The Real Savings with Electric Vehicles
The state of the EV market is ever-changing. With the price of lithium-ion batteries down 70%, the appeal of owning an electric vehicle is now more obvious to budget-conscious consumers- particularly when the fuel costs are less than half of gas-powered vehicles.
But the benefits don’t stop once the car is purchased. A fundamental advantage of purchasing an EV is realized during daily commutes.
Most people are aware of tax incentives available for electric car purchases, which can be as high as $7,500 in certain states. While this does substantially reduce upfront costs, there are additional ongoing savings consumers often aren’t aware of.
Maintenance is an often overlooked area for car buyers. Oil changes, air filter swaps, head gasket replacements and more all add up over time — unless you own an EV, which does not rely on these outdated parts.
Less moving parts under the hood means more savings for the owner. While EVs do require annual maintenance, like tire rotation or brake fluid swaps, the relative costs are massively different. New York’s Fleet reported spending 500% less on their EVs’ maintenance compared to gasoline-powered cars.
The cost of maintenance may be overlooked when car shopping, but one expense remains front and center in consumers’ minds: the price of filling up, whether it’s on gas or electricity. Next to environmental concerns, this is the biggest sticking point for new car buyers — and the source of EV’s greatest misconception. Contrary to persistent yet outdated beliefs, the cost of electric vehicle charging isn’t higher or even equal to gas prices — it’s less than half the price.
A recent survey of US drivers found that, while a majority were interested in purchasing an EV, concerns remain about the viability of daily use, particularly as it relates to charging the battery. 67% of surveyed drivers said more state investment in EV charging stations was necessary before they’d consider purchasing an EV.
These concerns are valid, but become increasingly outdated as greater numbers of drivers rely on their EVs for daily use. There are electric vehicles on the road today that have racked up more than 100,000 miles, revealing a level of daily use only possible through increased availability to electric vehicle charging stations.
The recent opening of the USA’s first all EV filling station acts as a bellwether of this increasing shift towards EVs. Moreover, with nearly 70,000 charging ports available in the US, the notion of running out of juice on the road is quickly becoming an outdated grievance.
At Greenspot, we’re dedicated to helping accelerate this shift. We bring EV charging solutions to cities and townships, working directly with local governments and developers to help build, maintain, and promote new EV charging stations. These stations aren’t just a buy-in on an EV future — they’re a necessary part of our current transformation infrastructure, from fleets of electric taxis to the personal vehicles more and more drivers are purchasing every day.
Changes to the automobile market don’t happen overnight. All of these fantastic evolutions are the result of good policy, smart consumer choices, and attractive electric car models. Greenspot is bringing more charging stations throughout the US to put fuel into the fire of the electric vehicle revolution.
No pun intended.
