What Will Trigger You to Invest in an Electric Vehicle?
You might have found yourself in a discussion about what will be the trigger to invest in an electric vehicle (EV). Will it be:
- The reduced cost of electric vehicles
- The increased price of gas
- Ever expanding EV selections
- The prolonged life in battery charge
- Or increased access to electric vehicle charging networks
What’s your tipping point?
BC is becoming increasingly conscious of its consumption and carbon footprint. They are rapidly switching to clean, green, energy, and cleaner transportation as part of the CleanBC plan and the mission to transition Canada to zero-emissions vehicles by 2040. According to BC Gov News, BC has one of Canada’s highest percentages of registered electric vehicles. They went from 5000 light-duty electric vehicles in 2016 to having more than 100,000 EVs on the road today. In 2022, EVs made up 18.1% of new light-duty passenger vehicles sold, which was the highest percentage of EVs for any province or territory in Canada, and there has been an increase in sales of more than 1,900% in the past six years.
As all these changes converge, it increases EV demand. In order to meet demand, more charging stations must be installed. $26 million has been added to 2022’s year-end budget funding for BC’s public charger program. This will reduce the bottleneck effect of a higher EV-to-charging station ratio and ease buyers’ concerns about limited charging stations. These EV charging stations will be placed all over BC, which will help reduce range anxiety (will I make it to the next EV charging station?).
Thankfully, for the average household, the cost of electric vehicles is slowly dropping to make purchasing an EV more affordable. Daniel Breton, CEO of Electric Mobility Canada, stated that the downturn of lithium prices could be good news for consumers. As the cost of critical minerals falls, Breton says that we will see more and more electric vehicles selling for $25,000 – $40,000, making it easier for households to invest in greener, cleaner vehicles. Along with the reduced cost of EVs, automakers are adding more EV models to their lineups, which can be expected to be seen in the near future.
The Electrical Joint Training Committee (EJTC) continuously grows its presence in the renewable energy sector. Their most recent contribution to the renewable energy sector was the installation of a DC fast charger (electric vehicle charging station) at their already energy-efficient electrical training center in the Port Coquitlam area.
With the increase in light-duty electric vehicles now registered in BC, what better time than now to install a DC fast charger for the public that can charge an electric vehicle in 20-45 minutes, depending on battery size, allowing drivers to add range quickly and reduce range anxiety. This high-speed EV charger supports and encourages EV drivers and post-pandemic travelers with a quick and reliable place to charge up.
With the increase in BC’s electrical charging stations, the variety of EVs, decreased costs, and reduced range anxiety, we look forward to a brighter future with more electric vehicles and a cleaner, greener world.
So, when will you add a low-cost electric vehicle to your garage?
Written by: Savannah Davis, ClearWater Communications Co.