Study highlights Miami as a suitable city for EVs
In Florida, The Capitolist reported that a recently academic study published by the Journal of Industrial Ecology, highlights Miami’s suitability for electric vehicles, citing economic and climatic advantages that could save residents up to $26,000. Utilizing a comprehensive total cost of ownership (TCO) model, the study examined various factors such as purchase price, financing, taxes, insurance, maintenance, and the costs of refueling and home charging for EVs. Due to its economic and climatic conditions, the study’s findings indicate Miami as an especially suitable environment for EVs. The research highlights potential savings for Miami residents, estimating an average of $10,000, which could rise to $26,000 under certain conditions. The savings are attributed to Miami’s electricity costs and climate, which favor efficient EV operation and charging. “EVs are more competitive in cities with high gasoline prices, low electricity prices, moderate climates, and direct purchase incentives, and for users with home charging access, time-of-use electricity pricing, and high annual mileage,” reads the publication’s findings.
