KHIT 147: Electric Vehicles: Analysis of Revenue Issues and Charging Station Implementation Plans

Grants and Contracts Details

Description

Abstract KHIT 147, Electric Vehicles: Analysis of Revenue Issues and Charging Station Implementation Plans The demand for electric vehicles (EVs) is increasing rapidly. For example, General Motors hopes to grow annual EV revenue from $10 billion in 2023 to $90 billion in 2030. Ford anticipates that EVs will make up 40 percent of its vehicle sales by 2030 with the company recently announced a $5.8 billion investment in Kentucky to build the BlueOval SK Battery Park. Given that the momentum behind EV adoption poised to gain more steam in the coming years, the Kentucky Transportation Cabinet (KYTC) must address two critical issues. First, because EVs do not use gasoline vehicle owners do not pay gas taxes. The Cabinet relies on this revenue to build and maintain the state’s roads and bridges. Revenue losses will diminish KYTC’s ability to deliver projects and preserve its infrastructure assets. Second, as more people buy EVs, they will demand access to secure and convenient charging stations. It is critical for Kentucky to establish plans for a statewide charging station network motorists can depend on to power their EVs. Analyzing strategies KYTC can adopt in response to the proliferation of EVs will help the agency thrive as the transportation industry undergoes a profound transformation. OBJECTIVES • Identify states that have developed or are in the process of developing plans to build EV charging station networks. • Identify stakeholders in each state that helped develop these plans and are leading implementation (e.g., departments of transportation, energy, or environment; consultants; private sector partners). • Identify states which have formed public-private partnerships to build EV charging station networks. • Determine the costs associated with implementing EV charging station networks. • Identify strategies states have adopted or can use to protect revenue streams as EV adoption grows (e.g., taxing EVs). • Analyze the market penetration of EVs and hybrid vehicles in Kentucky. Develop revenue forecasts to estimate impacts of their more widespread adoption.
StatusFinished
Effective start/end date12/1/216/30/22

Funding

  • KY Transportation Cabinet: $65,069.00

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