The Dallas-Fort Wort area is the top spot in Texas for battery-powered cars. According to a recent study, of the 100+ largest metro areas according to their electric-vehicle (EV) friendliness the DFW metro area is the nation's 15th electric car hotspot.
"The electric car market seems poised for growth, whether we’re talking about traditional or newer car-making companies looking to produce EVs," says Doug Ressler, Business Intelligence Manager at Yardi Matrix.
There are over 29K electric vehicles on the streets, which marks an impressive increase of 54% over the previous year. Overall, there are over 2.2 million electric cars cruising the nation. The cost of fueling EVs bodes well for Dallas, at $0.9 for every “eGallon,” much lower than the price of gas.
For those considering the switch, the metro area is picking up the pace in providing the right infrastructure to stimulate EV uptake. There are now 0.2 public charging stations per 1,000 households. Renters also have greater convenience these days, as nearly 4.5% of apartment buildings offer charging stations.
The charging network is also quickly expanding, with nationwide charging stations increasing by 58% in 2021 compared to 2020, per the U.S. Department of Energy’s Alternative Fuels Data Center.
Tax incentives signed into law in 2022 make buying an electric car much more likely for those on average incomes. As well, EVs are expected to reach price parity with conventional vehicles in 2023.
"The demand for electric cars continues to be high and government-backed incentives support both EV production and ownership. As a result, EVs are expected to grow in numbers, based on the findings from a Morgan Stanley research paper. By 2045, EVs are projected to dominate most of the car market. Moreover, by 2050, EVs could make up about 90% of the car market" said Ressler.
Will your next car be an EV?
