Cost-benefit assessment of electric vehicle vs internal combustion engine in Latvia

Transport sector in Latvia have several challenges: energy consumption decrease, produced CO2 emission decrease, air pollution decrease, reduction of the average age of the car in the country, integration of renewable energy source to replace fossil fuel. Electric vehicles have high potential in the future to help achieve directive 2018/2001/EC targets. This study presents a cost-benefit analysis of electric vehicles, as well as an internal combustion engine with diesel and gasoline. The cost-benefit analysis methodology was developed considering car production, purchase, operating and utilization costs. Environmental aspects such as air pollution, climate change and noise were also taken into account.