A new study shows that drivers of electric cars are saving everyone billions of dollars on their monthly electricity bills — even the people who don’t drive EVs!
A recent report by a group called Synapse Energy Economics examined how much electric car owners paid for electricity and compared that with the cost for utilities to build, generate, and distribute that electricity. What it found was that, in aggregate, EV drivers provided more than $3 billion in net revenue to the grid between 2011 and 2021.
Rapid growth in electric vehicle (EV) adoption has raised the question of how EVs affect the electricity rates paid by all households, including those that do not own EVs. To answer this question, Synapse compared the electric utility revenues from EV charging with utility costs associated with…