If you are thinking about buying a new car, consider one of the electric vehicles. Although at first glance it can seem a bit scary, there are plenty of benefits in owning one of these vehicles. Learn more about why you should buy an electric vehicle.
1. Money Savings
Electric vehicles cost less to run than gas powered vehicles do. With an electric vehicle that is run purely off a battery you can save nearly 75 percent annually on fuel over the cost of a gas powered car. In areas that have night electric rates, you can save even more by powering your electric vehicle up at night when rates are lower.
In addition, electric vehicles do not have transmissions or combustion engines. This eliminates the need for costly maintenance such as fuel filters, oil changes, emissions tests and more. The most expensive maintenance on an electric vehicle is the cost of the battery, which does have a limited life.
2. Tax Credits
There are IRS approved tax credits for qualifying electric vehicles. These credits are worth between 2,500 and 7,500 dollars depending on which type of vehicle it is. This tax credit is currently available in all states except for Oregon, which does not allow for a tax credit for the vehicles. Instead, Oregon offers a tax credit for the equipment required to charge the vehicle.
3. Environmental Benefits
One-third of the greenhouse gas emissions in the United States are caused by transportation. Sixty percent of which is from the use of personal vehicles. Electric vehicles reduce carbon emissions substantially. Additionally, electric vehicles feature the following benefits:
- Cut noise pollution
- Reduce the use of hazardous fluids including transmission fluids and oil
- Help the country make the renewable energy transition
4. Energy Independence
By keeping energy dollars in the state, jobs are kept in the state. Electric vehicles and charging stations are good for the economy of the entire state. Most states do not have oil wells. For this reason, when you fill your regular car up with gasoline, the bulk of the money that you are paying for gas leaves the state and often even leaves the country.
Most of the electric that is used to recharge an electric car is made locally by your state. This ensures that the money you are spending to fuel your electric vehicle stays closer to home when you charge your car.
Electric motors only have a few moving parts. They do not require fluids such as engine oil, transmission fluid or antifreeze, making them require very little maintenance and less likely to leak. Down time is less likely to occur with an electric vehicle.
In spite of these benefits, there are a few disadvantages to owning an electric vehicle, primarily concerning the battery.
1. Driving Distance
Most electric vehicles can only drive approximately 100 to 200 miles before they require a recharge. Some of the gas-powered vehicles can go as many as 300 miles before they require refueling.
2. Battery Cost
The battery packs for electric vehicles are large and expensive. They may require replacement once or twice over the life of the vehicle.
3. Recharge Time
A full recharge on the battery can take up to eight hours to complete. Even a quick recharge that will take the battery to about 80 percent of its capacity will take over 30 minutes.
4. Weight and Bulkiness
The battery is heavy and it takes up a lot of space in the vehicle.