Electric vehicle drivers in the U.S. are saving the nation billions of dollars on their monthly electric bills, a new study shows.
In a recent reports a group called Synapse Energy Economics reported that, in total, electric vehicle drivers will provide the grid with more than $3 billion in net revenue between 2011 and 2021.
The rapid growth in EV adoption has raised questions about how EVs affect the electricity tariffs paid by all households, including those that do not own EVs. To answer this question, Synapse compared grid service companies' revenues from EV charging with the utility costs associated with EV load maintenance, including the costs of EV utility programs.
The results show that since 2011, electric vehicles have generated much more revenue for service companies than costs. Thus, according to experts, electric cars have helped to freeze or even lower electricity prices in some cities and states.
This pressure on utility rates will only increase as more electric vehicles hit the road and more low-cost renewable energy enters the grid. The net effect is that the cost of electricity will decrease for everyone, while EVs improve air quality and reduce respiratory disease among children, the elderly, and other vulnerable populations.