Windfall Centre has released its in-depth study of the economic impact of Electric Vehicle (EV) adoption in Ontario. The yearlong research project, dispels myths and fills a significant knowledge gap on the impacts of what could well be a transformative shift in personal transportation in the 21st century. If EVs reach a 10% share of the total passenger vehicle population by 2025, Ontario can expect total income to increase by over $3.6 Billion with 34,000 person years of work created.
Electric vehicles are shown to realize large energy savings and realize many industrial gains but may also cause some disruptions and substitutions in the economy. The net effects, however, are almost all positive. In particular the study demonstrates the following: