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Going From Pump to Plug: How Much Money Can Electric Vehicles Save Drivers?
What would you do with an extra $770 a year? Buy a new laptop? Pay off debt? The Union of Concerned Scientists analyzed how much money many drivers could save by switching from a gasoline-powered car to an electric vehicle.
We analyzed the cost of refueling electric and gasoline vehicles in each of the 50 largest cities in the U.S. In every city, there is a rate plan that would save the average EV owner on fuel costs, with a median savings of more than $770 per year.
EVs are becoming more affordable to purchase, especially after federal and state incentives are applied. However, barriers remain. The future of the federal income tax credit for EVs is in doubt and policies are needed to ensure that all drivers have the ability to choose an EV. This includes improving charging infrastructure and ensuring access to cost-competitive electric rates for recharging.
We make recommendations for EV drivers to maximize savings; and for policy-makers, electricity providers and automakers to advance policy that promotes EV adoption, and broadens access to charging infrastructure.
- The annual savings range from $440 to over $1,070 per year, depending on the electricity provider, the choice of electricity rate plan, and the local cost of gasoline.
- Many electricity companies offer affordable off-peak, time-of-use plans that benefit EV drivers. EV owners mostly charge their cars parked at home, overnight, which often matches times of lower overall electricity demand. Many utilities offer lower rates during these times. Off-peak, time-of-use rates vary from $.03 per kWh to $0.21 per kWh, resulting in gasoline equivalent costs ranging from $0.25 per gallon to $1.78 per gallon.
- The price of electricity is more stable than oil prices because it can be generated from diverse sources and U.S. electricity markets are regulated. In constant dollars, and when expressed in equivalent gasoline prices, the national average price of electricity as a vehicle fuel has remained around $1 per gallon ($0.88 to $1.17 per gallon) over the last 15 years. Average U.S. gasoline prices between 2002 and 2017 ranged from less than $2.00 to more than $4.50 a gallon.
- Purchase prices of EVs are going down. The cost to produce the battery pack of EVs drives their manufacturing costs, which have been typically higher compared with those for gasoline vehicles. But falling battery costs and rising EV production are expected to bring the purchase prices of EVs down to approach those of gasoline vehicles.
- EVs can be cheaper to maintain than comparable gasoline vehicles. Battery electric vehicles, like the Chevrolet Bolt EV, do not require oil changes and other engine services, while the electric motor and battery systems require little to no scheduled maintenance.
Recommendations for drivers considering an EV
- Evaluate the ability to get electric power where you intend to park an EV.
- Find out about rate options available for charging an EV, especially whether your electric provider offers time-of-use rates.
- Research the availability of state, local and electricity-provider incentives for buying an EV or EV charging equipment.
Recommendations for policymakers and electricity providers
- Access to lower-cost electricity rate plans are key to making EVs a reliable and affordable alternative to gasoline vehicles.
- Access to reliable and public charging, especially fast-charging stations, are needed for those drivers who cannot charge at home and those who must drive long distances.
- Public policies that improve charging options at apartments and multi-unit dwellings will broaden the base of drivers who can choose an EV.
- Making separate rates for EV and household electricity available could lower the cost for EV charging for more consumers.
- Rate plans, pricing mechanisms, and smart-charging technologies that encourage the coordination of EV charging with the availability of renewable electricity sources will decrease charging costs and further reduce heat-trapping emissions.
Recommendations for policymakers and automakers
- Federal and state purchase incentives are vital to making EVs an affordable and competitive option.
- Incentive programs for lower-income households to adopt EVs will bring the economic benefits from lower fuel costs to communities and demographics that need it the most but currently lack the ability to invest in an EV.
- Public policies that require manufacturers to produce higher volumes of EVs and encourage a greater diversity of electric-drive models and sizes will lower purchase prices for EVs.
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By Jennifer Molidor
One million species are at risk of extinction from human activity, warns a recent study by scientists with the United Nations. We need to cut greenhouse gas pollution across all sectors to avoid catastrophic climate change — and we need to do it fast, said the Intergovernmental Panel on Climate Change.
