Electrification costs must decrease for electric vehicles (EV) to have real advantages in the transportation market.
Although EV Buses and Truck Fleets are increasingly approaching cost parity with their fossil-fueled counterparts, a new report by the Environmental Defense Fund (EDF) found electrification costs are still a problem.
EDF’s new report found electrification costs in the U.S. are still a problem for EV Buses and Truck Fleets. Despite these vehicles’ advantages regarding long-run expenses and reduction in emissions, deployments in electrification are needed.
Bottlenecks and unexpected costs in charging infrastructure, along with maintenance, permitting, and financing problems, represent considerable challenges to address by EV bus fleets.
For these reasons, in the report “FINANCING THE TRANSITION: UNLOCKING CAPITAL TO ELECTRIFY TRUCK AND BUS FLEETS,” also sponsored by EDF, MJ Bradley and Vivid Economics, experts recommend EV companies to solve this electrifications costs equation to push EV trucks and buses in the coming decades.
According to the report, through this action, EVs could become more mainstream and acquirable in the near future.
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Despite the increasing investments in sustainability, the EV medium- and the heavy-duty sector still faces a lack of development in charging infrastructure deployment.
In that regard, an EDF representative said GTM such a development will be heavily needed shortly as some companies like Amazon, FedEx, or Pepsi, are already plotting millions on electric trucks fleets.
Furthermore, several cities in the U.S. aim to be carbon neutral by 2050 and have set aggressive zero-emissions goals for bus fleets. Among those cities are: Los Angeles, Seattle, Houston, and New York.
Also, experts believe infrastructure is not the only challenge to address in this regard. In their perspective, drivers and mechanics training will also be needed to ensure the efficiency of electrification infrastructure.
Common problems for EV bus and truck fleets
Several electrification projects for bus fleets in the U.S. have experienced unexpected challenges. For instance, some refer to cost, others to maintenance problems, and several others to engineering and designing issues.
Some companies are seizing opportunities in designing and engineering to address long-term needs in the EV market regarding charging infrastructure. Companies can solve problems with anticipation through a robust design, having cohesive and reliable infrastructure structures.
Experts recommended relying on state green banks and utilities for low-cost finance resources. According to the report, several companies are now investing billions in grid infrastructure to support EV charging.
Besides, utilities provide incentives for EV purchases to their employees and make arrangements to turn their vehicles fleet into electric.