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Title Development of the US electric car market: macroeconomic determinants and forecasts
Authors Sotnyk, Iryna Mykolaivna  
Hulak, D.
Yakushev, O.
Prokopenko, Olha Volodymyrivna
Yevdokymov, Andrii Valeriiovych
Keywords development policy
electromobility
transport sector modeling
forecast
market
Type Article
Date of Issue 2020
URI https://essuir.sumdu.edu.ua/handle/123456789/82713
Publisher Instytut Gospodarki Surowcami Mineralnymi i Energią Polskiej Akademii Nauk
License Creative Commons Attribution 4.0 International License
Citation Sotnyk, I., Hulak, D., Yakushev, O., Yakusheva, O., Prokopenko, O. V., Yevdokymov, A. (2020). Development of the US electric car market: macroeconomic determinants and forecasts. Polityka Energetyczna – Energy Policy Journal, 23(3), 147-164. https://doi.org/10.33223/epj/127921
Abstract Сan be explained by the small share of electric cars in the US market. The formed multifactor linear model showed a positive impact of both the country’s GDP growth and electricity consumption increase on the number of electric vehicles sold. However, the rise in household incomes negatively influences market development due to insufficient consumer awareness of the electric transport operation benefits, an underdeveloped network of electric vehicle charging stations, etc. Based on the obtained multifactor model, the authors have built optimistic, optimal and pessimistic scenarios for the US electric vehicle market deployment for the next five years. In order to implement the most favorable scenarios, recommendations for market development factors’ management have been made. The results of the study can be used to improve public policy in the US transport and energy sectors, as well as in other countries to optimize the fuel and energy balance, strengthen the energy independence of states by developing clean transport and adapting the model to national specifics.
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