Cost Of Electric Cars Compared To Gas
The original Nissan Leaf wore a starting price of $33,600. Though we wrote the “initial investment” of our long-term 2011 Leaf was a “steep one” we also noted that, “we spent much less to run the car than we would a similar gas-powered hatchback.”
Nissan promoted the original Leaf to the masses with the message that recharging its battery pack came at a cost of $3 or less. The automaker even added that its electric hatch was less expensive to keep energized than a gas-powered car rated at 25 mpg. That is, as long gasoline stayed above $1.10 per gallon.
Yet, even accounting for its available federal tax credit of $7500, the Leaf’s cost of entry remained notably higher than that of the similarly sized Nissan Sentra, which stickered for less than $17,000 in 2011. Ignore the tax credit’s impact, and the delta between the least expensive electric Leaf and gas-powered Sentra in 2011 totaled more than $15,000. Account for inflation and that figure balloons to nearly $20,000.
Real-World EV Issues
Fast forward 11 model years, and the delta between the 2022 Sentra and 2022 Leaf sits at $7450a sum the $7500 federal tax credit more than offsets. Don’t forget, the latest Leaf now offers a minimum of 149 miles of EPA-rated range, with the larger battery pack of pricier Plus-badged models netting more than 200 miles of range on a full charge.
Reasons Why Electric Vehicles Are So Expensive
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These days, its expensive just to go where you need to go every day. The cost of gas has skyrocketed 43.7% over the last 12 months, so more and more consumers are looking into purchasing an electric vehicle . If you’re feeling the pinch form higher gas prices, now might be the time to start thinking ways to make extra money to help cover the costs.
EVs are well known for being less expensive to operate than regular vehicles that run on gasoline are, even with increases in electricity prices across the country. Consumers are experiencing sticker shock when they look into EVs, though, as the average cost of an EV is $56,437, compared with the $33,390 average cost of a hybrid vehicle, and the $42,804 average cost of a regular full-size car.
But why are EVs so expensive? Its a legitimate question, with a whole interlocking set of answers.
Electric Car Charging Cards
In addition to smartphone apps, radio frequency identification electric car charging cards are provided by some of the major UK public charging networks, such as Polar, GeniePoint, Ecotricity, Shell Recharge and ChargeYourCar. To use public charging points, youll need to register with a membership scheme before use.
Zap-Map can help identify which charging schemes charging points belong to. There are alternative maps you can use too, heres a few to get you started:
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Q3 What Can Be Done About Ev Battery Sourcing Issues
A) As materials in EVs rely on natural resource mining, the sourcing issues will worsen in the future. The rarest and most expensive material is cobalt. EV manufacturers like Nissan started making batteries without cobalt to avoid sourcing issues. Other manufacturers following that can solve the problem.
As far as other materials go, like lithium, there is an oversupply currently, and efforts are underway to generate new sources in different countries. That should solve the sourcing issues of these materials for at least a few decades going forward.
Electric Car Charging Stations: Availability And Cost
Most electric cars nowadays can go about 200 to 300 miles on a single charge, and the availability of public electric car charging stations is growing. So it should be rare to find yourself running out of power with no vehicle chargers nearby.
And it should only get easier to find and use electric car charging stations. The infrastructure bill making its way through Congress includes $550 billion for changes including building new electric vehicle charging stations, an investment that’s essential if EVs are to become widely adopted.
Many EV owners also buy their own charging stations for home use. The cost of installing one in your home varies, and if you live in a shared apartment getting one put in may be tricky. For the cheapest model, which gives you 5 miles of charge per hour a vehicle is plugged in, youre looking at between $1,300 and $2,300 for the unit and installation, according to Carvana. More expensive models can cost up to $50,000 or more.
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Tools To Help You Calculate The Cost Of Owning An Electric Vehicle
Part of buying an electric vehicle is taking the time to understand whether or not it fits your needs and lifestyle. Before you decide to make a switch, here are some resources to help you calculate the cost of owning an electric vehicle:
- FuelEconomy.gov: Created by the Environmental Protection Agency, this website allows you to compare up to four vehicles based on EPA fuel economy, annual fuel cost, tank cost, tank size and more.
- Alternative Fuels Vehicle Cost Calculator: This tool, created by the U.S. Department of Energy, helps drivers compare up to eight vehicles and takes into consideration how the vehicle will be used, such as the average daily driving distance and types of roads the vehicle will be most commonly driven on.
- Carbon Counter: MITs Carbon Counter is useful for drivers who want to see what their carbon output might be depending on the car they choose to drive.
