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In 2009, President Obama launched the national push for EVs, with the $7,500 federal tax credit as its flagship incentive. Many states also offer EV incentives, such as free parking, waived vehicle registration fees, and road lane benefits. But despite these incentives, few people are interested in purchasing an electric vehicle.
EVs are cheaper per mile than gas-powered vehicles
While the purchase price of an EV is often higher than that of a gas-powered vehicle, they are cheaper per mile to operate because they produce zero emissions. And because gas prices are so high, driving an EV will save you money in the long run. In fact, it is possible to drive a fully electric car for three to five times less than it costs to fill up a gas tank.
EVs are not only cheaper to buy than gas-powered cars, but they also cost less to maintain. A battery-powered car can save an average consumer over $6,000 in gas costs over the life of the vehicle. But if EVs are to become a viable option, Congress must pass incentives to encourage them. At the moment, a $7,500 federal tax credit is available to help consumers buy an electric car. Although it’s not enough to stimulate EV sales, it’s a useful incentive. This credit is available to manufacturers who sell at least 200,000 electric cars each year. Ford is likely to exceed that cap this year.
They have a range of 50 miles a day
An electric vehicle’s range is crucial to its utility. The range of an EV will determine whether or not it can make it to the nearest charging station or complete the daily commute. This range will depend on many factors, including speed and acceleration. Also, consider the use of features like the AC and heater.
While it is true that average daily vehicle miles traveled do not bear much relation to the range an American consumer is seeking from a battery electric vehicle, that does not mean that this number is not important. The range of an EV depends on its ability to satisfy a consumer’s automotive travel needs 100% of the time. After all, many Americans take many trips every year.
They require fewer parts than gas-powered vehicles
Gas-powered vehicles have fewer moving parts than electric vehicles, but they require regular maintenance. The average gas-powered vehicle goes up to 7,500 miles without an oil change, while electric vehicles can go up to 15,000 miles without a change. This fact has led to many service stations to fire mechanics. The question is: Will electric vehicles replace the need for gas stations?
EVs also tend to cost less to maintain. Electric motors do not need regular oil changes, and electric batteries do not need regular replacement. Of course, EVs still need auto insurance, tire rotations, and brake maintenance, but maintenance costs on an EV are typically a third of what a gas-powered car costs in five years.
They are expensive
One of the major questions regarding electric vehicles is whether they are really more expensive than gasoline cars. While most EVs are cheaper to buy and operate than gasoline vehicles, prices are on the rise in many areas of the country. According to the U.S. Energy Information Administration, the average residential electricity price is $26.23 per month. That’s still quite expensive, but not by much.
The majority of the price of an electric vehicle comes from the power plant, which requires a large amount of raw materials and energy. Batteries are another major cost, as they require precision manufacturing. Typically, lithium batteries are used in electric vehicles. They also contain cobalt and manganese, which are expensive metals.
They lack charging infrastructure
While federal and state policies are pushing electric vehicles, the charging infrastructure for these vehicles is still lacking. This lack of infrastructure can be a headache for drivers who need to travel long distances. They must plan their route so they can hit available charging stations. An October 2020 poll revealed that charging time was the most common reason buyers did not consider buying an electric vehicle. Also, the cost of charging at home can deter some buyers.
Thankfully, some states are pursuing policies that will help develop charging infrastructure. Many states have adopted a licensing fee for PEVs and HEVs, which will help pay for infrastructure. Some have even lowered fees for these vehicles, making them more attractive to consumers.