One Shining Moment, Part 2 - Price Trends Could Pave the Way to Greater EV Adoption, or Obstruct It

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Electric vehicles (EVs) in the U.S. may be at a turning point, with high gasoline prices prompting would-be car buyers to give them a second look — or a first look, in many cases. EV adoption has been slow to pick up speed in the U.S. for a variety of reasons, including the lack of a nationwide charging network and concerns about “range anxiety.” But a major factor has always been that gasoline-fueled cars have been cheaper to purchase and operate than EVs. The recent run-up in gasoline prices, amplified by Russia’s invasion of Ukraine, has changed the math in those comparisons, at least in the short-term. Is the pace of EV adoption about to accelerate, or will trends in gasoline and electric power prices put the transition into cruise control, or even neutral? In today’s RBN blog, we look at how forecasts for power and gasoline prices might shape the conversations around EVs through 2030.

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