Now let’s talk about climate, economy and humanity benefits from the switch to electric vehicles. As already mentioned, electrifying transportation is part of the clean energy and jobs picture. Transportation emissions are the biggest source of emissions in the US, and in Illinois. A new report by the Environmental Defense Fund finds:
- By 2030, the buyer of a new battery electric vehicle will save more than $7,200 over the life of the car compared to a gasoline-powered car. A new 2030 battery electric vehicle will also deliver nearly $8,000 in additional societal benefits as a result of reduced climate and particulate pollution, which will increase the total net benefits to more than $15,000 per vehicle.
- By 2040, these pollution safeguards will reduce annual climate pollution by 600 million metric tons and also significantly reduce smog and particulate pollution – dangerous substances that disproportionately burden people of color.
- The reductions in smog and particulate pollution will prevent as many as 5,000 premature deaths each year by 2040 – and a total of 98,000 lives saved by 2050.
- By 2050, these safeguards will deliver more than $100 billion in net societal benefits each year and provide $1.6 trillion in cumulative net benefits to Americans by 2050 – almost 10% of the U.S. gross domestic product.
—Environmental Defense Fund