• Saturday, March 02, 2024
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Energy economics: EV vs CNG-vehicles

Energy economics: EV vs CNG-vehicles

With the rise of pollution, global warming and fuel prices, Nigeria’s thirst for transiting to cleaner sources of energy has led to the increasing discussion on deploymemt of electric vehicles (EVs) and converting from petrol, diesel and Compressed Natural Gas (CNG).

Multiple companies are venturing into electric vehicle sector with intentions to locally assemble thousands of EVs. This move is spurred by the escalating petrol prices and the government’s elimination of fuel subsidies, rendering EVs a compelling alternative for Nigerians.

However, the cost-effectiveness of new EVs in the Nigerian market raises apprehensions, particularly as a significant number of Nigerians are accustomed to acquiring fairly used vehicles at more affordable prices.

In the case of CNG vehicles, the Federal Government of Nigeria has made investments that saw the commissioning of seven CNG conversation centres across the country, among others.

How CNG and EVs are different and their usability, according to Dion Automotives

CNG serves as an alternative fuel option provided with lower operational and installation expenses compared to EVs. It produces fewer harmful emissions than their petrol counterparts.

On the other hand, EVs operate using electric power and are recognised for their environmental friendliness, emitting zero pollutants.

An alternative consideration: Given the escalating fuel prices and environmental pollution concerns, CNG-powered vehicles and EVs emerge as viable alternatives.

Economise more: Due to their fewer components, both CNG vehicles and EVs has lower maintenance and operating costs compared to traditional vehicles.

Energy efficiency: Among CNG, petrol, and EVs, the latter stands out as the most energy-efficient.

Range: While EVs may induce range anxiety, CNG offers a reassuring option to switch to petrol if needed, mitigating such concerns.

Environmentally conscious: CNG emits fewer harmful particles, whereas EVs produce none. In comparison to CNG vehicles, EVs operate seamlessly, generating zero noise, vibration, and harshness.

Driving experience: EVs provide an unparalleled driving experience with their gearless option and impressive performance. CNG offers a cleaner driving experience, with the flexibility to switch to petrol if CNG runs out.

“Nigeria needs robust infrastructure investment in the midstream sector to be able to explore alternative energies,” said Kelvin Emmanuel, CEO of Dairy Hills Limited, while speaking on gas as a transitioning fuel at the Policy Intervention Series on Alternative Fuel, organised by BusinessDay in Lagos last October.

According to him, the efficient distribution of gas across Nigeria will foster the country’s drive to adopt CNG and electric vehicles.