How Much Co2 Do Electric Cars Produce
We have all seen advertisements on television claiming that electric cars are battery powered, hence are considered Zero Emission. This is an ingenious strategy major companies follow to sell their products to the large scale public.
Not only is it entirely wrong, it is also quite possible that electric cars are worse than gasoline powered cars when it comes to greenhouse gas emissions on the long run.
In fact, the widely used term Zero Emission is misleading that its not a surprise so many companies manage to get away using it.
Everything aside, the main focus of the hour is How much CO2 do Electric Cars produce?
The answer to this question is that electric cars do produce a significant amount of CO2 and according to research conducted by a Swedish Environment Institute, the most CO2 emitted at one time in the life of an electric car is 17.5 tons and this is only to manufacture the battery of the car.
So lets take a look at how much CO2 electric cars produce during their life span and Ill explain a few points to help minimize these emissions in the long run.
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Electric Vehicle Sales By Year
The table below shows the global plug-in sales from 20152019. The Other category includes over 30 countries in Africa, America, Asia/Oceania, and the Middle East.
11. China took the plug-in vehicle market by storm with approximately 645,000 units sold in the first half of 2019 alone
According to Chinas electric car statistics, the Sleeping Giant remains unchallenged in terms of plug-in vehicle sales. The strong EV adoption in China is said to be the result of climate concerns. The country wants EVs to account for about 20% of the annual new vehicle sales by 2025 hence why its adding restrictions on the sale and overall production of fossil-fuel vehicles.
12. By 2030, Japan will see an estimated 210,000 EVs on the road out of a projected total of five million cars sold
Electric car sales statistics show that EV adoption in Japan has been somewhat slow . In 2016, there were only 22,000 units sold, revealing that Japanese people dont really consider environmental factors when it comes to discretionary spending. Government incentives may have pushed people to buy more electric cars, yet, without them, sales would have been significantly lower.
Other concerns that hinder the Japanese to embrace electric cars include cost and inconvenience they still prefer gasoline-powered cars in terms of practicality.
Is Silver A Good Investment Due To Electric Cars
Several governments, including the USA, have set plans for a major increase in EV cars to share in the automotive market. Several precious metals, such as silver and gold, had their values increased because they are used in the production of electric cars.
The demand for silver is on the rise, and it will continue to rise because there are going to be more electric vehicles on the road. All that will increase silver demand, and with it, the price will rise.
Key Takeaway: Investing in silver sounds like a good idea because if this trend continues, the price will need to increase.
Market demand for more silver because of the forecasted rise of EV production will affect silver prices and also the prices of other metals, such as gold.
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How Are Emissions From Vehicles Measured
The Environmental Protection Agency measures vehicle emissions in three different ways.
Tailpipe emissions account for emissions of both greenhouse gases as well as other pollutants released while operating a vehicle. All-electric vehicles dont have tailpipe emissions, while gas-powered vehicles have the largest amount.
Well-to-wheel emissions consider tailpipe emissions and all emissions coming from the production, processing, and distribution of the fuel or electricity needed to operate a vehicle.
Life cycle emissions add in the emissions used in the production of the vehicles and their components. For all-electric and hybrid vehicles, this includes the lithium-ion batteries used to store the electricity they run on.
The Real Cost Of Owning An Electric Car
How much do electric cars cost? These days the cost of many EVs is almost at parity with gas cars.
The Nissan Leaf was the first mass-market electric car sold in the United States. Yes, there were EVs available before the Leaf , but it was Nissan that tried to thread the needle of zero-emission mobility with a cost of entry low enough to sell tens of thousandsas opposed to a few hundred or thousandof EVs to interested customers.
Since the Leaf’s arrival for the 2011 model year, the number of electric cars available in the U.S. has drastically increased. Even better, today’s electric cars pack EPA driving ranges well into triple digits and a number sport sticker prices that close in on parity with their gas equivalents. If you’ve ever wondered “How much does an electric car cost?”, then the Leaf’s decade-plus turn in the U.S. market offers a good look at how these battery-powered vehicles’ price has evolved over the years.
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Us Electric Car Statistics
8. Tesla is the major contributing factor to the market growth of EVs in the US
In 2017, Tesla sold nearly 140,000 of its Model 3s. The following year became even more profitable for the company as they threw Model S and Model X into the mix. All in all, Tesla had over 50% market share of the total number of plug-in sales in the US in 2018.
: Interesting Engineering
9. Toyota Camry aced the list of top 5 best-selling EVs in the US
Surprisingly, Tesla wasnt the number one best-selling EV in the US despite having a huge amount of sales. Our Tesla electric car statistics show that the Tesla Model 3 sat at 4th place based on December 2018 sales data. Toyota Camry snatched the top spot, followed by Honda Accord and Honda Civic.
