Factors of Demand for EVs

Given the threat climate change poses to the planet, and how useful electric cars have been at lowering greenhouse gas emissions, it is important to know why people choose to buy electric vehicles (EVs) over other cars.This paper estimates the key factors that determine the demand for electric vehicles in the United States. The variables that are being used in the regression are income per capita, average energy price in each state, states with tax incentives on EVs, the price ratio of an EV and a non EV, landmass by state, the number of charging stations in each state, the price of gas in each state, and the political leaning of each state (2024 election results). The results of the regression show 6 significant explanatory variables where number of charging stations in each state, states with tax incentives, and gas price are positively correlated with EV demand, and that income per capita, average energy price in each state, and the states political leaning.