Electric Vehicles Take Charge
An electric vehicle (EV) can put you in the driver's seat for higher fuel efficiency, superior performance and energy independence. EVs may still represent a road less traveled in the overall vehicle market, but the number of buyers making the connection is growing. U.S. consumers purchased more than 360,000 EVs in 2018—the most ever, and an 81 percent increase over the previous year, according to Inside EVs.
Why are electric vehicles making such inroads? They offer a number of advantages over conventional vehicles:
- Lower operating costs. EVs are less expensive per mile than gasoline vehicles. According to a study by the University of Michigan's Transportation Research Institute, the average cost to operate an EV is $485 per year, compared to $1,117 for a gasoline-powered vehicle. Also, electricity rates are consistent over time. No more worries about jumps in gasoline prices. Just think—no more oil changes, either.
- Fuel efficiency. EVs are much more efficient at turning fuel into movement. An analysis by the website AfterOilEV found that EVs convert about 67 percent of electrical power to the wheels, while conventional vehicles convert only about 15 percent of the fuel stored in gasoline.
- Improved performance. Electric motors provide quiet, smooth operation and stronger acceleration and require less maintenance than internal combustion engines. With regenerative braking, stopping your car actually generates fuel.
- Increased range and faster recharge. Most new electric cars can travel at least 100 miles on a single charge, and some can drive more than 200 miles. A 240-volt Level 2 charger installed in your garage can "fill up" your EV in 3 to 9 hours, while a public Level 3 station can recharge your car in less than 45 minutes.
- Reduced emissions. While EVs have no tailpipe emissions, there are emissions from generating electric power. Still, EVs reduce total emissions by 34 percent compared to internal combustion engines, according to an analysis by the Union of Concerned Scientists.
EVs do have some downsides. They typically cost more than conventional vehicles; however, financial incentives and federal tax credits are available to help smooth the way. Also, the number of charging stations, while expanding rapidly, is still limited compared to the number of gas stations for conventional vehicles.
See www.fueleconomy.gov for more information about EVs and to compare different models.
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