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Illustration: Lazaro Gamio/Axios

The long-term costs of owning an electric car in the U.S. are thousands of dollars lower than gasoline-powered models, a detailed new study by Energy Department researchers finds.

Why it matters: The peer-reviewed paper in Joule adds to the literature on costs by providing a granular, state-level look at power rates (including hourly variations), charging infrastructure types, regional gasoline price differences and other variables.

The bottom line: The paper finds "total projected fuel cost savings between $3,000 and $10,500 compared with gasoline vehicles" over a 15-year time horizon. But the savings could be even higher.

"Regional heterogeneities and uncertainty on lifetime vehicle use and future fuel prices produce even greater variations," notes the analysis from researchers with the National Renewable Energy Laboratory and Idaho National Laboratory.

My thought bubble: While lifetime fuel costs may influence some buyers, it's the vehicle price that looms larger.

So reaching cost-parity and finding affordable models will likely do more to spur adoption than evidence of lower fuel expenses on a long-term basis.

The big picture: It comes as EVs, which typically have higher up-front costs, remain a niche market in the U.S.

  • But new models are coming to market and a victory by Joe Biden, who has pledged to promote EVs via tougher emissions rules and building our charging infrastructure, could quicken adoption.
  • Advocates are also pushing for expansion of tax credits for buying EVs, which are now capped at 2o0,000 vehicles per manufacturer for the full $7,500 credit.

Go deeper

Dion Rabouin, author of Markets
Sep 30, 2020 - Economy & Business

Why the real estate boom could keep going for years

Illustration: Aïda Amer/Axios

Even after reaching all-time high average prices and sales numbers not seen since the height of the 2000s boom, the housing market still has lots of room to run, experts say.

What's happening: There were fears in late 2019 and early this year that price levels had outpaced income growth and become unsustainable — but record-low mortgage rates and promises by the Fed to keep U.S. interest rates at zero through at least 2023 have lit a new fire under the market.

Updated 5 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: How data and the pandemic have democratized the "high-performance lifestyle — "Twindemic" averted as flu reports plummet amid coronavirus crisis
  2. Vaccine: Pfizer begins study on 3rd vaccine dose as booster shot against new strains — Republicans are least likely to want the coronavirus vaccine
  3. U.S. news: California surpasses 50,000 deaths COVID-19 deaths, more than any other state — Jimmy and Rosalynn Carter return to church after receiving COVID-19 vaccines
  4. Local: Public transit ridership in Twin Cities dropped 53% amid pandemic — Data firm predicts "complete chaos" in next phases of Florida's vaccine rolloutAlaska Gov. Mike Dunleavy tests positive for the coronavirus

Acting Capitol Police chief: Phone logs show Jan. 6 National Guard approval was delayed

Pittman at a congressional tribute for fallen officer Brian Sicknick. Photo: Erin Schaff-Pool/Getty Images

Acting U.S. Capitol Police chief Yogananda Pittman testified on Thursday that cellphone records show former USCP chief Steven Sund requested National Guard support from the House sergeant-at-arms as early as 12:58pm on Jan. 6, but he did not receive approval until over an hour later.

Why it matters: Sund and former House sergeant-at-arms Paul Irving clashed at a Senate hearing on Tuesday over a dispute in the timeline for when Capitol Police requested the National Guard during the Capitol insurrection.