United States Department of Transportation
i
Economic Impacts of Electric Vehicle Infrastructure Expansion on Texas Metros
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2021-12-01
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[PDF-1.19 MB]
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Edition:Final, January 2021–December 2021
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Abstract:The electric vehicle (EV) market in the United States is rapidly expanding, and automotive manufacturers are constantly innovating to improve vehicle range and efficiency. This switch will require additional charging infrastructure to meet demand. Although charging infrastructure is a necessary investment, cost may pose a barrier to some metro areas. Policymakers and planners need an understanding of the benefits associated with this investment, especially economic benefits, to justify the investment and potentially leverage private funds. This research focused on creating a tool to present the economic benefits associated with investing in charging infrastructure, which could be easily used and edited to user preferences. The tool provides the user with a benefit-cost ratio as well as economic output depending on the inputs selected. Three scenarios highlight the potential application of the tool as well as options for supplementing with additional data or assumptions. Results from the scenarios indicate that investments in charging infrastructure will provide economic benefits to Texas metros, but placement and operation of stations should consider equity. Overall, the economic benefit tool aids the user in communicating the benefits of investing in EV charging infrastructure; as the EV market in the United States grows, planners and policymakers will need to establish the value of providing access to this infrastructure both to public and private investors.
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