Electric vehicles (EVs) have the potential to provide significant economic benefits to Australians. One of the main reasons for this is the fact that Australia is heavily reliant on imported fossil fuels, particularly oil. In 2019, Australia imported around two-thirds of its total oil consumption, at a cost of around $24 billion. This reliance on imported oil leaves the country vulnerable to price fluctuations and supply disruptions, which can have a negative impact on the economy.
By switching to EVs, Australia has the opportunity to reduce its reliance on imported fossil fuels and instead generate more of its own energy locally. Australia has abundant renewable energy resources, including solar and wind power, which can be used to charge EVs. In fact, the country has the potential to generate enough renewable energy to power the entire transportation sector.
Not only would this help to reduce Australia's reliance on imported fossil fuels, it would also create new economic opportunities. The development and construction of new renewable energy projects would create jobs, and the increased demand for EVs would create new opportunities in the manufacturing and maintenance sectors.
In addition to the economic benefits, the adoption of EVs would also have environmental benefits. Transportation is a major source of greenhouse gas emissions, and switching to EVs would help to reduce these emissions and combat climate change. This would not only benefit the environment, but it would also help to improve public health by reducing air pollution.
Overall, the adoption of EVs has the potential to provide significant economic and environmental benefits to Australians. By reducing the country's reliance on imported fossil fuels and increasing the use of domestic renewable energy sources, we can create new jobs, improve energy security, and reduce greenhouse gas emissions.