From costs savings to special rebates to perks, owning an EV offers plenty of benefits. A whole new world
The car industry is on the brink of the biggest technological disruption it’s faced in decades. The car of the future will be electric; it will be connected and it’ll make gas-powered vehicles look like a horse and buggy.
Nearly all major automakers have plans in the works to roll out an EV. Technologies have advanced, more businesses are installing EV chargers for employees. It’s an exciting time to go electric. Want to save money, get a smoother, quieter ride, and spend less time and money at your mechanic? An EV might be right for you. And as a bonus, you’ll be helping cut down on carbon emissions, making the planet a healthier place.
Worried about running out of juice? Don’t. If you’re like most Americans, you drive less than 40 miles a day. Most EV models can go 100 miles on a single charge, and soon-to-be-unveiled new generation EVs will go upwards of 200 miles. Read on to see why going electric makes sense.
You’ll save money
When considering an EV, you have to look past the sticker price; owning an EV is often cheaper over the long haul.
EVs can range from the low $20,000 range to over $100,000, depending on the model. Your average EV costs $30,000, and it’s true, in some cases that’s more than a gas-powered car of a similar size. But electric cars are eligible for a federal tax credit of up to $7,500, and city and state tax credits, vouchers and rebates offered across the country. In Colorado, for example, residents get a $5,000 state credit when they buy an EV, reducing the total cost of buying an electric vehicle by more than 40% in some cases.
Charging an EV is also much cheaper than filling up your tank. The average American spends $2,000 to $4,000 on gas a year. Plugging in instead of filling up can save you thousands on fuel costs, with electricity cheaper than gas. Depending on gas prices, you could save between $1,000 and $1,300 a year on fuel costs, or between $11,600 and $17,100 for the life of your car. Since 2011, gas in the U.S. has averaged $3.46 a gallon, while the price of an “eGallon” has averaged just $1.19.
“Fueling up” is also easier, with no more trips to the gas station. Just hop out of your car after your commute, plug in and go about your evening. In the morning, you have a charged EV. Or, hit up a public charging station on your way home from work; at some stations you can fully charge in 15 minutes.
You’ll get a smoother ride
Electric cars curb noise pollution. With no motor, you get a quieter and calmer ride void of vibrations. After you ride in an EV, a regular car will feel clunky and loud. EVs also have high torque, and when you step on the accelerator, power goes right to the wheels, making for a quiet acceleration and a smoother driving experience.
Some might worry that electric vehicles’ quiet could pose a danger to pedestrians and animals unaware a vehicle is nearby, given the lack of noise. To address that, some EV manufacturers have created a special feature: warning sounds that go off when the vehicle hits a certain speed to alert pedestrians to their presence. You’ll spend less time—and money—at the mechanic
Electric cars have fewer parts, making maintenance much easier—and cheaper—than with a gas-powered car. EVs don’t have exhaust systems and don’t need oil changes or have spark plugs that need to be replaced.
Their breaking system also works in a way that it returns energy to the battery, which means less wear and tear on brake pads, and other brake parts like the rotor and caliper. Many EV owners find their biggest maintenance is simply rotating the tires and keeping them properly inflated.
EV batteries are built to last the service life of the car and are pretty reliable. Replacing a battery isn’t cheap—it can cost thousands of dollars—but battery costs are coming down, even as the technology becomes more advanced.
You’ll get perks
Aside from saving on your taxes, EV owners are also subject to perks. Often, electric cars have access to High-Occupancy Vehicle (HOV) lanes on freeways, reducing commute time. Many utilities also offer “off-peak” electricity rates so you can recharge your battery at the lowest possible rate, usually at night.
Discounts are also available for EV owners looking to upgrade to a higher-powered home charger. Individuals and businesses in some states can get rebates for installing EV charging stations. And some insurance companies offer discounts for EV owners. Some cities are even offering free or discounted city parking for those driving an electric vehicle. New incentives for EVs introduced all the time.
EVs are also raising the bar when it comes to car technology, and as an EV owner you’ll benefit from these advancements. Features include controlling parts of your EV from your smart phone, such as locking or unlocking your vehicle. Owners of one EV model can heat up their car on a cold winter morning from inside their house using an app.
You’ll help the planet
Bottom line, electric vehicles pollute less than regular cars; no tailpipe means less air pollution. EVs can reduce the emissions that affect climate change and contribute to smog, helping to improve public health and the environment.
Recent research has also identified a hidden benefit of EVs when it comes to the environment—they could help cool down sweltering cities. Switching from gas-burning cars to electric ones can help with a phenomenon called the “urban heat island effect.” That’s the observation that cities are usually hotter than surrounding rural areas.
EVs emit less heat, so their large-scale adoption over gas-powered vehicles could help improve livability and reduce cooling bills and energy use for city dwellers.
Did you know?
What’s an eGallon? It’s the cost of fueling a vehicle with electricity compared to a similar vehicle that runs on gas. Compare the cost of gas and an eGallon in your state here.
Interested in learning more about charging and charging incentives? Read more here.
EZ-EV saves you time and money while driving electric. Click here to sign up.