<br> In the HWOP scenario, the stock of cars is expedited due to the relatively large gas price marginal rates of change estimated in the first few years of simulations. Although it is intuitively expected with rising gas prices that LT percentages of vehicle stock would immediately fall, agents with higher aversion to DGC are seeking higher MPG LTs as well as alternative, non-ICE vehicles which meet these standards. Although gasoline prices have increased greatly over the past few years, the growing extraction rates of unconventional sources of petroleum in the Bakken tight shale formation and Canadian oil sands have dramatically altered the perceptions of the future in the North American petroleum market. Whether it is determining the reason behind falling market shares of US automobile manufacturers (Train and Winston 2007), examining the effects of time series variation in gasoline price expectations on the prices and shares of vehicle with different fuel economy ratings (Allcott and Wozny 2010), or gauging whether a consumer will lease or buy a vehicle (Dasgupta, Siddarth, and Silva-Risso 2007), vehicle choice models have been used for a variety of different applications and purposes. Performing this task would provide an interesting and valuable analysis but is outside current time and resource availability.<br>
<br> Storage duration increasing over time • The average storage duration has increased by almost 2.5 hours over the past decade, increasing from 1 hour in 2012 to 3.46 hours in the first quarter of 2022. • Projects in the pipeline have an average storage duration of 3.34 and 3.52 hours for projects under construction and in advanced development, respectively. The 2024 Honda Prologue electric SUV is coming next year, and Honda provided a first look-measurements and all-at this upcoming model, which will land between the brand’s Passport and Pilot gasoline SUVs. If multiple explanatory variables solely provided an increase in the log-likelihood value, the explanatory variable with the greatest marginal contribution towards the log-likelihood function was introduced as the first log-normally distributed explanatory variable. 6.1Results from this analysis are highly variable depending on model specifications with the underlying core parameters having the highest influence on resultant scenarios. Since the range of the vehicle is a serious consideration for buyers, scenarios are implemented which reduce the agents’ range of each BEV and PHEV model by different specifications. 8.15Since battery depreciation and costs are a barrier to consumer adoption of EVs (Morales-Espana 2010), the price of EVs is adjusted annually to the rate of change, by vehicle class (car and light truck) and BEV/PHEV designation, according to the schedule estimated by the UK Commission on Climate Change’s (CCC) report regarding future battery specifications (UK CCC 2012). These data are manufacturer prices and thus an assumed markup of 10% is included.<br>
<br> In the most optimistic scenario, the EVs as a percentage of vehicle stock nearly match but slightly exceed the AEO 2012’s estimate of AFVs as vehicle stock in 2030. 6.6Similar to Karplus (2011) but not a focal objective of this analysis, simulations demonstrate that US households are estimated to purchase more fuel efficient vehicles in response to gasoline price increases (evidenced by Figure 5). However, dissimilar in these simulations to Karplus’ analysis is the non-distinct income groupings of households that switch their vehicle consumption behavior. Figure 15 displays the Car and LT percentages of ICE stock under the BAU and HWOP scenarios. 6.3Similar to past studies of financial policy efficacy (Gallagher and Muehlegger 2011), hybrid vehicle percentages of vehicle stock are estimated to be responsive to financial policy availability assumptions. Financial policy efficacy is not particularly evidenced for the PHEV percentages of vehicle stock as their higher MSRP and lower consideration rates in the beginning years, even with the incentive, is a major deterrent to diffusion. This study merges homophily with social network effects to endogenously determine the vehicles available in consumers’ choice sets, the inclusion being spurred by exceeding agents’ WtC threshold through simulated idea diffusion.<br>
<br> In comparison to the other primary financial-centric model mechanism of policy population ratios, the 2030 estimates for battery costs vary by approximately $1000-$2000 whereas the financial incentives reduce the MSRP by $7500 in the beginning years when EVs are still relatively expensive, adding to the base of initial adopters and encouraging WtC diffusion. 5.10Although seen as a potential hindrance to EV diffusion, the different characteristics of Prius Battery Replacement mn costs have relatively small impacts on EV diffusion in comparison to policy, range, MPG, and VMT as range assumptions. Wind developers range from large, multi-national wind turbine manufacturers to small regional businesses. Hybrid vehicles are also influenced by the various assumptions of BEVs and PHEVs; when the range estimates come from the most pessimistic source, hybrid vehicles’ 2030 percentage of vehicle stock increases by approximately 0.6% over the other most optimistic range assumptions scenarios. Honda is also looking at shorter leases for CR-V Hybrid drivers, under the assumption that many will want to migrate to the Prologue.<br>