AEE industry fact sheet reveals compelling commercial and public benefits of electrifying buses and trucks, as adoption begins to take off
WASHINGTON, D.C., July 17, 2019 – Today national business group Advanced Energy Economy released a fact sheet outlining the benefits that private and public fleet operators see in electric vehicles (EVs), and why they are beginning to incorporate them into their medium- and heavy-duty vehicle (MDV and HDV) portfolios. While much industry focus has been on the consumer auto and light-duty markets, new electric bus and truck models are gaining the attention of commercial, municipal, and state fleet operators for their cost and operational benefits.
AEE's Electrifying Medium- and Heavy-Duty Vehicles fact sheet presents an overview of the advantages of electric MDVs and HDVs, for both vehicle owners and the public, and can be downloaded here. (See below for photos of electric buses and trucks.)
"As commercial and industrial fleet operators, along with state and local governments, eye the long-term benefits of electric buses and trucks, we are seeing the beginning of significant adoption," said Matt Stanberry, managing director at national business group AEE. "Lower fuel and maintenance costs, significant operational capabilities, and quieter rides give electric buses and trucks a leg up for fleet owners, while offering air quality and economic benefits for the wider public. Electrification of segments of bus and truck transportation could come as fast as electric cars, if not faster.”
Fact sheet highlights include:
- Cost Savings for Fleet Operators. Potential for a lower total cost of ownership (TCO), which incorporates the purchase price and operating costs (maintenance and fuel), is a primary motivator for fleet operators considering electric options.
- Broad Market. Early adopters include state governments like Virginia, cities of Los Angeles and New York, and companies like Ikea, Walmart, and UPS demonstrate a broad market opportunity.
- Performance Benefits. With faster response than an internal combustion engine, electric drivetrains deliver instant torque, giving these vehicles exceptional ability to haul heavy loads at low speeds.
- Lower Emissions. The elimination of tailpipe emissions is important for both corporate and government customers that are striving to meet air quality, public health, and sustainability goals.
- Electricity Ratepayer and Grid Benefits. With smart charging, EVs can lower average electricity rates by spreading the existing sunk costs of the grid over additional electricity sales, as well as provide valuable grid management services.
- State Are Getting Charged Up About Electric Vehicles, May 2019 blog post on policy and procurement activity.
- EVs 101: A Regulatory Plan for America’s Electric Transportation Future, suggests seven steps state regulators should take to prepare for the EV surge, Sept. 2018 issue brief.
- Advanced Energy Now 2019 Market Report and Advanced Transportation blog post highlight surge in revenue led by 75% growth in plug-in EVs to $18 billion in 2018 (revenues) and 59% compound annual growth rate since 2011 with notable trends in fleet electrification.
- Photos with permission to use: BYD's city bus, refuse truck and semi-truck; Proterra's school bus and city/metro bus.
About Advanced Energy Economy
Advanced Energy Economy (AEE) is a national association of businesses that are making the energy we use secure, clean, and affordable. Advanced energy encompasses a broad range of products and services that constitute the best available technologies for meeting energy needs today and tomorrow. AEE’s mission is to transform public policy to enable rapid growth of advanced energy businesses. Engaged at the federal level and in more than a dozen states around the country, AEE represents more than 100 companies in the $238 billion U.S. advanced energy industry, which employs more than 3.5 million U.S. workers. Learn more at www.aee.net and follow the latest industry news @AEEnet.