Quantifying the Societal Benefits of Electric Vehicles

One of the barriers facing the electric vehicle market is the incremental cost of the vehicles. However, many of the benefits of electric vehicles are not well understood and are omitted from cost-benefit analyses. These benefits relate to human health, air quality and the environment, economic growth, and grid resilience. VEIC conducted a study to identify the broad range of benefits that electric vehicles provide and, where sufficient data exists, developed estimates to quantify these benefits. Assessing the value of these benefits provides guidance for policy-makers to determine incentive and investment levels that accurately reflect the full value of electric vehicles to society.