Publish Date: March 20, 2023
State vehicle procurement often relies on a pure up-front cost assessment. Recently, states have started to look at ways to holistically assess up-front cost, fuel, and maintenance when procuring fleet vehicles. A total cost of ownership approach is a straightforward, fiscally responsible way to ensure that state fleets are affordable, modern, and maximize state dollars. A new report from national business association Advanced Energy United found the state of Florida could save almost $280 million by considering the total cost of ownership in vehicle procurement decisions, compared to the current practice of only considering purchase price. The report, a joint effort between Advanced Energy United and the Electrification Coalition with support from Atlas Public Policy, highlights the lower lifetime maintenance costs that ultimately make an electric fleet significantly more affordable for the state.