The federal government could save $6 billion over the next 15 years by converting its fleet to electric vehicles, according to a new report, which found the long-term savings far outweigh the upfront costs.
The government will have to put up $4.6 billion in added costs to buy the new vehicles over the more standard variety, the ICF Climate Center found, but would break even by 2028 and realize billions of dollars in savings thereafter. The federal fleet consists of more than 650,000 vehicles and less than 1% of that total are currently electric. The reduction in greenhouse gas emissions would result in added social benefits valued at an additional $1.2 billion.