Full Title: The Future of the Trucking Industry: Electric Semi-Trucks
Author(s): Shreya Agrawal
Publisher(s): Environmental and Energy Study Institute
Publication Date: May 11, 2023
Full Text: Download Resource
Description (excerpt):
The trucking industry is a critical part of the economy, transporting 71.6 percent of U.S. goods totaling $10.4 trillion. But trucks are also a significant source of pollution, having emitted seven percent of U.S. greenhouse gas (GHG) emissions in 2020. Electric trucks can reduce GHG emissions while also providing other benefits, including better safety and improved public health. Major fleets have committed to transitioning at least 30% of their new heavy-duty truck purchases to be zero-emission vehicles, including electric models, by 2030. But many companies are daunted by the extra upfront cost of electric trucks, as well as challenges like the limited availability of chargers. The Inflation Reduction Act (IRA) and Infrastructure Investment and Jobs Act (IIJA) will help address these challenges, and bring forward the cost parity of electric and diesel trucks. The benefits of electric trucks, increased availability of more makes and models, investments in charging infrastructure, the rapid improvement of the upfront and long-term economics, and policy incentives all point to a near-term boom in their adoption. This fact sheet will focus on electric semi-trucks, although many of its findings apply to electric trucks in general.