As falling battery costs improve adoption, electric car models are anticipated to triple in the next 4 years

As falling battery costs improve adoption, electric car models are anticipated to triple in the next 4 years

As per Dan Bowermaster, who serves in the Electric Power Research Institutes (EPRI)  as the senior program manager in charge of electric transportation, the quantity of electric car models available to consumers is projected to increase more than three times in the next four years, from about 40 to around 127 in the U.S, as battery costs decrease, charging infrastructure expands and usage increases. The United States car fleet needs nearly 20 years to turn over, “hence this is not like that of an iPhone embrace,” Bowermaster added at a virtual seminar organized by the United States Department of Energy and EPRI on December 7.   In 33 states, there are currently 187 counties where Electric cars represent over 1.9% of new vehicle purchases, he added.

The decreasing price of batteries is the secret to speeding up adoption. At the conference, Department Of Energy officials said their investigation and expenditure is targeting $80/kWh for a car battery pack by the year 2030. Still, experts suggest more dramatic declines could be likely. 

The cost of batteries is a major consideration in how electric cars match up against internal combustion engines (ICE). Although costs are declining steadily, experts disagree about exactly the rate they should hit before the Electric Vehicles hit market parity. Michael Berube, who serves as the Department Of Energy’s acting deputy assistant secretary in charge of transportation, stated at the EV seminar that one of DOE’s ‘primary missions’ is advancing battery technology. The Department focuses on the essential materials used for the manufacturing of batteries, such as the processing capacities and supply chains required to produce them.

“Battery prices have been falling considerably,” Berube reported. But he said, “We have not reached the point where costs of batteries allow you to get an Electric Vehicle at cost parity with the Internal Combustion Engine across the board.” However, other Electric car experts say that emission-free cars are already comparable with their ICE counterparts in terms of cost.

EPRI reports that at the battery pack stage, which requires an integrated battery control system as well as thermal management, the expected cost per kWh for Electric vehicles is from $120/kWh to$200/kWh. The scope is wide as “different companies are at distinct stages of maturity with the products and production processes.” According to Haresh Kamath, the senior program manager at EPRI in charge of energy storage. Kamath said via email that the DOE’s target for battery pack prices of $80/kWh by the year 2030 is a realistic goal. “EPRI reports that “about $55/kWh would become an ambitious figure, and $100/kWh would be nearer to a realistic estimate,” he added.

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