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Analysis finds annual running cost of EVs less than ICE; but with purchase price factored in, it flips

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Self Financial, a fintech company, has compared the running costs of electric and non-electric vehicles in each state. Across the US the average annual cost of running an electric vehicle is $2,721.96, while gasoline vehicles cost an average of $3,355.90 per year to run—a difference of $633.94

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Argonne study finds BEVs can have lowest scheduled maintenance costs, but highest cost of driving

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Researchers at Argonne National Laboratory, with colleagues from Lawrence Berkeley, Oak Ridge, and National Renewable Energy labs, and the University of Tennessee, have published a comprehensive analysis of the total cost of ownership (TCO) for 12 sizes of vehicles ranging from compact sedans up to Class 8 tractors with sleeper cabs.

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Benchmark: lithium prices continue to rise

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Lithium prices continued to rise in November, with Chinese battery-grade prices surpassing the RMB 200,000/tonne (US$31,395/tonne) mark, according to Benchmark’s Lithium Price Assessment. Source: Benchmark Mineral Intelligence.

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NREL report finds electrified heavy-duty vehicle powertrains could provide lower total cost of ownership than diesel under certain conditions

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A new total cost of ownership (TCO) study from the National Renewable Energy Laboratory (NREL) finds that battery-electric and fuel-cell electric commercial trucks could be economically competitive with conventional diesel trucks by 2025 in some operating scenarios. —Chad Hunter, lead author of the report and former NREL researcher.

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EIA expects significant increases in US wholesale electricity prices this summer

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The US Energy Information Administration (EIA) forecasts that prices in US wholesale electricity markets this summer will significantly increase over last summer’s prices. EIA forecasts summer electricity prices will average $98/MWh in California’s CAISO market and $90/MWh in the ERCOT market in Texas. MMBtu in May 2021.

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Large differences among the recent increases in the cost of powering gasoline, diesel, and electric vehicles

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This post examines the recent changes in the costs of powering gasoline, diesel, and electric vehicles. The expectation was that the cost of electricity had recently increased much less than the costs of gasoline and diesel. The table below shows all available average monthly prices for 2022. Month (2022). Electricity. $/g.

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IHS Markit: average cost of lithium-ion battery cell to fall below $100/kWh in 2023

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The average cost of a Li-ion battery cell—used to power electric vehicles and to provide flexibility in the power grid as more renewables, such as solar and wind, are added will fall below $100 per kilowatt hour (kWh) in the next three years, according to a new analysis by IHS Markit. Cost is the name of the game.