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Forbes Energy

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Cheap Batteries Could Soon Make Electric Freight Trucks 50% Cheaper To Own Than Diesel

Energy Innovation: Policy and Technology We are a nonpartisan climate policy think tank helping policymakers make informed energy policy choices and accelerate clean energy by supporting the policies that most effectively reduce greenhouse gas emissions. Silvio Marcacci Energy Communications Director Heavy-duty trucks are an outsized polluter, considered one of transportation’s hardest-to-decarbonize aspects. But new research showing dramatic improvements in battery cost and technology mean zero-emission freight trucks are primed for electrification. This could bring a major clean energy success in the coming decade. The total cost of ownership for electric freight trucks could be 50% cheaper than for diesel trucks by 2030, generating billions in savings. Plunging costs, ever-increasing battery range, and an expanding fast charging network are creating an on-ramp to an electrified trucking future. Hybrid electric truck being charging at charging station Hybrid electric truck being charging at charging station. Image via Chesky_W/Getty Images. CHESKY_W/GETTY While cheaper ownership costs and massive emissions reduction potential enable shifting to electric trucks, smart policies are still needed to help this nascent industry deliver the goods. Billions in potential savings from electric freight trucks Research from Lawrence Berkeley National Lab, University of California-Los Angeles, and University of California- Berkeley, shows that the push to electrify heavy-duty trucks can capitalize on fast-falling battery pack prices, which have plummeted more than 85% in a decade and are expected to continue declining. This cost trend is the primary reason battery electric technology currently has an edge over the other leading zero-emission option, hydrogen fuel cell trucks, which lack extensive re-fueling infrastructure and face other challenges to widescale adoption. Neither option is widely available today, but truck manufacturers like Tesla TSLA +0.3%, Volvo, Scania, and Kenworth are all launching electric models, meaning electric trucks are en route to U.S. roads. “This exciting new potential for heavy-duty truck electrification offers significant economic and environmental benefits, and is emerging much faster than commonly believed,” said Dr. Amol Phadke of Lawrence Berkeley National Laboratory. “The observed decline in battery costs has been more dramatic than what was forecast just a couple years ago.” energyinnovation.org

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  • Muhammad Fahd Khan

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    208 w

    Fossil fuels are destined to be a thing of past. The 'dinosaur mindset' should know it. Better to think of clean energy businesses!

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