Electric vehicles have made some substantial headway in the market, but still the amount on the street compared to gas powered vehicles is rather small, just a couple of percent at best. There are a few barriers to such a fantasy of driving an electric vehicle in the future. Let us address some of them.
1). Road Tax Subsidies: In many states Departments of Motor Vehicles give registration discounts for EVs, meaning additional car owners pay more, and a few states note they can’t take care of the reduction in earnings, so those tax breaks will soon disappear – removing incentives to purchase an EV, in a time when the EV market is beginning to take off.
2). Electricity Costs to Consumers: Consumers are currently being charged more for power as a result of mandates for alternative energy electrical grid power. During drought times hydro is diminished, and solar farms are usually put in regions far from the big metro users, meaning greater transmission lines are taking way to the desert costing tens of thousands of dollars + electricity is lost for each mile of transmission. The price of solar isn’t cheap, nor is the price of wind-energy. Although both are becoming more effective, many of those formerly built solar, wind farms need an adequate ROI and their prices were higher than the costs to construct new now. Higher electricity prices change the value and prices to consumers who bill their cars at home.
3). That customer opinion and perception is a PR problem to overcome for the EV business and will take the time to undo, thus hurting sales from the short-term.
4). Deficiency of Charging Stations: Proponents note that Tesla is working on this issue of EV charging stations – and yes, so that they are, great for them, but not everybody possesses a Tesla or can afford you. Since the price drops can Tesla still provide this? What about other buyers of smaller EVs, because if we need full-adoption men and women need charging stations so that they can go on excursions, not just driving. EVs limit consumer travel options, and because these vehicles are more expensive on average than regular cars, people will keep on buying what they are accustomed to. EV industry will have to sell a few millions of cars a year before full adoption is accomplished.
5). Time to Charge: Proponents say that the opportunity to bill EVS is coming down dramatically, yes, but the perception is not there in the minds of their customers yet. And, not all of electric cars are made equally nor do they have similar battery technology letting them charge faster. Being from juice and having to wait to push your car is exactly the same as being”stuck” and customers hate the notion of that.
As we talk, scientists, engineers and business professionals are working on such things, but there’s a ways to go, that means a good deal of upside yes, but still it is a long road ahead.