Techno-economic analysis of the adoption of electric vehicles

Significant advances in battery technology are creating a viable marketspace for battery powered passenger vehicles. Climate change and concerns over reliable supplies of hydrocarbons are aiding in the focus on electric vehicles. Consumers can be influenced by marketing and emotion resulting in behaviors that may not be in line with their stated objectives. Although sales of electric vehicles are accelerating, it may not be clear that purchasing an electric vehicle is advantageous from an economic or environmental perspective. A technoeconomic analysis of electric vehicles comparing them against hybrids, gasoline and diesel vehicles is presented. The results show that the complexity of electrical power supply, infrastructure requirements and full life cycle concerns show that electric vehicles have a place in the future but that ongoing improvements will be required for them to be clearly the best choice for a given situation.