According to the Kelley Blue Book, electric vehicle sales will increase by 66% in 2022. One of his 20 new cars off the dealer’s premises was an electric car. Widespread economic concerns could slow this growth in 2023, but this is likely to continue as both traditional automakers and EV start-ups shift their entire markets to an electric-first future. may be just an obstacle.
If you’re thinking about buying a car and wondering if you should buy an electric vehicle, weighing the pros and cons of buying an EV in 2023 will help clarify your decision.
Benefits of owning an EV
long term fuel savings
Charging an EV battery at home costs just a few bucks. The actual amount may be higher if your EV has a larger battery or if your electricity bill is higher than average. But it’s arguably cheaper than filling up the gas tank.even a few gallons States with relatively low gas prices It will cost you more than typical home fees.
look How much does it cost to fill up an EVelectricity rates are calculated by multiplying the kilowatt-hours (kWh) listed on the electricity rate table by the EV battery size, which varies by model.
For example, if you pay the national average electricity bill (about 15 cents per kWh) and drive a Chevrolet Volt EV with a 65 kWh battery, you will have to pay $9.75 ($0.15 x 65) to charge the battery. I have. Fill up from the sky. On the other hand, 10 gallons of gasoline (the amount needed to get a Chevrolet Volt’s maximum range in a gasoline engine at about 25 miles per gallon) costs $35 at $3.50 per gallon.
Charging at public chargers is less predictable. Some companies give their customers one or two chargers for free. Others set their own rates.You can also use a charging network like electrified america, ChargePoint or EVgo. At locations across the country, these are most like gas stations. Charging networks, especially those near interstates, usually have the fastest charging speeds available and also the highest rates.
Ultimately, the amount you save will depend on the difference between electricity and gas rates in your area, and your typical mileage.
Lower potential maintenance costs
EVs have fewer moving parts than gasoline vehicles, so they are less likely to break down. No engine also means no oil changes and other mundane expenses. EVs are not without maintenance costs. For example, the battery is heavy, so you should plan to change the tires more often. Replacing out-of-warranty batteries does not require any maintenance. can be expensive.
There are also unknown elements. We have millions of gasoline cars and decades of data to help predict costs. EV has a much shorter track record. It remains to be seen how it will work in the 2020s and beyond.
Subsidies and other incentives
a flock of government tax credit You can reduce the cost of purchasing an EV. These subsidies are available for both new and used EVs. This is useful when buying on a budget, but both the specific EV and the buyer must meet the criteria to be eligible.
The U.S. Department of Energy Searchable database state-level incentives. Another perk to watch out for is the public charging station credits that car manufacturers offer as perks.
better for the environment
EVs do not consume gasoline. According to the Massachusetts Institute of Technology’s Climate Portal, EV batteries will be “more materials intensive than building traditional combustion engines,” but the benefits over the life of the vehicle outweigh the initial environmental costs. The emissions produced during the manufacture of the battery are about the same as a standard gasoline car he emits in a year or two. And while the power used to charge cars may come from fossil fuels, power delivered via the grid is much cleaner than via gas.
Cons
Range can still be an obstacle
Prior to 2016, the median range of new EVs was less than 100 miles, and the highest-performance options couldn’t go 300 miles without a charge, according to the U.S. Department of Energy and the U.S. Environmental Protection Agency.
This rapid progress has brought EVs into the mainstream, but still not as close to petrol cars. For example, some pickup trucks may travel nearly 1,000 miles between refuelings.
Even if your petrol car doesn’t go very far, it has a related feature that’s equally important on road trips: speed. It takes only 1-2 minutes to fill the tank, but it can take 30 minutes to fully charge the battery.
Nationwide EV infrastructure is in early stages
There are about 143,000 chargers scattered across 53,000 charging stations, according to the Alternative Fuels Data Center. This is double the number available five years ago. Most locations have only one or two chargers, but fast charging locations along interstates may have a dozen or more.
While charging stations are growing rapidly, gas station footprints are decades ahead. Drivers have about 120,000 locations, according to the Association for Convenience and Fuel Retailing.
In addition to fueling infrastructure, the industry is maturing to support the life of gasoline vehicles, including replacement parts and qualified mechanics. EVs, by contrast, are still answering questions like how the batteries in today’s new EVs will be treated when they reach the end of his service more than a decade later.
Initial cost to be billed at home
Saving money by charging at home seems like a no-brainer.But learn you have to spend thousands of dollars Install a level 2 charger at home You can deflate that profit a bit.
You don’t need level 2 charging to charge at home, but its superior speed (which adds about 25 miles per hour of range compared to level 1’s 5 miles) might be too convenient to pass up.
The final cost depends on several factors. The biggest variable is how much it will cost an electrician to run his new 240 volt connection from your electrical panel at home to your garage or wherever you plan to charge. The charger itself can be easily plugged into an outlet once installed. Some new cars come with a level 2 charger. If not, I’m planning on paying over $500. One thing to note is that some new EVs include free installation of level 2 chargers and 240 volt lines.