Are Electric Cars Paying Off Faster Than Expected?

To answer the question in the headline: Yes, they are. At least according to latest research published by the The International Council on Clean Transportation. This research constitutes the most comprehensive and up-to-date research on the topic.

The key number to remember is “4”. According to the ICCT research, European battery-powered electric cars (BEVs) emit nearly four times less greenhouse gases over their lifetime than gasoline cars. It’s important to underline that the study evaluated the whole BEV life-cycle.

It also shows that the ecological advantage comes to effect faster than reported in earlier studies. The key reason for this fast return is the fast deployment of renewable electricity across Europe and the greater energy efficiency of BEVs. This year, renewable energy sources are expected to account for 56% of electricity generation in Europe, an 18-point increase compared with 2020.

It’s projected that this share will increase further in the next decade. Since cars typically remain on the road for about 20 years, continued improvement of the electricity mix will only widen the climate benefits of battery electric cars.

These are important findings. In the past, there have been many voices saying that even though BEVs may be green while driving, their production, supply chains, and other factors would outweigh these advantages.

In summary this means: Today’s BEVs, available at attractive price points, with access to an ever-increasing charging infrastructure across the continent are making a real difference when it comes to achieving our climate goals.