Electric vehicles (EVs) are a growing market for new car purchases with more and more people making the switch from the gas station to an electrical outlet to fuel their vehicles.
You’ve probably heard how good EVs are for the environment. While this makes you feel good about your upcoming purchase, you may still be on the fence about going electric. Keep reading for a few other great benefits of EV ownership that may help you with your decision.
Tax savings – Did you know that when you purchase a new electric vehicle, you could be eligible for a federal tax credit of up to $7,500? To learn more about this tax credit and other incentives that you may be eligible for, visit the Department of Energy.
Savings on maintenance – When you drive a fully electric vehicle, there’s no need for oil changes, fuel filters, new spark plugs, yearly emissions tests and other costly maintenance. Instead, you can enjoy more money in your pocket as you drive on to your next destination.
Fuel savings – With an electric vehicle, you will no longer have to fuel up at the gas station, but instead, you can charge at home or at any one of the hundreds of public charging stations across the state. While an efficient gas-powered vehicle can run for about 10-15 cents per mile, the average electric vehicle can run for just 3-5 cents per mile. Pennies per mile add up to big savings over the lifetime of the vehicle!
The trend toward electric vehicles is expected to continue, especially with the billions of dollars that auto manufacturers are investing in these new vehicles. The list of manufacturer support is long with almost every large automobile manufacturer currently developing or selling an electric vehicle.
Charging Your Electric Vehicle
When charging your vehicle at home, we ask that you charge it off-peak — from 10 p.m. to 6 a.m — if possible. With many current models, you can plug in your vehicle when you get home and schedule the charger to hold off on charging until off-peak hours.
- The use of EV chargers causes a spike in electricity demand; and if used during the "peak" daytime hours, can significantly increase electric costs for the cooperative and members.
- A typical electric vehicle can require a power draw of up to 20 kilowatts for a Level 2 charging event, equivalent to the peak power requirement of three to four mid-sized homes.
- Transformer and circuit overloads, both on the primary and secondary sides of the meter, are possible if charging loads are not properly handled.
Off-peak charging of EVs will enable members to enjoy the benefits of electric vehicles and avoid rate increases to all members caused by on-peak charging.
Other Electric Vehicle Calculators
Department of Energy EV Cost Calculator(link is external)