In a recently released report titled “Leading the Charge: Why Electric Vehicle Demand Will Rise in a Post-pandemic World,” a BC Hydro survey found that approximately two-thirds of British Columbians are considering purchasing an electric vehicle. over the next few years; meanwhile, a majority plan to buy one in a year or two.
“Despite a global pandemic that has kept most British Columbians at home more than ever, electric vehicle sales in British Columbia accounted for nearly 10% of car sales in 2020 – the highest per capita rate in America of the North, ”the report notes.
Most potential electric vehicle owners told BC Hydro they wanted to make the switch to save money on gasoline and protect the environment.
The electric utility predicts that post-pandemic demand for some models will likely result in long waiting lists. Meanwhile, a shortage of electronic chips and lithium batteries is also expected to reduce global supply.
Solutions to overcome the “electric vehicle bottleneck”
Still looking to go electric? BC Hydro recommends the following solutions to avoid the bottleneck:
Register on several waiting lists
With popular models in high demand, the utility recommends preselecting multiple models, then signing up to multiple waitlists and preparing to be flexible.
Buy a second hand
Electricity is electric, and buying second-hand will always save you money on gas and help the planet.
Be persistent. EVs are chargeable
Remember that the switch from gas to electricity:
- Save 80% on fuel costs over one year and around $ 100 on maintenance costs.
- Gives you access to $ 3,000 in provincial rebates and up to $ 5,000 in federal rebates with the purchase of a new vehicle.
- Reduce your carbon footprint.
An electric tipping point
According to Werner Antweiler, professor of energy economics at UBC, switching from a gasoline car to an electric vehicle would cut your fuel bill to a fifth of the cost per mile.
For several years, government subsidies supported the extra cost of electric vehicles as start-ups like Tesla took off.
As technology has advanced, so have the business calculations of major automakers. A sign of the coming electric tide, in January, General Motors pledged to go all-electric by 2035.
In purely business terms, the tipping point when EVs reach cost parity with gasoline-powered cars occurs when batteries – by far the most expensive part of an EV – hit $ 100 per kilowatt hour of power ( think how much energy a 100-watt bulb would accumulate over 10 hours).
Antweiler predicts such parity over the next two years, which matches an annual battery price survey conducted in December by Bloomberg New Energy Finance, a group that provides insights and data on the transformation of the industry. energy. The survey found that last year, battery prices fell 13% to $ 137 / kWh, from $ 1,100 per kWh in 2010.
“Come to battery parity, we won’t need any subsidy,” says Antweiler.
“At a time when electric cars are cheaper than gasoline cars, it is obvious. We are getting to this point.
Metro Vancouver, like many urban centers, still faces serious market failures to make electric vehicles both fair and convenient. Among these, the expansion of a wider network of charging stations, whether on the edge of highways or in the underground car parks of multiple-dwelling buildings.
The BC Hydro report surveyed 800 British Columbians from May 17 to 19, 2021. It has a margin of error of +/- 3.5%, or 19 times out of 20.