Electric vehicle rebate among staff proposals to speed up Toronto’s target to become a carbon neutral city
Electric vehicle rebates among staff proposals to speed up Toronto’s target to become a carbon neutral city
Ontario’s plan to phase out coal-fired electricity by 2030 is gaining steam. A year-long pilot program will see $1.3 billion invested in an electric grid that can supply the province with “energy almost anywhere.”
However, the cost to taxpayers from electric vehicles, rebates and infrastructure improvements could ultimately outweigh the cost to the electricity industry.
As of now, the government has only outlined a $600 million fund to help pay for the pilot program. But that money could quickly add up.
A single electric vehicle in the country costs around $32,000, according to the World Bank. If Ontario can’t deliver on its goal of a carbon neutral electric grid, the cost to taxpayers could quickly add up.
“The cost over time from the electricity industry is very high,” said Michael Makuwa, an electric vehicle researcher at the University of Waterloo.
“The electricity sector is very small, as is the cost of the subsidies.”
If Ontario can’t deliver on its goal of a carbon neutral electric grid, the cost to taxpayers could quickly add up. And that’s before electric vehicle subsidies that will make electric vehicles more affordable.
The electric grid
“The electricity sector is very small. It is a very large infrastructure,” Makuwa said.
It’s the largest infrastructure project Ontario has on its plate. The cost to taxpayers alone is huge.
For example, the average monthly wholesale electricity bill in Ontario is $5.40.
Electricity is supplied by the electricity sector. There are four types of electricity suppliers: wholesale, retail, municipal, and community. The average wholesale price from the big four is $1.75
