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Evaluating Electric Vehicle Policy Effectiveness and Equity

Author

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  • Tamara L. Sheldon

    (Department of Economics, University of South Carolina, Columbia, South Carolina, USA)

Abstract

In this article, I review the academic literature on the economics of plug-in electric vehicles (PEVs), with a focus on PEV policy, benefits, and equity. PEVs are one of the most promising technologies for decarbonizing the transportation sector. As such, many government policies exist to promote their adoption. Understanding the effectiveness and equity of existing policies, what the realized environmental benefits are, and how these benefits compare to costs is crucial to improving future PEV policy. This review suggests that consumer PEV subsidies are not cost-effective and are often expensive relative to estimated environmental benefits. Furthermore, higher-income households who make up a larger share of the PEV market receive both a disproportionate amount of government subsidies as well as PEV benefits. There is considerable room for policy improvement.

Suggested Citation

  • Tamara L. Sheldon, 2022. "Evaluating Electric Vehicle Policy Effectiveness and Equity," Annual Review of Resource Economics, Annual Reviews, vol. 14(1), pages 669-688, October.
    • Handle: RePEc:anr:reseco:v:14:y:2022:p:669-688
    DOI: 10.1146/annurev-resource-111820-022834
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    Citations

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    Cited by:

    1. Adekunle Mofolasayo, 2023. "Assessing and Managing the Direct and Indirect Emissions from Electric and Fossil-Powered Vehicles," Sustainability, MDPI, vol. 15(2), pages 1-33, January.
    2. Tong Zhang, Paul J. Burke, and Qi Wang, 2024. "Effectiveness of electric vehicle subsidies in China: A three-dimensional panel study," Departmental Working Papers 2024-1, The Australian National University, Arndt-Corden Department of Economics.
    3. Leslie A. Martin, 2022. "Driving on Sunbeams: Interactions Between Price Incentives for Electric Vehicles, Residential Solar Photovoltaics and Household Battery Systems," Economic Papers, The Economic Society of Australia, vol. 41(4), pages 369-384, December.
    4. Roy, Avipsa & Law, Mankin, 2022. "Examining spatial disparities in electric vehicle charging station placements using machine learning," SocArXiv hvw2t, Center for Open Science.
    5. Best, Rohan, 2023. "Equitable reverse auctions supporting household energy investments," Energy Policy, Elsevier, vol. 177(C).

    More about this item

    Keywords

    air pollution; cost-effectiveness; electric vehicles; equity; incentives; transportation policy;
    All these keywords.

    JEL classification:

    • H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy
    • Q52 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Pollution Control Adoption and Costs; Distributional Effects; Employment Effects
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy
    • R40 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - General

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