Electric and gas vehicles have always had a cost-benefit analysis. Fully electric cars are more expensive to purchase, but they are less expensive to own since they are less expensive to fuel and maintain – plus they emit no emissions. Traditional automobiles are less expensive up front, but they cost more in the long term due to the high cost of filthy gas.
Yes, EVs are more expensive to purchase, but they pay their owners back for the difference and then some over the life of the car — plus the whole saving the planet thing — and that’s before state and federal tax credits and other incentives are included in.
The Department of Energy (DOE) produced a more complete report than previous studies in 2020. The study’s conclusions were significantly more detailed than earlier research, which assumed a solitary value, because it used a state-level evaluation of EV charging prices.
It discovered that the national average for charging an EV is $0.15 per kWh, which DOE said translated into a savings of up to $14,500 in fuel expenses alone over a 15-year period. Furthermore, EVs are less expensive to maintain – $0.04 less per mile, according to the DOE — saving EV drivers an additional $8,000 over the course of 200,000 miles.
Ladies and gentlemen, the jury has reached a verdict, and that verdict is guilty on all charges when it comes to ICEs being more expensive to fuel than charging and electric car. It’s no wonder why Tesla and other EV automakers can’t keep up with demand and are having to raise prices.
