Insights

DG+ Releases Q1 2023 EV Policy Report and Unveils Library of Market Research Reports

February 8, 2023

Total cost of ownership comparison finds that electric vehicles are cheaper to own and operate than gas-powered counterparts across all 50 states. Oregon ranks first in DG+ Scorecard rankings.

DG+Design (DG+), a marketing, creative, and research agency focused on clean energy and sustainable brands, is excited to announce the release of a new EV Policy Report for Q1 2023 that includes a state-by-state review of policies, incentives, and total cost of vehicle ownership. In addition, DG+ is proud to announce that all its market research reports are now available for free to the public in the new DG+ Library.

The new 2023 Q1 EV Policy Report provides data and analysis on federal and state incentives that are driving electric vehicle adoption. It then includes the DG+ State EV Scorecard that ranks each state by EV favorability, according to economic and policy drivers. This time, New Jersey ranked first, followed by California and Oregon.

There are now nearly 1.5 million registered electric vehicles across the United States, up from about 965,000 last year. Despite supply chain challenges as a result of COVID-19, EV adoption continues to grow, while charging networks expand in tandem. Thanks to increased spending from the federal government in the form of the National Electric Vehicle Infrastructure (NEVI) Program, in addition to both federal and state incentives, the US electric vehicle charging network grew almost 17%. In fact, the United States electric vehicle charging network now comprises 51,871 charging stations - 8,654 more than last year.

These national patterns are no fluke, as market trends and policy momentum have drastically improved the EV climate for consumers. As the cost of gas rose throughout 2022, so did the financial advantage of owning an EV. From Connecticut to California, EV drivers save money every month. With the support of the $7,500 credit from the Inflation Reduction Act, in addition to the myriad state and local incentives available to EV consumers, purchasing and owning an EV is becoming more and more economical every year.

The EV Policy Report also includes a proprietary total cost of ownership (TCO) model that derives EV savings from a variety of policy and economic factors. Using the Ford F-150 SuperCrew and the F-150 Lightning EV SuperCrew, DG+ compared ownership costs across all 50 states. DG+ found that it was cheaper to own the F-150 Lightning EV in every state. The highest savings occur in Oregon, where EV drivers save an estimated $239 every month over a five-year period. The lowest savings occur in Alaska, where drivers still save an estimated $51 per month.

Along with the 2023 Q1 EV Policy Report, DG+ is proud to announce its new library of free energy and cleantech-related content. The new DG+ Library includes thirteen market reports across solar, energy storage, and electric vehicle segments. Each includes information and analysis on current events, opportunities and challenges, policy summaries, pricing, and market share data.

DG+ will continue to offer its marketing and creative services to clients in the greater cleantech space as well as bespoke market research engagements. For more information on available market research reports, visit dgplusdesign.com/library.

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