Electric buses offer financial and environmental advantages. Pittsburgh Port Authority is aware of this, so as of this year they are testing the use of electric buses in their fleet. Even though an electric bus is currently expected to be approximately cost-identical to the average Pittsburgh clean-diesel bus over its lifetime, the upfront cost of electric buses is substantially greater than that of the clean-diesel fossil-fuel buses Port Authority would otherwise purchase. Hence, Port Authority’s 2020 and 2021 electric buses were partially financed via grants.
Because electric buses offer advantages, and because in the near future they can be expected to be cheaper over their lifetime than clean-diesel, it is worth finding a strategy to finance future electric bus purchases. One such method is to lease the batteries (as the battery is the most expensive component of an electric bus). Thus, as the capital cost of electric buses falls, Port Authority should consider financing the batteries of future electric buses that will be purchased. This will remove the financial obstacle that is expected to continue to preclude electric bus integration for many years, allowing Port Authority to both save money and support our environment.
Status: Still waiting to hear back.
Posted 2020 November 13, last updated November 22.