Electric Vehicles Optimism versus the Energy Market Reality
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Catalin Vrabie: Faculty of Public Administration, National University of Political Studies and Public Administration, 012244 Bucharest, Romania
Sustainability, 2022, vol. 14, issue 9, 1-15
The promotion of new electric and hybrid vehicles is a worldwide strategy to reduce carbon emissions for a clean future environment in many countries. In Europe, development of the electric vehicle (EV) industry is a strategic direction of multiple car-producing companies, institutes, and governments, but how sustainable it is to shift fully to electric has yet to be seen. By making use of the statistic reports from the European Union, scientific literature, and mathematical calculation, the author wants to examine if what politicians see will be a matter of reality in the near future. It will be proved that, if all private transport become electric, energy consumption will increase to such a level that is impossible to be satisfied by the actual energy producing companies. While the EV industry is seen as an important step towards achieving environmental goals, and despite some positive assumptions made by few European Governments (e.g., Norway) according to which electrical cars will replace the fossil fuel ones in private transportation, the actual energy market trends are not able to support the demand for the next several decades. The author will focus on one European country, Romania, to provide it as a case study (Romania is a self-sustainable country with regard to energy production, producing roughly 124% of its needs.).
Keywords: energy market; electric vehicles; environment; electric vs. fossil; EV (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:14:y:2022:i:9:p:5388-:d:805853
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