One dramatic chart shows why electric cars are about to become mainstream
So when car companies are able to make batteries cheap enough to put electric vehicles (EV) on par cost-wise with gas ones, they'll finally have a chance to mainstream.Well, we're just about there.
EV batteries have dramatically dropped in price over the last five years, according to the United Nations-backed report, Global Trends in Renewable Energy Investment 2016, released March 24.In 2010, the global average was $1,000 per kWh. By last year, it had fallen to $350 per kWh.
You can see the incredible change in this chart from the report, with a dramatic drop in cost between 2014 and 2015:
You can see the effects these declines are having on electric cars coming to market today, too.
Aaron Brown/Tech Insider
In 2015, 462,000 people around the world bought electric cars, according to the report - up 59% from the year before.
If batteries keep decreasing in price at this rate, a report from Argonne National Laboratory predicts that electric cars will make up 58% of the light vehicle market by 2030. And by then, non-hybrid gas cars will comprise less than one-fourth of the market.Hopefully in the next decade or so we'll adopt even more renewable energy to charge these cars with, so they can displace even more carbon emissions than they already do.
- The decision not to have a kid is personal — but the social pressure against the choice is all-pervasive
- K'taka budget will focus on welfare of women & their development: CM
- Global consumer spending on apps to reach $270 billion annually by 2025
- Farmers announce series of Mahapanchayats in March
- Huawei aims to make electric cars later this year