Pressures at the pump are hitting many Americans in the pocketbook, some regions and cities more than others, and some families, individuals or small and large businesses may be contemplating purchasing their first electric car. Thinking with a sustainability mindset doesn’t always require jumping in that EV or even that new car.
It’s all about lifestyle, economics and the environmental impact that should be considered when deciding to run out and purchase any vehicle–when thinking about sustainability. Many that live in the sustainability world might recognize this in more complex terms like the triple bottom line, or similar, but for the purposes of this article thinking about the purchase in these terms can not only help the pocketbook but also be plain good management of balance.
Lifestyle, economics and the environment
Some of the first questions to ask surround identifying the purpose of having a car. This could be short trips, long-distance travel, or maybe for someone that works from home and rarely walks out the door. Of course, there are small families and large families. The factors go on and on. Once this is all calculated, the type of car or truck necessary for an individual or family becomes clearer. Looking at every car on the planet will be a bit beyond this article, but subjectivity is something that lives in all of us, including in the world of sustainability.
The last thoughts on figuring out what is necessary then comes down to what is feasible, and even what is really needed: Remember, this is thinking sustainably, but what an individual wants can also become a factor as well (the subjectivity of it all). I know, it can be confusing, but these next lines will bring it all into focus.
Price is a major factor for most people. To focus there, the typical EV has run a bit higher than most internal combustion engine vehicles. Even with incentives, some are priced out of the market. Unfortunately, even with rising gas prices, the cost is a barrier. But one element has been on the rise as of late: That’s inflation, which has been taking prices up for all vehicle types, and all fuel types, giving some pause to check out electrics. The used market for EVs has been growing over the years as more and more electric enter the roadways.
It’s all about needs, but also wants. If a family of three is looking for a vehicle, and they don’t need their vehicle to haul around equipment for work, a conscious choice can be made to purchase a small EV and potentially save some money over time. But that’s where subjectivity might set in. Here, we have a dilemma of choosing the environment over wants and needs and choosing a vehicle that will likely cost someone less over time. It could be that EV, but it might be a used truck or staying in your current vehicle. An example is purchasing a $50,000 EV that someone drives 20 miles to work per week. The economics might not fit in this situation, but neither would purchasing a large SUV for the same cost.
Adding into the mix of sustainability, a factor of risk can also be taken into account. There is a risk that at some point in the future the U.S., as has the European Union, might take on to phasing out gas cars all together. Then, as EVs have barriers to infrastructure now, this could become a factor for owners of gas-powered vehicles seeking fossil fuels. Thoughts on the EU’s move and the effects this will have on the oil market are worth putting some time pondering.
Other thoughts on risk might also include that supply shocks could raise crude oil even higher, and dwindling supplies will also become a factor. Yes, on the policy front, it’s a little more of a rollercoaster. But one statement is true: Most car companies are moving toward an electric future. That, though the road might be a little rocky, will lead to price reductions.
On the last front, external costs to purchasing a gas-powered vehicle, such as higher emissions during the use stage than EVs, are also part of the sustainability complex. Most individuals or families may not consider this, but if thinking sustainably if something a perspective car buyer is wanting to use, this is a part of that decision-making process.
Infrastructure issues do exist for EVs, but that is changing. The well-to-wheel emissions levels do exist in that the vehicle does have to be produced. But the future can be more sustainable in that chargers will be backed by renewable technologies or even the production chains for EVs can become greener. This can and will likely occur over time. But it’s still a market in the making.
The Thinking About Sustainability Series explores sustainability strategies, bringing coverage to the forefront of the transitioning world of business and society.