Long-Term Economic Benefits of Investing in Electric Vehicle Infrastructure Compared to Hybrid Vehicle Support Systems

Long-Term Economic Benefits of Investing in Electric Vehicle Infrastructure Compared to Hybrid Vehicle Support Systems

Saketh Varma, Aadi Rohan

DRS international school

Abstract

This study investigates the long-term economic benefits of investing in electric vehicle (EV) infrastructure compared to hybrid vehicle support systems. As sustainability becomes a global priority, understanding the financial implications of these investments is crucial for policymakers and stakeholders. The research evaluates the impact of EV infrastructure on energy consumption, maintenance costs, and job creation. The hypothesis posits that EV investments yield greater economic benefits due to lower operational costs. A comparative analysis reveals that the total cost of ownership for EVs is approximately 30% lower than for hybrids. Additionally, EV infrastructure generates about 1.5 times more jobs per million dollars spent. The study highlights significant environmental advantages, with potential reductions in greenhouse gas emissions up to 50%. These results underscore the importance of prioritizing EV infrastructure in transportation policies. Ultimately, strategic investments in EV infrastructure can promote economic growth and environmental sustainability.

Keywords: Electric Vehicles, Hybrid Vehicles, Infrastructure Investment, Economic Benefits, Sustainability