6 Reasons You Should Consider An EV For Your Next Car
Electric vehicles are on the rise, and they are expected to overtake the number of gas-powered vehicles. The number of EVs on the roads is expected to reach 18.7 million by 2030. According to Wood Mackenzie, by 2050, that number may increase to 700 million electric vehicles.
Here are our top reasons on why you should purchase an electric vehicle.
#1: EVs Are Cost-Effective:
In the long run, an electric vehicle can save you a great deal of money. A typical EV owner who charges their vehicle at home can save an average of $800 to $1000 a year on fuel costs. Fuel is not cheap these days, especially in states like California where the average gas price is between $4 and $5.
With such high gas prices in many parts of the U.S., it’s no surprise that the average American spends around $2000 a year on gas. In addition to fuel savings, electric cars can also save drivers when it comes to maintenance and repairs. A 2018 study from the University of Michigan discovered that EVs cost less than half as much to operate as gas vehicles. As the industry grows, experts expect those low maintenance costs to dip even further.
We’ll talk more on that later.
#2: Government Tax Incentives:
The government has started heavily pushing for electric vehicles, with many officials proposing tax incentives for EV purchases.
In fact, the federal government can offer up to $7,500 of federal income tax credit on new electric and plug-in hybrid vehicles. Amazingly, that federal incentive may even increase to $12,500 by year’s end. The incentives don’t stop at the federal level; in many states, including California, EV consumers can get an additional $7,000 off when they purchase or lease an electric vehicle, whether it is a plug-in hybrid, full battery electric, or fuel-cell electric vehicle.
To put that in perspective, a fully-electric compact SUV with a retail price of $40,000, could actually cost just $20,500.
#3: Electric Cars Are Better for the Environment:
The ongoing climate crisis must be addressed, and one simple way to help the environment is by making EVs more accessible to everyone. Trading in your traditional gas-powered engine for an EV can provide a number of benefits to our environment.
Fully-electric vehicles produce zero tailpipe emissions, resulting in cleaner air and lower greenhouse gas emissions – especially in busy industrial cities. Driving an electric vehicle significantly reduces emissions and lowers your carbon footprint. Research from EDF Energy found that in a year, one EV can save an average of 1.5 million grams of carbon dioxide.
In terms of manufacturing, while mining for lithium is necessary today, there have been major advancements in creating synthetic lithium that will have a dramatically less impact on the environment. Coupled with ethically sourced lithium, battery recycling is also getting more efficient and more green.
It’s clear that the more we invest in this technology, the more environmentally friendly the entire process will become. For more statistics on environmental benefits and impacts, you can read our previous article here.
#4: Convenient Charging:
While it might take some getting used to, charging your new EV can actually be a lot more convenient than pulling into a gas station.
If you have an electric car, you most likely have a Level 1 or Level 2 charger at home. So, unlike traditional gas-powered cars, when you get home from a long day you can simply plug in, sit back and relax while your car charges overnight.
There has been a major push by the federal government and individual states to expand the nation’s public charging network. Today you can visit your favorite shopping mall and plug in while you shop; if it’s a DC Fast charger, you could even fully charge your car by the time you’re done checking out. Looking ahead, drivers will soon be able to charge their car efficiently and affordably in virtually every commercial, corporate or residential location.
#5: Access to Additional Perks
Want to avoid rush hour traffic?
In states like California, clean-fuel drivers can access carpool (or HOV) lanes as a single driver, saving you valuable time during your commute.
For drivers who typically stay in town, more and more commercial venues are also offering benefits for EV drivers as well. Property owners around the country are choosing to install EV chargers in the closest, most convenient parking spots as a way to incentivize zero emission vehicles.
#6: Less Maintenance:
Dealing with common car troubles like oil changes or leaks can be a pain. As it turns out, electric vehicles tend to have less of these costly maintenance issues. According to Consumer Reports, the average savings on maintenance and repair for EV consumers is around $4600 over the lifetime of a vehicle. EVs have fewer moving parts, which means fewer issues. Moreover, EVs have something called regenerative braking, so the brakes do not need to be replaced as often, if at all. The less maintenance issues you have to deal with, the easier your life will be.
The Bottom Line
Driving an electric vehicle is beneficial in many ways, and it is only going to get better as technology advances and more EV infrastructure is built. While many people still remain skeptical about driving an EV due to issues like range anxiety, electric vehicle companies are working hard to develop solutions to these problems by increasing the range of vehicles. EV infrastructure will continue to rapidly increase all over the world, eventually offering every driver the ability to charge anytime, anywhere.
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Are you ready to join the EV revolution? What are your concerns about making the switch to an electric car?
If you’re already an EV owner, what has your experience been like? We want to hear from you!
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