Authors: Rajeev Goswami; Gireesh Chandra Tripathi
Addresses: NTPC School of Business, Plot No. 5-14, Sector 16-A, Noida – 201301, India ' NTPC School of Business, Plot No. 5-14, Sector 16-A, Noida – 201301, India
Abstract: Worldwide, reducing vehicular emission is a cumbersome task to save our planet from climate change. The introduction of electric vehicles could be one of the approaches to reduce the emissions. In this paper, various factors of total cost of ownership of conventional and electric cars from both financial and environmental perspectives are studied. To equalise the cost drivers of vehicles with diverse lives, equivalent annual annuity (EAA) procedure was used to show that the total cost of ownership of an electric car is more economical than that of the fossil-fuelled ones. Additionally, electric car was found to be more environmentally benign than the conventional cars, even if EV is energised with electricity generated from coal-based thermal power plants. Therefore, this research would encourage promoting EVs for fast adoption for the societal benefits and helping government to frame its e-mobility-related policies.
Keywords: electric vehicles; air pollution; environment; emissions; ownership cost; energy efficiency; government incentives.
International Journal of Electric and Hybrid Vehicles, 2018 Vol.10 No.4, pp.334 - 346
Received: 29 May 2018
Accepted: 14 Aug 2018
Published online: 27 Feb 2019 *