“Retained Transportation Fuel Spending in the Southeast: Electric Vs Internal Combustion Vehicles” examines how much current transportation fuel spending remains in a given Southeast state and how much goes elsewhere to benefit other states or regions. We also look at the parallel calculation for electricity that would power EV miles driven if all on-road gas and diesel-powered cars, trucks and buses are replaced with vehicles that drive entirely on electricity.
Our analysis found that electrifying transportation could provide an economic boon for Alabama, Georgia, Florida, North and South Carolina, and Tennessee. Key findings also include:
- $64 billion of the region’s economy is lost each year for fueling transportation, and
- $47 billion in transportation fuel spending could be retained annually in the Southeast by electrifying transportation.