This research should serve as a rallying cry for polluting industries to make major changes now. Yet the agriculture industry continues to lag behind.
"The Ministry of Environment, Natural Resources Conservation and Tourism wishes to inform the public that following extensive consultations with all stakeholders, the Government of Botswana has taken a decision to lift the hunting suspension," the government announced in a press release shared on social media.
Company Safety Data Sheets on New Chemicals Frequently Lack the Worker Protections EPA Claims They Include
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Readers of this blog know how concerned EDF is over the Trump EPA's approval of many dozens of new chemicals based on its mere "expectation" that workers across supply chains will always employ personal protective equipment (PPE) just because it is recommended in the manufacturer's non-binding safety data sheet (SDS).
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From 2009 to 2012, Gregory Jaczko was chairman of the Nuclear Regulatory Commission, which approves nuclear power plant designs and sets safety standards for plants. But he now says that nuclear power is too dangerous and expensive — and not part of the answer to the climate crisis.
By Brett Walton
When Greg Wetherbee sat in front of the microscope recently, he was looking for fragments of metals or coal, particles that might indicate the source of airborne nitrogen pollution in Rocky Mountain National Park. What caught his eye, though, were the plastics.
In a big victory for animals, Prada has announced that it's ending its use of fur! It joins Coach, Jean Paul Gaultier, Giorgio Armani, Versace, Ralph Lauren, Vivienne Westwood, Michael Kors, Donna Karan and many others PETA has pushed toward a ban.
This is a victory more than a decade in the making. PETA and our international affiliates have crashed Prada's catwalks with anti-fur signs, held eye-catching demonstrations all around the world, and sent the company loads of information about the fur industry. In 2018, actor and animal rights advocate Pamela Anderson sent a letter on PETA's behalf urging Miuccia Prada to commit to leaving fur out of all future collections, and the iconic designer has finally listened.
If people in three European countries want to fight the climate crisis, they need to chill out more.
"The rapid pace of labour-saving technology brings into focus the possibility of a shorter working week for all, if deployed properly," Autonomy Director Will Stronge said, The Guardian reported. "However, while automation shows that less work is technically possible, the urgent pressures on the environment and on our available carbon budget show that reducing the working week is in fact necessary."
The report found that if the economies of Germany, Sweden and the UK maintain their current levels of carbon intensity and productivity, they would need to switch to a six, 12 and nine hour work week respectively if they wanted keep the rise in global temperatures to the below two degrees Celsius promised by the Paris agreement, The Independent reported.
The study based its conclusions on data from the UN and the OECD (Organisation for Economic Co-operation and Development) on greenhouse gas emissions per industry in all three countries.
The report comes as the group Momentum called on the UK's Labour Party to endorse a four-day work week.
"We welcome this attempt by Autonomy to grapple with the very real changes society will need to make in order to live within the limits of the planet," Emma Williams of the Four Day Week campaign said in a statement reported by The Independent. "In addition to improved well-being, enhanced gender equality and increased productivity, addressing climate change is another compelling reason we should all be working less."
Supporters of the idea linked it to calls in the U.S. and Europe for a Green New Deal that would decarbonize the economy while promoting equality and well-being.
"This new paper from Autonomy is a thought experiment that should give policymakers, activists and campaigners more ballast to make the case that a Green New Deal is absolutely necessary," Common Wealth think tank Director Mat Lawrence told The Independent. "The link between working time and GHG (greenhouse gas) emissions has been proved by a number of studies. Using OECD data and relating it to our carbon budget, Autonomy have taken the step to show what that link means in terms of our working weeks."
Stronge also linked his report to calls for a Green New Deal.
"Becoming a green, sustainable society will require a number of strategies – a shorter working week being just one of them," he said, according to The Guardian. "This paper and the other nascent research in the field should give us plenty of food for thought when we consider how urgent a Green New Deal is and what it should look like."
- Reduced Work Hours as a Means of Slowing Climate Change ›
- How working less could solve all our problems. Really. | ›
- Needed: A shorter work week – People's World ›