Lesser Known Benefits of Electric Vehicles

Most people know that electric vehicles are good for the environment.

Fewer drivers know there are many reasons to drive an EV other than the fact that they are better for the environment than ICE vehicles. Here are some reasons you may not have been aware of:

1—In the long run, they’re less expensive.

Yes, some drivers get sticker shock when they see the initial price of an EV, but there’s more to consider than the initial investment. According to the Department of Energy, EVs cost an average of half what ICE vehicles do to refuel, an average of $1.24 vs. $2.60, and for most Americans right now, it’s been a long time since they’ve seen a price per gallon as low as $2.60.

According to AFDC energy, if electricity costs $0.13 per kWh and the vehicle consumes 33 kWh to travel 100 miles, the cost per mile is about $0.04. A full charge (the equivalent of a full tank) would run about $9. Those who charge at home save even more because residential rates are kept low, and drivers can choose off-peak hours to charge.

EV drivers also report little to no maintenance on their vehicles over the course of a decade. Much is made of the high price of buying a battery; however, most drivers purchase a new car after ten years or 150,000 miles, about the same time an ICE vehicle would need to be replaced. If a driver did choose to purchase a new battery, they would essentially have a brand-new car on the inside for around $1,500.

According to EnergySage.com, the annual fuel and maintenance cost for an EV is $485 and  $1,117 for a gas-fueled car. If you’re a driver who plans to keep your vehicle for at least ten years, it’s less expensive and most efficient to drive an EV.

Additionally, according to Energy.gov, there is still a federal IRS tax credit for purchasing a new EV, and it is between $2,500 and $7,500 per EV purchased for use in the U.S. The size of the tax credit depends on the size of the vehicle and its battery capacity.

2—It’s not just gas EVs save.

Tune-ups, tire rotation, spark plug replacement, and oil changes are a thing of the past. Oil needs to be replaced every 5,000 to 10,000 miles. Over the lifetime of a car, that’s a heck of a lot of oil saved; in fact, an EV may make you fossil fuel free.

3—EVs are easier and more fun to drive.

An electric engine offers instant torque. They provide unsurpassed handling, responsiveness, smooth acceleration and deceleration, and comfort with a lower center of gravity. They are the most high-tech cars on the market, and some have world-renowned acceleration. An Ohio Volt owner states, “You know how you accidentally go around a curve a little too fast, and it feels like you’re going fly off the road? That doesn’t happen with an EV. It’s an unparalleled level of control. I asked a friend of mine who said he’d never buy an EV to just test drive one. He bought a Tesla on the spot.”

4—Incentives and rebates.

Bet no one ever offered you $1,500 to $7,500 back the last time you purchased a vehicle. And that’s just a federal credit; state and city tax credits and rebates also apply. It’s possible to save up to $10,000 buying an EV. Edmunds lists rebates by type of car. California offers a cash rebate of $2,500 for purchasing a Chevy Bolt, Hyundai Ioniq Electric, or Jaguar I-Pace, in addition to federal tax credits.

A bill raising tax credits for EV drivers is now in the House of Representatives, which means new savings may be on the horizon. According to Forbes, if the best were to happen, “most EVs and plug-in hybrids would qualify only for the base $7,500 tax credit—same as available today—because the measure reserves the first $2,500 bump, to $10,000, for qualified plug-in vehicles made in the U.S. and the next bump, to $12,500, for those made in the U.S. with union labor.” Since this wouldn’t apply to manufacturers who put their factories in Mexico, it could also increase U.S. employment.

5—Healthcare.

EVs have no tailpipe emissions. There are two significant categories of vehicle emissions: direct and life cycle. According to Energy.gov, direct emissions are emitted through the tailpipe, evaporation from the fuel system, and during the fueling process. “Direct emissions include smog-forming pollutants (such as nitrogen oxides), other pollutants harmful to human health, and greenhouse gases (GHGs), primarily carbon dioxide.  All-electric vehicles produce zero direct emissions, which specifically helps improve air quality in urban areas.” These are the emissions that make us ill, cost the healthcare industry billions, and cause climate change.

Purchasing an EV is becoming easier than ever, and you decide to purchase your next one for more reasons than their environmental appeal.