View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Sectors
  2. Transport
22 April 2021updated 05 Nov 2021 9:28am

All-electric car and truck sales by 2035 would save US consumers $2.7trn

A transition to all-electric cars and trucks by 2035 would save US households $2.7trn between now and 2050, say researchers from the University of California, Berkeley, Energy Innovation and GridLab.

By Energy Monitor Staff

A transition to all-electric cars and trucks by 2035 would save US households trillions of dollars by 2050, concludes a report from researchers at the University of California, Berkeley, Energy Innovation and GridLab.

Free Report
img

Battery energy storage will be the key to energy transition – find out how

The market for battery energy storage is estimated to grow to $10.84bn in 2026. The fall in battery technology prices and the increasing need for grid stability are just two reasons GlobalData have predicted for this growth, with the integration of renewable power holding significant sway over the power market. Over the last decade, various new digital and smart technologies have been integrated, with countries aggressively promoting the modernization of grids, enhancing the grids’ capability to meet present and future requirements. As part of the effort, batteries are being deployed for a wide range of uses. A few such uses include aiding smart grids, integrating renewables, and creating responsive electricity markets. Read this report for expert insights into:
  • Market size and growth
  • Key drivers and restraints
  • Regional trends
  • The impact of the commodity price increase on the battery prices
Get ahead of this growing market and win big by utilizing our report.
by GlobalData
Enter your details here to receive your free Report.

Combining 100% all-electric car and truck sales by 2035 with a 90% carbon-free power grid would save US consumers $2.7trn between now and 2050, or $1,000 a household a year, say the researchers. The transition would also create two million jobs in 2035 and reduce economy-wide greenhouse gas emissions by 45% by 2030.

BMW-charging-plug

The charging plug of a BMW at the 2020 Brussels Motor Show. (Photo by Kenzo Tribouillard/AFP via Getty Images)

However, making that transition will require new policies to boost electric vehicle (EV) adoption. Among the measures recommended in the report are strong national vehicle fuel economy and emissions standards, targeted consumer incentives, and investments in an expanded nationwide EV charging network.

Free Report
img

Battery energy storage will be the key to energy transition – find out how

The market for battery energy storage is estimated to grow to $10.84bn in 2026. The fall in battery technology prices and the increasing need for grid stability are just two reasons GlobalData have predicted for this growth, with the integration of renewable power holding significant sway over the power market. Over the last decade, various new digital and smart technologies have been integrated, with countries aggressively promoting the modernization of grids, enhancing the grids’ capability to meet present and future requirements. As part of the effort, batteries are being deployed for a wide range of uses. A few such uses include aiding smart grids, integrating renewables, and creating responsive electricity markets. Read this report for expert insights into:
  • Market size and growth
  • Key drivers and restraints
  • Regional trends
  • The impact of the commodity price increase on the battery prices
Get ahead of this growing market and win big by utilizing our report.
by GlobalData
Enter your details here to receive your free Report.

Topics in this article: ,
NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. Keep up with the global energy transition with one of our editors bringing you the best of our data-led news and analysis every Monday and Thursday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Energy Monitor