: Clean Technica
10. In 2018, the US saw one million registered electric cars on the road
The US started pursuing the EV market in 2011. Although the one million-mark is fascinating, its clear that the country is progressing at a much slower pace compared to the leader of the pack China.
: Scientific American
So Are Electric Cars Worth It
If youre seriously thinking about buying an electric car, its worth your time to investigate each of these major cost factors to see how theyll pan out for you, as well as other costs that may not be so obvious. The specific car model youre considering, your state, your home, your commute all these things can make a difference in how much youll pay to go electric. But the decision should involve more than just the cost.
Recharging an electric vehicle takes time, and if youre refueling periodically on long trips, this will require longer stops than a gas-powered vehicle would. Different vehicles have different maximum ranges, so it makes sense to choose a car that will get you through your typical daily commute on a single charge. And because charging at home is so important, drivers who live in multi-unit buildings may find electric vehicles to be a bad fit simply because theres no practical place to charge them.
But if you find that you have the time, the space and the budget to invest in an electric car, you can take pride in knowing that youre helping contribute to meaningful change in the health of our environment and planet. By consuming fewer fossil fuels and producing fewer greenhouse gas emissions, youll help mitigate the effects of climate change wherever you drive.
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Finding The Right Plug To Charge An Ev
Voelcker explains the difference sounds more complex than it is. The vast majority of fast-charging locations have both kinds, with a different cable on each side of the station. Its like the same gas pump could dispense both regular gasoline and diesel fuel from different hoses.
As for the price, a 240-volt recharge could cost you anywhere from zero dollars to a fixed hourly rate. Charging networks often provide membership programs to minimize your recharge cost. Thats especially useful if you cant regularly charge your vehicle at home.
The EVgo network charges rates by state, and costs vary for Level 2 charging. On its website, the pay-as-you-go approach costs 30 cents per minute in Georgia for its rates as of this writing. However, if youre an EVgo Plus member, the rate drops to 24 cents per minute. Other popular charging apps include ChargePoint, Electrify America, and PlugShare.
Important Information About Tax Credits:
Congress recently passed new legislationthe Inflation Reduction Act of 2022which changes credit amounts and requirements for clean energy vehicles.
Preliminary guidance from the Internal Revenue Service addresses two important issues regarding vehicles purchased in 2022:
- If you entered into a written binding contract to purchase a new qualifying electric vehicle before August 16, 2022, but do not take possession of the vehicle until on or after August 16, 2022, , you may claim the EV credit based on the rules that were in effect before August 16, 2022.
- If you purchase and take possession of a qualifying electric vehicle between August 16, 2022 and December 31, 2022, final assembly of the vehicle had to be completed in North America, otherwise the same rules in effect prior to the enactment of the Inflation Reduction Act apply .The Department of Energy has provided a list of Model Year 2022 and early Model Year 2023 electric vehicles that may meet the final assembly requirement. Because some models are built in multiple locations, there may be vehicles on the list that do not meet the final assembly requirement in all circumstances.To identify the manufacture location for a specific vehicle, please search the vehicle identification number of the vehicle on the VIN Decoder website for the National Highway Traffic Safety Administration . The website, including instructions, can be found at VIN Decoder.
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From Concept To Reality
Even though the Impact was an impressive concept car, and regulators wanted car companies to sell EVs, some at General Electric continued to insist that no one wanted an electric car. A production version of the Impact would cost too much, and the limited range wouldnt be enough for anyone to be interested. State governments alleged that automakers just didnt want to make their decades-long investments in gas engines obsolete.
General Motors tested the Impact with potential customers around the country in early 1994, loaning out 50 cars on two-week loans to 1,000 households. Much to GMs surprise, interest in the test drives was overwhelming. The company expected 4,000 responses in Los Angeles, California instead, it received 9,300 calls. In New York, GM estimated fewer than 5,000 interested households, but over 14,000 people were interested. Sean P. McNamara, manager of market planning for electric vehicles at GM at the time, told The New York Times, just because weve got all these calls does not necessarily mean that theyre all buyers.
Electric Car Cost Per Mile Vs Gas
3,369 kilowatts are needed to drive the annual mileage of 13,474 miles, this was used on a state by state basis for how much this costs per mile. As an average across the USA, this would mean the electric car cost per mile is just under $0.03, and our gas car comparison cost per mile is just over $0.06. This is just accounting for the cost of electricity and gas in vehicles, not other factors such as maintenance or taxes.
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